Solar Panel Cost Guide in Lacey, NJ (2024 Update)
- Lacey Solar Installation Cost: $10,964
- 25-Year Savings: $8,895
- Payback Period: 15.7 Years
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Updated February 03, 2024
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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 a solar system in Lacey is 4 per watt.The average Lacey homeowner needs a 4.4-kilowatt system, which would cost about $10,964 with the federal tax credit, or $15,679 before the 0 tax credit is applied.
The actual price you pay can be above or below the average in Lacey based on a variety of factors, such as the type of solar panels you choose and the solar installer you hire.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Lacey can save about $15,000 on their power bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, 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
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Taking advantage of a solar company can make your swap to solar power much easier. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you’d like to go solar but still aren’t certain which solar company to go with, here are our recommendations for providers nearby:
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 Lacey
Factors that Affect Solar Panel Costs in Lacey
For many Lacey homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Lacey, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,530. There are many different solar panel brands and the one you choose also changes the cost. Generally, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Lacey provide solar loans, which reduce the initial cost of installing solar panels.When figuring out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar panel companies operating in Lacey, and each can charge varying amounts for labor and equipment.You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Warranty: If you’re concerned about the endurance of your solar system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, project timeline rebates and warranties.
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 Lacey, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Lacey?
This is a difficult question to answer precisely, because the cost depends on a few different 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 cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels eliminate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located 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.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home 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.