Solar Panel Cost Guide in Holiday City Berkeley, NJ (Aug 2022)

  • Holiday City Berkeley Solar Installation Cost: $9,101
  • 25-Year Savings: $9,275
  • Payback Period: 12.4 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 7/19/2022

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Average Cost of Solar Panels in Holiday City Berkeley

Find out how much it might cost to switch to solar power in Holiday City Berkeley.

The national average cost of solar panels is $2.66 per watt, but in Holiday City Berkeley it's $3 per watt. To account for the typical energy needs of the average home in Holiday City Berkeley, most homeowners require a 4.4-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,101, or $6,735 after the federal solar tax credit is applied.

Bear in mind that the figures above are only estimates based on the average energy use of Holiday City Berkeley homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $16,000 in savings on electricity bills over 20 years.

To calculate your potential ROI and connect with a local solar company, click the button below.

Solar savings over time in Holiday City Berkeley

Year Return on Investment
1 years $-8,366
3 years $-6,896
5 years $-5,426
7 years $-3,956
9 years $-2,486
11 years $-1,016
13 years $454
15 years $1,924
17 years $3,395
19 years $4,865
21 years $6,335
23 years $7,805
25 years $9,275

Top Solar Installers in Holiday City Berkeley

Many homeowners opt for a solar panel company since figuring out how to install solar panels by yourself can be time-consuming. A solar company can also help save you money over time by providing warranties, repairs and part replacements.

If you'd like to switch to solar energy but still aren't sure which solar system company to go with, here are our recommendations for providers nearby:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Holiday City Berkeley

Factors that Affect Solar Panel Costs in Holiday City Berkeley

The cost of installing a solar system in Holiday City Berkeley can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.

Solar Equipment Size

One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $2,770 per kilowatt in Holiday City Berkeley. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Holiday City Berkeley average.

Solar Financing Terms

If paying for a solar system out of pocket is difficult, solar loans are a popular choice because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.

Solar Panel Installation Company

The final key cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Holiday City Berkeley, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Holiday City Berkeley have more knowledge about local solar incentives and can help you take advantage 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 $12,057 12.9 years
8 kW $2.83 $16,726 $16,404 12.6 years
10 kW $2.77 $20,498 $20,915 12.4 years
12 kW $2.71 $24,106 $25,590 12.1 years
14 kW $2.66 $27,549 $30,429 11.9 years
16 kW $2.60 $30,829 $35,432 11.6 years
18 kW $2.55 $33,945 $40,598 11.4 years
20 kW $2.49 $36,896 $45,929 11.1 years

Solar Incentives in Holiday City Berkeley

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 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

The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:

  • Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely have a good reputation and are qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
  • Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
  • Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Holiday City Berkeley, NJ Solar Cost FAQs

How much does it cost to install solar panels in Holiday City Berkeley?

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 cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Can you get solar panels for free in Holiday City Berkeley?

A solar panel system isn't free in Holiday City Berkeley, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

How much can I save on energy bills after switching to solar?

Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $828.26 per year.

How often do you have to replace solar panels?

Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use them at a lower efficiency.

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.

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