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Top Solar Installers in Lakewood
When going solar, many homeowners decide to hire a solar company since installing a solar system yourself can be a challenging project. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
See all of the solar companies in Lakewood
Factors that Affect Solar Panel Costs in Lakewood
For many Lakewood homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Lakewood, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment Size
System size is one of the largest factors that affects the overall cost of installing solar panels. 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 solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your electric bills. Additionally, extra products, like solar batteries, can bump up your total well above the Lakewood average.
Solar Financing Terms
Many homeowners find the average cost of solar in Lakewood to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest. Although solar loans make adopting solar energy more accessible for Lakewood homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you go with to handle your switch to green energy can play a part in your total costs. There are about 3 solar panel companies operating in Lakewood, and each can charge different amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra 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||$2.88||$12,099||$9,784||13.8 years|
|8 kW||$2.83||$15,822||$13,355||13.6 years|
|10 kW||$2.77||$19,390||$17,082||13.3 years|
|12 kW||$2.71||$22,803||$20,964||13.0 years|
|14 kW||$2.66||$26,060||$25,001||12.8 years|
|16 kW||$2.60||$29,163||$29,193||12.5 years|
|18 kW||$2.55||$32,110||$33,540||12.2 years|
|20 kW||$2.49||$34,902||$38,042||12.0 years|
Solar Incentives in Lakewood
|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
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Contract: Before signing a contract with a solar company, make sure to look it over carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: The kind of solar panel you want to install plays a part in which installer you should choose, since different companies offer different panels.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
EcoWatch's Lakewood, 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.