Solar Panel Cost Guide in Lodi, NJ (2023 Update)
- Lodi Solar Installation Cost: $9,047
- 25-Year Savings: $8,804
- Payback Period: 12.7 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Lodi
Find out what the average cost of solar panels are in Lodi.
The national average cost of solar panels is $2.66 per watt, but in Lodi it's 2.77 per watt. To account for the typical energy needs of the average home in Lodi, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,055, or $12,949 before the federal solar tax credit of 30% 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 panels you choose, your solar contractor and more. Many homeowners find adopting solar power is a sound investment. The average homeowner in Lodi can save about $15,000 on their electricity bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Lodi
| Year | Return on Investment |
|---|---|
| 1 years | $-8,987 |
| 3 years | $-8,868 |
| 5 years | $-8,749 |
| 7 years | $-8,630 |
| 9 years | $-8,511 |
| 11 years | $-8,392 |
| 13 years | $-8,273 |
| 15 years | $-8,154 |
| 17 years | $-8,035 |
| 19 years | $-7,916 |
| 21 years | $-7,797 |
| 23 years | $-7,678 |
| 25 years | $-7,559 |
Top Solar Installers in Lodi
Although you can install solar panels on your own, it takes extra energy and know-how. That's why most people choose to go with a solar panel installer. The expertise that solar companies provide can be useful as well, especially if you aren't sure what brand of solar equipment would be right for your home.
Working with a licensed solar company can help you make the most of your investment in solar. 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
See all of the solar companies in Lodi
Factors that Affect Solar Panel Costs in Lodi
The cost of installing a solar system in Lodi can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That's why it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Lodi homeowners decide to finance their solar panel systems to make going solar more affordable. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can affect the cost. Lodi's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Lodi know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $10,856 | 13.2 years |
| 8 kW | $2.83 | $15,822 | $14,785 | 12.9 years |
| 10 kW | $2.77 | $19,390 | $18,870 | 12.7 years |
| 12 kW | $2.71 | $22,803 | $23,109 | 12.4 years |
| 14 kW | $2.66 | $26,060 | $27,503 | 12.2 years |
| 16 kW | $2.60 | $29,163 | $32,053 | 11.9 years |
| 18 kW | $2.55 | $32,110 | $36,757 | 11.7 years |
| 20 kW | $2.49 | $34,902 | $41,617 | 11.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can research your installer's reputation is by reading reviews.
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the best you can get in the business, and offering such a warranty is one sign of a quality company.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before making your decision.
- Contract: When reading through your solar installer'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.
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 Lodi, NJ Solar Cost FAQs
How much does it cost to install solar panels in Lodi?
This is a difficult question to answer exactly, because the cost depends on a few different 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. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How will having solar panels impact my home value?
Solar panels can increase your property's value significantly as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
To figure out what solar panel system size 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 generally produce about 250 to 400 watt-hours per hour, the average house 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.