Solar Panel Cost Guide in Holiday City South, NJ (2024 Update)
- Holiday City South Solar Installation Cost: $10,964
- 25-Year Savings: $7,580
- Payback Period: 16.9 Years
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Average Cost of Solar Panels in Holiday City South
Let’s have a look at the average cost of solar in Holiday City South.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Holiday City South, the average cost of a solar system is 4 per watt.Since a 4.4-kW system is needed to cover the energy needs of a typical home in Holiday City South, the average price of going solar will be about $10,964 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 actual cost of making the switch to solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with.Despite the high upfront cost, the average Holiday City South homeowner can save about $14,000 on their electricity bills over 20 years, which is one of the benefits of solar.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Holiday City South
| Year | Return on Investment |
|---|---|
| 1 years | $-9,905 |
| 3 years | $-7,787 |
| 5 years | $-5,668 |
| 7 years | $-3,550 |
| 9 years | $-1,432 |
| 11 years | $687 |
| 13 years | $2,805 |
| 15 years | $4,923 |
| 17 years | $7,042 |
| 19 years | $9,160 |
| 21 years | $11,279 |
| 23 years | $13,397 |
| 25 years | $15,515 |
Top Solar Installers in Holiday City South
Installing solar panels yourself can be a dangerous undertaking, which is why hiring a solar installer is a good option for many homeowners. Companies can also provide access to a large variety of the best solar panels and help you choose which one will be best for you.
If you're looking for a solar company in Holiday City South, the EcoWatch team has put together a list of our top suggestions here:
Best National Provider
SunPower
- 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
- 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 Holiday City South
Factors that Affect Solar Panel Costs in Holiday City South
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that determine your overall cost in Holiday City South: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,530.There are many different solar panel brands and the one you pick also affects the cost. Usually, the brands that are more efficient tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Holiday City South homeowners decide to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also increases your total costs, so it’s vital to consider that as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you opt for to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies operating in Holiday City South, and each can charge varying amounts for labor and equipment.Additionally, some companies in Holiday City South 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 end up saving you 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 | $3.67 | $15,419 | $6,464 | 17.6 years |
| 8 kW | $3.60 | $20,163 | $9,014 | 17.3 years |
| 10 kW | $3.53 | $24,710 | $11,762 | 16.9 years |
| 12 kW | $3.46 | $29,059 | $14,708 | 16.6 years |
| 14 kW | $3.39 | $33,210 | $17,851 | 16.3 years |
| 16 kW | $3.32 | $37,164 | $21,192 | 15.9 years |
| 18 kW | $3.25 | $40,920 | $24,730 | 15.6 years |
| 20 kW | $3.18 | $44,478 | $28,466 | 15.2 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: Different companies have different brands and types of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one indication of a good company.
Best National Provider
SunPower
- 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
- 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 Holiday City South, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Holiday City South?
The average cost of solar panels in Holiday City South is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the real cost will depend on things such as 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 Holiday City South?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home 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 savings from going solar.
Can you sell solar power back to the grid in Holiday City South?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future energy bills.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know 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.