Solar Panel Cost Guide in Lopatcong, NJ (2023 Update)
- Lopatcong Solar Installation Cost: $9,307
- 25-Year Savings: $6,877
- Payback Period: 14.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Lopatcong
Find out what the average cost of solar panel installation is in Lopatcong.
In Lopatcong, solar panels cost about 2.77 per watt on average. The average Lopatcong homeowner needs a 4.8-kilowatt system, which would cost about $9,307 with the federal tax credit, or $13,309 before the 30% tax credit is applied.
How much you pay can go above or below the average in Lopatcong based on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is quite fruitful, with a net average savings of about $13,000 over 20 years on utility bills.
Click the button below to get connected to a vetted solar panel company in Lopatcong for a customized estimate.
Solar savings over time in Lopatcong
| Year | Return on Investment |
|---|---|
| 1 years | $-8,660 |
| 3 years | $-7,365 |
| 5 years | $-6,070 |
| 7 years | $-4,776 |
| 9 years | $-3,481 |
| 11 years | $-2,186 |
| 13 years | $-892 |
| 15 years | $403 |
| 17 years | $1,698 |
| 19 years | $2,992 |
| 21 years | $4,287 |
| 23 years | $5,582 |
| 25 years | $6,877 |
Top Solar Installers in Lopatcong
Although it's possible to install solar panels by yourself, it requires extra effort and expertise. That's one of the reasons most homeowners choose to hire a solar panel installer. Some solar companies, especially local ones, can help you better understand incentives in Lopatcong, therefore optimizing your ROI.
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 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
See all of the solar companies in Lopatcong
Factors that Affect Solar Panel Costs in Lopatcong
For many Lopatcong homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Lopatcong, 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
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,770. The brand and type of equipment you want 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 come at a higher price 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 can expect a higher equipment cost, but this can typically lead to more 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
Most solar companies in Lopatcong provide solar loans, which reduce your upfront costs of installing a solar system. However, the interest on solar loans also adds to your all-in costs, so it's crucial to consider that as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can impact how much it costs. Lopatcong'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 add-on 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 | $12,099 | $8,140 | 14.9 years |
| 8 kW | $2.83 | $15,822 | $11,163 | 14.7 years |
| 10 kW | $2.77 | $19,390 | $14,342 | 14.4 years |
| 12 kW | $2.71 | $22,803 | $17,675 | 14.1 years |
| 14 kW | $2.66 | $26,060 | $21,164 | 13.8 years |
| 16 kW | $2.60 | $29,163 | $24,808 | 13.5 years |
| 18 kW | $2.55 | $32,110 | $28,607 | 13.2 years |
| 20 kW | $2.49 | $34,902 | $32,561 | 12.9 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Long-standing companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: Though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: The brand of solar panel you want to install plays a role in which company you should go with, since different companies offer different panels.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
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 Lopatcong, NJ Solar Cost FAQs
How much does it cost to install solar panels in Lopatcong?
The average cost of solar panels in Lopatcong 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 certain factors 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 Lopatcong?
Solar panels aren't free in Lopatcong, 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 you can take advantage of.
How will solar panels impact how much my home is worth?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't choose 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 solar panels."
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses 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.