Solar Panel Cost Guide in Keyport, NJ (2024 Update)
- Keyport Solar Installation Cost: $11,170
- 25-Year Savings: $7,419
- Payback Period: 17.3 Years
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Average Cost of Solar Panels in Keyport
See how much it might cost to go solar in Keyport.
In Keyport, solar panels cost about 4 per watt on average.The average solar panel system size in Keyport is around 4.5 kilowatts, meaning a cost of about $11,170 for a solar installation, or $15,973 before the 0 federal solar tax credit is applied.
The true price you pay can go higher or lower than the average in Keyport based on a variety of factors, such as the type of solar panels you choose and the solar installer you hire.But, once you've paid the upfront cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $14,000 over 20 years on electricity bills.
To get a free quote from a top solar installation company in Keyport, you can click the button below.
Solar savings over time in Keyport
Year | Return on Investment |
---|---|
1 years | $-10,111 |
3 years | $-7,992 |
5 years | $-5,874 |
7 years | $-3,755 |
9 years | $-1,637 |
11 years | $481 |
13 years | $2,600 |
15 years | $4,718 |
17 years | $6,837 |
19 years | $8,955 |
21 years | $11,073 |
23 years | $13,192 |
25 years | $15,310 |
Top Solar Installers in Keyport
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Hiring an installer can make your switch to solar power much easier. Some solar installers, especially local ones, can help you better understand incentives in Keyport, thereby optimizing your ROI.
Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:
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 Keyport
Factors that Affect Solar Panel Costs in Keyport
There are many factors that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Keyport homeowners opt to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also adds to your overall costs, so it’s crucial to take that into consideration as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to clean energy can play a part in your total costs. There are about 3 solar installation companies in Keyport, and each can charge different amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $6,062 | 17.9 years |
8 kW | $3.60 | $20,163 | $8,478 | 17.6 years |
10 kW | $3.53 | $24,710 | $11,092 | 17.3 years |
12 kW | $3.46 | $29,059 | $13,903 | 16.9 years |
14 kW | $3.39 | $33,210 | $16,912 | 16.6 years |
16 kW | $3.32 | $37,164 | $20,119 | 16.2 years |
18 kW | $3.25 | $40,920 | $23,524 | 15.9 years |
20 kW | $3.18 | $44,478 | $27,126 | 15.5 years |
How to Save on Solar Panels
There are numerous companies available in Keyport, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- 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 most likely has a solid reputation and is qualified to do the job well. Another way you can check your installer’s reputation is by reading reviews.
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar installer. See to it that you understand how the installation process will go and the completion timeline.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the gold standard in the business, and offering such a warranty is one sign of a good company.
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 Keyport, NJ Solar Cost FAQs
How much does it cost to install solar panels in Keyport?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Keyport?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The downside 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 get the most savings.
Can solar panels eliminate my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Keyport, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using 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.