Solar Panel Cost Guide in Hightstown, NJ (Aug 2022)
- Hightstown Solar Installation Cost: $9,675
- 25-Year Savings: $7,342
- Payback Period: 14.2 Years
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Updated 7/19/2022
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Average Cost of Solar Panels in Hightstown
Here's how much it might cost to make the switch to solar in Hightstown.
The national average cost of solar panels is $2.66 per watt, but in Hightstown it's $3 per watt. To cover the typical energy needs of the average home in Hightstown, most homeowners require a 4.7-kilowatt system. Using the figure above, a solar installation costs around $9,675, or $7,160 after the federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy consumption, the type of equipment you want, your solar contractor and more. Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Hightstown can save around $14,000 on their energy bills over 20 years.
You can click the button below to get connected with a top solar company in Hightstown that can help you get a more accurate cost estimate for your home.
Solar savings over time in Hightstown
| Year | Return on Investment |
|---|---|
| 1 years | $-8,994 |
| 3 years | $-7,633 |
| 5 years | $-6,272 |
| 7 years | $-4,910 |
| 9 years | $-3,549 |
| 11 years | $-2,188 |
| 13 years | $-826 |
| 15 years | $535 |
| 17 years | $1,897 |
| 19 years | $3,258 |
| 21 years | $4,619 |
| 23 years | $5,981 |
| 25 years | $7,342 |
Top Solar Installers in Hightstown
Many homeowners choose to hire a solar panel installer since figuring out how to install solar panels yourself can be hard. In addition, if you'd like to maximize your investment in solar energy, going with a solar installer can help with that too. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some in Hightstown:
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
The Green Panel
- 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 Hightstown
Factors that Affect Solar Panel Costs in Hightstown
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Hightstown: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment Size
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay about $2,770 per kilowatt in Hightstown. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Hightstown, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Hightstown to be too steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in higher prices over time due to interest. However, the interest on solar loans also increase your all-in costs, so it's vital to include that in your estimate as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installation company you select will influence your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Hightstown are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $12,791 | $8,860 | 14.8 years |
| 8 kW | $2.83 | $16,726 | $12,141 | 14.5 years |
| 10 kW | $2.77 | $20,498 | $15,586 | 14.2 years |
| 12 kW | $2.71 | $24,106 | $19,195 | 13.9 years |
| 14 kW | $2.66 | $27,549 | $22,968 | 13.6 years |
| 16 kW | $2.60 | $30,829 | $26,905 | 13.3 years |
| 18 kW | $2.55 | $33,945 | $31,006 | 13.1 years |
| 20 kW | $2.49 | $36,896 | $35,271 | 12.8 years |
Solar Incentives in Hightstown
| Name | NJ Clean Energy- Residential New Construction Program |
| Incentive Amount | Incentives depend on the HERS score and the classification Single family homes: Ranges from $1,125 to - 24,250 Multi-single homes: Ranges from $1,125 to $18,188 Multifamily homes: Ranges from $625-$12,125 |
| Incentive Max | Multifamily: up to $12,125 Individual homes: up to $24,250 |
| Website | Visit here |
| More Info | Click here |
| Name | Property Tax Exemption for Renewable Energy Systems |
| Incentive Amount | 100% of value added by renewable system |
| More Info | Click here |
| Name | ITC |
| Type | Tax Incentive |
| Incentive Amount | 26% of installation cost |
| Website | Visit here |
| Name | Solar Renewable Energy Certificates (SRECs) Registration Program |
| Incentive Amount | Determined by the market. In June 2016, SREC traded at an average price of $229.90. |
| Incentive Max | Maximum price set by the SACP for the particular year. |
| Website | Visit here |
| More Info | Click here |
| Name | PSE&G - Solar Loan Program |
| Website | Visit here |
| More Info | Click here |
| Name | Successor Solar Incentive (SuSI) Program |
| Incentive Amount | Net-Metered Residential: $90/SREC-II Small Net-Metered Non-Residential located on Rooftop, Carport, Canopy and Floating Solar Projects smaller than 1 MW (dc): $100/SREC-II, $120 for public entities Projects 1 MW to 5 MW (dc): $90/SREC-II, $110 for public entities Net Metered Non-Residential Ground Mount Projects smaller than 1 MW (dc): $85/SREC-II, $105 for public entities Projects 1 MW to 5 MW (dc): $80/SREC-II, $100 for public entities Community Solar LMI: $90/SREC-II Community Solar Non-LMI: $70/SREC-II |
| Incentive Max | MW-DC Capacity Blocks Net Metered Residential: 150 MW Net Metered Non-Residential: 150 MW Community Solar (LMI and Non-LMI): 150 MW |
| Website | Visit here |
| More Info | Click here |
| Name | Solar Energy Sales Tax Exemption |
| Incentive Amount | 100% exemption |
| Incentive Max | None |
| More Info | Click here |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: If you're worried about the endurance of your solar system, verifying your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
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
The Green Panel
- 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 Hightstown, NJ Solar Cost FAQs
How much does it cost to install solar panels in Hightstown?
The average cost of solar panels in Hightstown is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Hightstown?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Does Hightstown have a net metering program?
Each state has some form 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 often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.
