Solar Panel Cost Guide in Glassboro, NJ (Mar 2023)
- Glassboro 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 Glassboro
Let's have a look at the average cost of solar panels in Glassboro.
While the national average of solar panels is $2.66 per watt, solar panels in Glassboro generally cost around 2.77. The average Glassboro homeowner needs a 4.7-kilowatt system, which would cost about $9,016 with the federal tax credit, or $12,893 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy consumption, the type of solar panels you want to get, your solar contractor and more. But, after you've paid the upfront cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $19,000 over 20 years on power bills.
You can click the button below to get connected with a pre-vetted solar installer in Glassboro that can help you get a more accurate cost estimate for your home.
Solar savings over time in Glassboro
| 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 Glassboro
Although it's possible to install solar panels yourself, it involves extra labor and handiness. That's one of the reasons most people choose a solar panel installer. The payback period of solar panels will vary depending on factors like your roof configuration and energy usage, but working with a solar company can shorten it. Your provider will be able to help you apply for incentives available in your area.
Working with a professional solar installer can make going solar easier. 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 Glassboro
Factors that Affect Solar Panel Costs in Glassboro
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Glassboro: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That's why it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. The model of solar panels and equipment you get is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment consists of more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are offered by most installers in Glassboro, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. Even though solar loans make going solar more accessible for Glassboro homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Glassboro, and each can charge varying amounts for labor and equipment. The size of the company sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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
Since the model of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
- Solar Panel Brands: Different companies will have various brands and models of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Contract: Look through the contract terms closely to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely offer high-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 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 Glassboro, NJ Solar Cost FAQs
How much does it cost to install solar panels in Glassboro?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Glassboro?
Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The drawback 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size 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 generally 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.