Solar Panel Cost Guide in Gibbstown, NJ (2023 Update)
- Gibbstown Solar Installation Cost: $9,016
- 25-Year Savings: $13,744
- Payback Period: 9.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Gibbstown
Let's take a look at the average cost of solar panels in Gibbstown.
In Gibbstown, solar panels cost about 2.77 per watt on average. The average solar panel system size in Gibbstown is around 4.7 kilowatts, meaning a cost of about $9,016 for a solar installation, or $12,893 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of solar system you want, your solar contractor and more. But, once you've paid the upfront cost of installation, the savings for most homeowners is usually rewarding, with a net average savings of about $19,000 over 20 years on electricity bills.
To receive a free estimate from a vetted solar company in Gibbstown, you can click the button below.
Solar savings over time in Gibbstown
| Year | Return on Investment |
|---|---|
| 1 years | $-8,106 |
| 3 years | $-6,285 |
| 5 years | $-4,464 |
| 7 years | $-2,643 |
| 9 years | $-822 |
| 11 years | $998 |
| 13 years | $2,819 |
| 15 years | $4,640 |
| 17 years | $6,461 |
| 19 years | $8,282 |
| 21 years | $10,103 |
| 23 years | $11,924 |
| 25 years | $13,744 |
Top Solar Installers in Gibbstown
DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Hiring a solar panel installer can make swapping over to solar power much easier. The payback period on a solar system will vary based on factors like your roof configuration and energy needs, but working with a solar installer can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Gibbstown
Factors that Affect Solar Panel Costs in Gibbstown
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Gibbstown: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend about $2,770 per kilowatt in Gibbstown. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are available from most installers in Gibbstown, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only 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 finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installation company you choose will influence your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and find a company that offers the products, warranties and services you're looking for and also is within your budget.
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 | $17,283 | 10.3 years |
| 8 kW | $2.83 | $15,822 | $23,354 | 10.1 years |
| 10 kW | $2.77 | $19,390 | $29,580 | 9.9 years |
| 12 kW | $2.71 | $22,803 | $35,961 | 9.7 years |
| 14 kW | $2.66 | $26,060 | $42,498 | 9.5 years |
| 16 kW | $2.60 | $29,163 | $49,190 | 9.3 years |
| 18 kW | $2.55 | $32,110 | $56,036 | 9.1 years |
| 20 kW | $2.49 | $34,902 | $63,038 | 8.9 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Warranty: If you're worried about the longevity of your solar energy system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
- 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.
- Contract: When reading over your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Gibbstown, NJ Solar Cost FAQs
How much does it cost to install solar panels in Gibbstown?
The average cost of solar panels in Gibbstown is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Gibbstown?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can 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 install between 20 and 35 panels to cover 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.