Solar Panel Cost Guide in Lincroft, NJ (Mar 2023)
- Lincroft Solar Installation Cost: $8,764
- 25-Year Savings: $7,419
- Payback Period: 13.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Lincroft
We break down average solar pricing in Lincroft.
In Lincroft, solar panels cost about 2.77 per watt on average. Using this figure, a typical 4.5-kW system would cost about $8,764 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of solar system you want to get, your solar contractor and more. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is typically rewarding, with a net average savings of about $14,000 over 20 years on utility bills.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Lincroft
| Year | Return on Investment |
|---|---|
| 1 years | $-8,117 |
| 3 years | $-6,822 |
| 5 years | $-5,528 |
| 7 years | $-4,233 |
| 9 years | $-2,938 |
| 11 years | $-1,643 |
| 13 years | $-349 |
| 15 years | $946 |
| 17 years | $2,241 |
| 19 years | $3,535 |
| 21 years | $4,830 |
| 23 years | $6,125 |
| 25 years | $7,419 |
Top Solar Installers in Lincroft
Although it's possible to install solar panels on your own, it takes extra labor and handiness. Because of that, most homeowners choose to hire a solar panel installer. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and component replacements.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some near you:
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
Tesla Energy
- 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 Lincroft
Factors that Affect Solar Panel Costs in Lincroft
For many Lincroft homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Lincroft, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar system in Lincroft, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can figure out by looking at past power bills. Your total cost can increase by around $2,770 for each additional kilowatt you need. The type of 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, more efficient panels could save you more in the long run on your energy bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Lincroft average.
Solar Financing Terms
Many homeowners find the average cost of solar in Lincroft to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you choose to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies operating in Lincroft, and each can charge different amounts for labor and equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger 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 | $9,382 | 14.1 years |
| 8 kW | $2.83 | $15,822 | $12,819 | 13.8 years |
| 10 kW | $2.77 | $19,390 | $16,412 | 13.5 years |
| 12 kW | $2.71 | $22,803 | $20,160 | 13.3 years |
| 14 kW | $2.66 | $26,060 | $24,062 | 13.0 years |
| 16 kW | $2.60 | $29,163 | $28,120 | 12.7 years |
| 18 kW | $2.55 | $32,110 | $32,333 | 12.5 years |
| 20 kW | $2.49 | $34,902 | $36,702 | 12.2 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Different companies will offer different brands and kinds of panels. If you want a specific brand, make sure the solar company you're considering has it.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: When reading over your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Installation Process: When making the switch to solar energy, it's necessary to maintain an open line of communication with your solar company. 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
Tesla Energy
- 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 Lincroft, NJ Solar Cost FAQs
How much does it cost to install solar panels in Lincroft?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lincroft is currently $476,651, which means you can look forward to a value of about $19,543 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lincroft is a fruitful investment.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.