Solar Panel Cost Guide in Leisure Village, NJ (Aug 2022)
- Leisure Village Solar Installation Cost: $9,101
- 25-Year Savings: $7,083
- Payback Period: 14.1 Years
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Updated 7/19/2022
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Average Cost of Solar Panels in Leisure Village
Find out what the average cost of solar panel installation is in Leisure Village.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Leisure Village, the average cost of a solar system is $3 per watt. The average solar panel system size in Leisure Village is around 4.4 kilowatts, meaning a cost of about $9,101 for a solar installation, or $6,735 after the federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of equipment you want, your solar contractor and more. For most homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $14,000 in savings on energy bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Leisure Village
| Year | Return on Investment |
|---|---|
| 1 years | $-8,454 |
| 3 years | $-7,159 |
| 5 years | $-5,864 |
| 7 years | $-4,570 |
| 9 years | $-3,275 |
| 11 years | $-1,980 |
| 13 years | $-686 |
| 15 years | $609 |
| 17 years | $1,904 |
| 19 years | $3,199 |
| 21 years | $4,493 |
| 23 years | $5,788 |
| 25 years | $7,083 |
Top Solar Installers in Leisure Village
Putting up solar panels by yourself can be a challenging task, which is why using a solar installer is a good option for many homeowners. Another advantage of using a solar installer is that they can help you maximize your ROI by lowering your future costs of repairs and replacements with the help of warranties and informing you of local incentives you can take advantage of.
Working with a vetted solar company can help your solar project go smoothly. 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
Best Technology
The Green Panel
- 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 Leisure Village
Factors that Affect Solar Panel Costs in Leisure Village
Even though the average cost of solar panels in Leisure Village is $9,101, your actual cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment Size
Size is one of the largest factors that influences the overall cost of going solar. That's why it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The model of solar panels and equipment you choose is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Furthermore, solar equipment is more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Leisure Village to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest. However, the interest on solar loans also adds to your overall costs, so it's crucial to take that into consideration as well. You can always reduce the total you pay in interest and in some cases 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 impact how much it costs. Leisure Village's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have 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 | $12,791 | $9,093 | 14.6 years |
| 8 kW | $2.83 | $16,726 | $12,451 | 14.3 years |
| 10 kW | $2.77 | $20,498 | $15,974 | 14.1 years |
| 12 kW | $2.71 | $24,106 | $19,661 | 13.8 years |
| 14 kW | $2.66 | $27,549 | $23,512 | 13.5 years |
| 16 kW | $2.60 | $30,829 | $27,526 | 13.2 years |
| 18 kW | $2.55 | $33,945 | $31,705 | 12.9 years |
| 20 kW | $2.49 | $36,896 | $36,048 | 12.6 years |
Solar Incentives in Leisure Village
| 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 |
| Website | Visit here |
| 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 | ITC |
| Type | Tax Incentive |
| Incentive Amount | 26% of installation cost |
| Website | Visit here |
| Name | Solar Renewable Energy Certificates (SRECs) Registration Program |
| Incentive Amount | Determined by the market. In June 2016, SREC traded at an average price of $229.90. |
| Incentive Max | Maximum price set by the SACP for the particular year. |
| Website | Visit here |
| 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 |
| Website | Visit here |
| More Info | Click here |
| Name | Solar Energy Sales Tax Exemption |
| Incentive Amount | 100% exemption |
| Incentive Max | None |
| More Info | Click here |
How to Save on Solar Panels
There are numerous companies to choose from in Leisure Village, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Before signing a contract with a solar company, make sure to look it over completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely have a solid reputation and are qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you want a specific brand, make sure the solar company you're considering has it.
- Installation Process: An important thing to understand when adopting solar energy 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.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
The Green Panel
- 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 Leisure Village, NJ Solar Cost FAQs
How much does it cost to install solar panels in Leisure Village?
The average cost of solar panels in Leisure Village is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Leisure Village have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future power bills.
How long do solar panels last in Leisure Village?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use 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.
