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Top Solar Installers in Holmdel
Trying to install solar panels on your own can be a dangerous task, which is why getting a solar installation company is a good option for many homeowners. A solar installer can also help save you money over time by providing warranties, repairs and part replacements.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
See all of the solar companies in Holmdel
Factors that Affect Solar Panel Costs in Holmdel
The cost of installing a solar system in Holmdel can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment Size
One of the most important 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 energy your household consumes, the larger your system will likely need to be. You can expect to pay about $2,770 per kilowatt in Holmdel. There are a lot of different solar panel brands and the one you pick also changes the cost. In general, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you're looking to get 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 many years, but they can also be a significant investment. That's why many Holmdel homeowners opt to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Holmdel, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and decide on the company that offers the products, warranties and services you're looking for and also is within your budget.
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||$8,690||14.9 years|
|8 kW||$2.83||$16,726||$11,915||14.6 years|
|10 kW||$2.77||$20,498||$15,304||14.3 years|
|12 kW||$2.71||$24,106||$18,857||14.0 years|
|14 kW||$2.66||$27,549||$22,573||13.7 years|
|16 kW||$2.60||$30,829||$26,454||13.5 years|
|18 kW||$2.55||$33,945||$30,499||13.2 years|
|20 kW||$2.49||$36,896||$34,707||12.9 years|
Solar Incentives in Holmdel
|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
|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||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
|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:
- Contract: Before you sign a contract with a solar installer, make sure to read it through fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Solar Panel Brands: Different companies will carry different brands and types of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
EcoWatch's Holmdel, NJ Solar Cost FAQs
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.