Solar Panel Cost Guide in Lindenwold, NJ (2023 Update)
- Lindenwold Solar Installation Cost: $9,036
- 25-Year Savings: $11,270
- Payback Period: 11.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Lindenwold
Let's take a look at the average cost of solar in Lindenwold.
In Lindenwold, solar panels cost about 2.77 per watt on average. Because a 4.7-kW system is needed to cover the energy consumption of a typical home in Lindenwold, the average price of going solar will be about $9,036 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy needs, the type of equipment you choose, your solar contractor and more. Despite the high initial cost, the average Lindenwold homeowner can save around $17,000 on their power bills over 20 years, which is one of the positives of solar.
You can click the button below to get connected with a top solar installer in Lindenwold that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lindenwold
| Year | Return on Investment |
|---|---|
| 1 years | $-8,224 |
| 3 years | $-6,599 |
| 5 years | $-4,975 |
| 7 years | $-3,350 |
| 9 years | $-1,726 |
| 11 years | $-101 |
| 13 years | $1,523 |
| 15 years | $3,148 |
| 17 years | $4,772 |
| 19 years | $6,396 |
| 21 years | $8,021 |
| 23 years | $9,645 |
| 25 years | $11,270 |
Top Solar Installers in Lindenwold
Trying to install solar panels by yourself can be a difficult project, which is why using a solar installation company is a good option for many homeowners. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you'd like to make the switch to solar but still aren't certain which solar panel installer to go with, here are our recommendations for providers nearby:
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 Lindenwold
Factors that Affect Solar Panel Costs in Lindenwold
Although the average cost of a solar system in Lindenwold is $9,036, your final cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. There are a lot of different solar panel brands and the one you choose also affects the cost. In many cases, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular choice because they decrease your upfront costs and let you pay for your system over five to seven years on average. When considering your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Lindenwold, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Lindenwold know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $14,055 | 11.6 years |
| 8 kW | $2.83 | $15,822 | $19,050 | 11.3 years |
| 10 kW | $2.77 | $19,390 | $24,200 | 11.1 years |
| 12 kW | $2.71 | $22,803 | $29,505 | 10.9 years |
| 14 kW | $2.66 | $26,060 | $34,966 | 10.7 years |
| 16 kW | $2.60 | $29,163 | $40,581 | 10.5 years |
| 18 kW | $2.55 | $32,110 | $46,352 | 10.2 years |
| 20 kW | $2.49 | $34,902 | $52,278 | 10.0 years |
How to Save on Solar Panels
The solar panel company you choose will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, including:
- Contract: Before signing a contract with a solar installer, make sure to read it through fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one sign of a good company.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can research your installer's reputation is by reading reviews.
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 Lindenwold, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Lindenwold?
This is a tough question to answer precisely, because the cost depends on many 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Lindenwold?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Is it worth going solar in Lindenwold?
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 fairly 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 need to know how much energy your home requires 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.