Solar Panel Cost Guide in Galloway, NJ (2023 Update)
- Galloway Solar Installation Cost: $8,687
- 25-Year Savings: $14,074
- Payback Period: 9.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Galloway
Find out what the average cost of solar panels are in Galloway.
In Galloway, solar panels cost about 2.77 per watt on average. The average solar panel system size in Galloway is around 4.5 kilowatts, meaning a cost of about $8,687 for a solar installation, or $12,422 before the 30% federal solar tax credit is applied.
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 solar system you want to get, your solar contractor and more. With average savings of about $19,000 on energy bills over 20 years, many homeowners in Galloway find going solar can be quite rewarding.
You can click the button below to get connected with a top solar company in Galloway for a quote for your home.
Solar savings over time in Galloway
| Year | Return on Investment |
|---|---|
| 1 years | $-7,776 |
| 3 years | $-5,955 |
| 5 years | $-4,135 |
| 7 years | $-2,314 |
| 9 years | $-493 |
| 11 years | $1,328 |
| 13 years | $3,149 |
| 15 years | $4,970 |
| 17 years | $6,791 |
| 19 years | $8,611 |
| 21 years | $10,432 |
| 23 years | $12,253 |
| 25 years | $14,074 |
Top Solar Installers in Galloway
When making the switch to solar, many homeowners opt to use a solar installation company since putting up solar panels yourself can be a time-consuming project. Plus, if you're unsure what type of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Galloway
Factors that Affect Solar Panel Costs in Galloway
Though the average cost of a solar system in Galloway is $8,687, your final cost may differ. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That's why it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. There are several different solar panel brands and the one you choose also changes the cost. Typically, the brands that have better efficiency tend to also be more expensive. 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
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are available from most installers in Galloway, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Galloway is the company you get to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services at different price points. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.88 | $12,099 | $18,399 | 9.9 years |
| 8 kW | $2.83 | $15,822 | $24,842 | 9.7 years |
| 10 kW | $2.77 | $19,390 | $31,441 | 9.5 years |
| 12 kW | $2.71 | $22,803 | $38,194 | 9.3 years |
| 14 kW | $2.66 | $26,060 | $45,103 | 9.2 years |
| 16 kW | $2.60 | $29,163 | $52,166 | 9.0 years |
| 18 kW | $2.55 | $32,110 | $59,385 | 8.8 years |
| 20 kW | $2.49 | $34,902 | $66,759 | 8.6 years |
How to Save on Solar Panels
There are a large number of companies available in Galloway, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Review the contract terms carefully to make sure you understand the total cost, completion timeline incentives and warranties.
- Installation Process: When making the switch to solar energy, it's necessary to maintain an open line of communication with your solar company. Make sure you understand how the installation process will go and the project timeline.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years 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
EcoWatch's Galloway, NJ Solar Cost FAQs
How much does it cost to install solar panels in Galloway?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Galloway have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.