Solar Panel Cost Guide in Lambertville, NJ (2023 Update)
- Lambertville Solar Installation Cost: $9,221
- 25-Year Savings: $6,963
- Payback Period: 14.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lambertville
Let's have a look at the average cost of solar panels in Lambertville.
Although the national average of solar panels is $2.66 per watt, solar panels in Lambertville typically cost around 2.77. The average solar panel system size in Lambertville is around 4.8 kilowatts, meaning a cost of about $9,230 for a solar installation, or $13,199 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Lambertville homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find installing a solar panel system is a fruitful investment. The average homeowner in Lambertville can save about $13,000 on their power bills over 20 years.
You can click the button below to get connected with a vetted solar company in Lambertville that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lambertville
| Year | Return on Investment |
|---|---|
| 1 years | $-8,162 |
| 3 years | $-6,044 |
| 5 years | $-3,925 |
| 7 years | $-1,807 |
| 9 years | $312 |
| 11 years | $2,430 |
| 13 years | $4,548 |
| 15 years | $6,667 |
| 17 years | $8,785 |
| 19 years | $10,904 |
| 21 years | $13,022 |
| 23 years | $15,140 |
| 25 years | $17,259 |
Top Solar Installers in Lambertville
Many homeowners decide to hire a solar panel company since trying to install solar panels on your own can be a labor-intensive endeavor. Some solar companies, particularly local ones, can help you make the most of incentives in Lambertville, optimizing your ROI.
Working with a licensed solar installer can help you make the most of your investment in solar. 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
See all of the solar companies in Lambertville
Factors that Affect Solar Panel Costs in Lambertville
Although the average cost of a solar system in Lambertville is $9,230, your final cost may be higher or lower than that. There are several factors that can have a significant 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 system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,770. There are a lot of different solar panel brands and the one you pick also affects the cost. Typically, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Lambertville to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. However, the interest on solar loans also increases your total costs, so it's important to keep that in mind as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Lambertville is the company you hire to install your PV system. Similar to choosing a company to build a deck or pool, for example, you'll have no shortage of solar installers that offer a range of services at different costs. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that provides the products, warranties and services you want and also fit into 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 | $12,099 | $8,319 | 14.8 years |
| 8 kW | $2.83 | $15,822 | $11,402 | 14.5 years |
| 10 kW | $2.77 | $19,390 | $14,640 | 14.2 years |
| 12 kW | $2.71 | $22,803 | $18,034 | 14.0 years |
| 14 kW | $2.66 | $26,060 | $21,582 | 13.7 years |
| 16 kW | $2.60 | $29,163 | $25,286 | 13.4 years |
| 18 kW | $2.55 | $32,110 | $29,145 | 13.1 years |
| 20 kW | $2.49 | $34,902 | $33,159 | 12.8 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. Since picking a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
- Contract: Although reading through a contract can be tedious, it's important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely provide quality solar panel installation and expertise.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Lambertville, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Lambertville?
This is a tough question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Lambertville?
Solar panels aren't free in Lambertville, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How much can I save on energy bills after switching to solar?
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 $680.61 per year.
How long do solar panels last in Lambertville?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them after having 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.