Solar Panel Cost Guide in Laurence Harbor, NJ (Oct 2022)

  • Laurence Harbor Solar Installation Cost: $9,075
  • 25-Year Savings: $7,109
  • Payback Period: 14.0 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Laurence Harbor

We break down average solar pricing in Laurence Harbor.

In Laurence Harbor, solar panels cost about $3 per watt on average. To account for the typical energy needs of the average home in Laurence Harbor, most homeowners require a 4.7-kilowatt system. Using the figure above, a solar installation costs around $9,075, or $6,716 after the federal solar tax credit of 30% is applied.

How much you pay can go above or below the average in Laurence Harbor based on several factors, such as the type of solar panels you choose and the solar installer you hire. For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Laurence Harbor see about $13,000 in savings on utility bills over 20 years.

Click the button below to get connected to a vetted solar installer in your area for a personalized estimate.

Solar savings over time in Laurence Harbor

Year Return on Investment
1 years $-8,427
3 years $-7,132
5 years $-5,838
7 years $-4,543
9 years $-3,248
11 years $-1,954
13 years $-659
15 years $636
17 years $1,930
19 years $3,225
21 years $4,520
23 years $5,815
25 years $7,109

Top Solar Installers in Laurence Harbor

Trying to put up solar panels on your own can be a time-consuming task, which is why hiring a solar installer is a good option for many homeowners. The expertise that solar installers offer can be helpful as well, especially if you don't quite know what kind of solar equipment would be right for your home.

If you're looking for a solar company in Laurence Harbor, we've put together a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

See all of the solar companies in Laurence Harbor

Factors that Affect Solar Panel Costs in Laurence Harbor

For many Laurence Harbor homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Laurence Harbor, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.

Solar Equipment Size

The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the main factors is the system size. Solar power systems that have better efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,770. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Laurence Harbor, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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

For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Laurence Harbor, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also adds to your overall costs, so it's crucial to include that in your estimate as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.

Solar Panel Installation Company

Finally, the company you opt for to install your solar panels can influence how much it costs. Laurence Harbor's solar companies all have different labor costs and add varying upcharges to equipment. The company's size sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and better 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 lower to compete with bigger companies.

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 $8,649 14.6 years
8 kW $2.83 $15,822 $11,842 14.3 years
10 kW $2.77 $19,390 $15,191 14.0 years
12 kW $2.71 $22,803 $18,694 13.7 years
14 kW $2.66 $26,060 $22,353 13.5 years
16 kW $2.60 $29,163 $26,166 13.2 years
18 kW $2.55 $32,110 $30,135 12.9 years
20 kW $2.49 $34,902 $34,259 12.6 years

Solar Incentives in Laurence Harbor

Name Successor Solar Incentive (SuSI) Program
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Website Visit here
More Info Click here

Name NJ Clean Energy- Residential New Construction Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name COOLAdvantage Program
Website Visit here
More Info Click here

Name NJ Clean Energy- WARMAdvantage Program (Electric and Gas)
Website Visit here
More Info Click here

Name New Jersey Renewable Energy Incentive Program (Sustainable Biopower)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

Since the kind of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:

  • Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
  • Solar Panel Brands: The kind of solar panel you'd like to install plays a part in which installer you should choose, since different companies have access to different panels.
  • Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
  • Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Laurence Harbor, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Laurence Harbor?

The average cost of solar panels in Laurence Harbor is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.

Should I lease or buy solar panels in Laurence Harbor?

Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The drawback 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 maximize your savings.

Is it worth going solar in Laurence Harbor?

Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.

What solar power system size is right for my home?

To figure out how many solar panels you need, you should find out how much energy your home needs 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.

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