Solar Panel Cost Guide in Lacey, NJ (2025 Update)
- Lacey Solar Installation Cost: $10,964
- 25-Year Savings: $8,895
- Payback Period: 15.7 Years
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Average Cost of Solar Panels in Lacey
See how much it might cost to make the switch to solar in Lacey.
The average cost of solar panels in Lacey is 4 per watt.Using this figure, a typical 4.4-kW system would cost about $10,964 before the 0 federal solar tax credit is applied.
The true cost of your system can go above or below the average in Lacey based on several factors, such as the model of solar panels you choose and the solar installer you hire.For many homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $15,000 in savings on electricity bills over 20 years.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Lacey
| 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 Lacey
When going solar, many homeowners decide to use a solar company since handling can be a challenging project. A solar company can also help save you money in the long run by providing warranties, repairs and component replacements.
If you're on the hunt for a solar company in Lacey, the EcoWatch team has put together a list of our top suggestions here:
See all of the solar companies in Lacey
Factors that Affect Solar Panel Costs in Lacey
Even though the average cost of a solar system in Lacey is $10,964, your actual cost may differ. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,530. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Lacey, 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 a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid route because they lower your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also increases your all-in costs, so it’s important to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you choose to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies in Lacey, and each can charge different amounts for labor and equipment.The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $8,243 | 16.3 years |
| 8 kW | $3.60 | $20,163 | $11,386 | 16.0 years |
| 10 kW | $3.53 | $24,710 | $14,727 | 15.7 years |
| 12 kW | $3.46 | $29,059 | $18,265 | 15.4 years |
| 14 kW | $3.39 | $33,210 | $22,001 | 15.0 years |
| 16 kW | $3.32 | $37,164 | $25,935 | 14.7 years |
| 18 kW | $3.25 | $40,920 | $30,066 | 14.4 years |
| 20 kW | $3.18 | $44,478 | $34,395 | 14.1 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose greatly impacts your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases offer quality solar panel installation and expertise.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
EcoWatch's Lacey, NJ Solar Cost FAQs
How much does it cost to install solar panels in Lacey?
This is a tough question to answer precisely, 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. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to consider when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Can solar panels eliminate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $788.73 per year.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.