Solar Panel Cost Guide in Leisure Village, NJ (Sep 2022)
- Leisure Village Solar Installation Cost: $8,609
- 25-Year Savings: $7,575
- Payback Period: 13.3 Years
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Updated 9/16/2022
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Average Cost of Solar Panels in Leisure Village
Let's take a look at the average cost of solar panels in Leisure Village.
The national average cost of solar panels is $2.66 per watt, but in Leisure Village it's $3 per watt. Using this figure, a typical 4.4 would cost about $8,609 before the 30% federal solar tax credit is applied.
These figures are just averages, and your own solar costs may vary based on your specific situation and what company you go with. For many homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Leisure Village see about $14,000 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 custom estimate.
Solar savings over time in Leisure Village
| Year | Return on Investment |
|---|---|
| 1 years | $-7,962 |
| 3 years | $-6,667 |
| 5 years | $-5,372 |
| 7 years | $-4,078 |
| 9 years | $-2,783 |
| 11 years | $-1,488 |
| 13 years | $-194 |
| 15 years | $1,101 |
| 17 years | $2,396 |
| 19 years | $3,690 |
| 21 years | $4,985 |
| 23 years | $6,280 |
| 25 years | $7,575 |
Top Solar Installers in Leisure Village
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Using a solar company can make swapping over to solar power much easier. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance in the long run.
Working with a licensed solar installer can make going solar easier. 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
For many Leisure Village 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 Leisure Village, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment Size
When it comes to estimating the price of a solar energy system in Leisure Village, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can determine by looking at past electricity bills. Your overall cost can increase by about $2,770 for each additional kilowatt you need. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get 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 in the long run on your electric bills. In addition, add-on products, like solar batteries, can bump up your total well above the Leisure Village average.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a solid option because they lower your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also adds to your overall costs, so it's vital to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you hire to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies in Leisure Village, and each can charge varying amounts for labor and equipment. The size of the company sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater 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 promotion 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 | $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 Leisure Village
| 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 brand of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
- Contract: When reading 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 component breaking or the company going out of business.
- Solar Panel Brands: The type of solar panel you'd like to install plays a part in which installer you should opt for, since different companies have different panels.
- Installation Process: When going solar, it's crucial to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process works and the project timeline.
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
What is the average cost of installing 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 actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Leisure Village?
Solar panels aren't free in Leisure Village, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can solar panels significantly reduce my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Leisure Village, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power 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 usually 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.
