Solar Panel Cost Guide in Galloway, NJ (2024 Update)
- Galloway Solar Installation Cost: $11,064
- 25-Year Savings: $14,078
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in Galloway
See how much it might cost to go solar in Galloway.
In Galloway, solar panels cost about 4 per watt on average.Since a 4.5-kW system is needed to cover the energy consumption of a typical home in Galloway, the average price of going solar will be about $11,064 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy use, the type of equipment you want to get, your solar contractor and more.With average savings of about $19,000 on utility bills over 20 years, many homeowners in Galloway find going solar has a decent ROI.
Click the button below to get connected to a top solar company in your area for a personalized estimate.
Solar savings over time in Galloway
| Year | Return on Investment |
|---|---|
| 1 years | $-9,566 |
| 3 years | $-6,570 |
| 5 years | $-3,574 |
| 7 years | $-577 |
| 9 years | $2,419 |
| 11 years | $5,416 |
| 13 years | $8,412 |
| 15 years | $11,408 |
| 17 years | $14,405 |
| 19 years | $17,401 |
| 21 years | $20,397 |
| 23 years | $23,394 |
| 25 years | $26,390 |
Top Solar Installers in Galloway
Many homeowners choose to hire a solar installer since figuring out how to install solar panels on your own can be time-consuming. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you’d like to make the switch to solar but still aren’t sure which solar panel company to go with, here are our suggestions for providers nearby:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Galloway
Factors that Affect Solar Panel Costs in Galloway
For many Galloway homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Galloway, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Galloway, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can gauge by looking at past electricity bills. Your total cost can increase by about $3,530 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you choose also changes the cost. Usually, the brands that are more efficient tend to also cost more. Plus, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a solid route because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The final key cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Galloway, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.67 | $15,419 | $15,079 | 12.6 years |
| 8 kW | $3.60 | $20,163 | $20,501 | 12.4 years |
| 10 kW | $3.53 | $24,710 | $26,121 | 12.2 years |
| 12 kW | $3.46 | $29,059 | $31,938 | 11.9 years |
| 14 kW | $3.39 | $33,210 | $37,953 | 11.7 years |
| 16 kW | $3.32 | $37,164 | $44,165 | 11.4 years |
| 18 kW | $3.25 | $40,920 | $50,575 | 11.2 years |
| 20 kW | $3.18 | $44,478 | $57,183 | 10.9 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, including:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely offer quality solar panel installation and expertise.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Galloway, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Galloway?
The average cost of solar panels in Galloway is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Galloway?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Do solar panels increase your property value?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.