Solar Panel Cost Guide in Gloucester, NJ (2024 Update)
- Gloucester Solar Installation Cost: $11,511
- 25-Year Savings: $11,000
- Payback Period: 14.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Gloucester
Here’s how much it might cost to go solar in Gloucester.
The average cost of solar panels in Gloucester is 4 per watt.Since a 4.7-kW system is needed to cover the energy usage of a typical home in Gloucester, the average price of going solar will be about $11,511 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of installing solar panels can vary depending on a few factors, such as what size system you need, your energy consumption and what solar installer you go with.Despite the large initial cost, the average Gloucester homeowner can save around $16,000 on their electricity bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a vetted solar company in Gloucester for a customized quote.
Solar savings over time in Gloucester
| Year | Return on Investment |
|---|---|
| 1 years | $-10,038 |
| 3 years | $-7,092 |
| 5 years | $-4,146 |
| 7 years | $-1,200 |
| 9 years | $1,746 |
| 11 years | $4,691 |
| 13 years | $7,637 |
| 15 years | $10,583 |
| 17 years | $13,529 |
| 19 years | $16,475 |
| 21 years | $19,421 |
| 23 years | $22,366 |
| 25 years | $25,312 |
Top Solar Installers in Gloucester
Many homeowners opt for a solar panel company since trying to install solar panels on your own can be a lot of work. Another good thing about going with a top solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.
If you’d like to go solar but still aren’t certain which solar system installer to go with, here are our suggestions for providers in Gloucester:
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 Gloucester
Factors that Affect Solar Panel Costs in Gloucester
While the average cost of a solar system in Gloucester is $11,511, your final cost may differ. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Gloucester, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $3,530 for each additional kilowatt you need.The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment 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 difficult. Solar loans are offered by most installers in Gloucester, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also adds to your overall costs, so it’s important to include that in your estimate as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Gloucester is the company you hire to install your solar system. Similar to choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services at different price points.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $10,384 | 14.9 years |
| 8 kW | $3.60 | $20,163 | $14,240 | 14.7 years |
| 10 kW | $3.53 | $24,710 | $18,294 | 14.4 years |
| 12 kW | $3.46 | $29,059 | $22,546 | 14.1 years |
| 14 kW | $3.39 | $33,210 | $26,996 | 13.8 years |
| 16 kW | $3.32 | $37,164 | $31,643 | 13.5 years |
| 18 kW | $3.25 | $40,920 | $36,488 | 13.2 years |
| 20 kW | $3.18 | $44,478 | $41,531 | 12.9 years |
How to Save on Solar Panels
The solar installer you choose will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, including:
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
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 Gloucester, NJ Solar Cost FAQs
How much does it cost to install solar panels in Gloucester?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Gloucester?
Leasing solar panels can be an appealing choice, as it usually 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 it worth going solar in Gloucester?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs 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.