Solar Panel Cost Guide in Lumberton, NJ (2024 Update)
- Lumberton Solar Installation Cost: $11,389
- 25-Year Savings: $8,913
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Lumberton
Find out how much it might cost to go solar in Lumberton.
The average cost of solar panels in Lumberton is 4 per watt.To cover the typical energy needs of the average home in Lumberton, most homeowners require a 4.6-kilowatt system. Using the figure above, a solar installation costs about $11,389, or $16,286 before the federal solar tax credit of 0 is applied.
These figures are just averages, and your own solar costs may look different based on your energy needs and what company you want to go with.With average savings of about $15,000 on electricity bills over 20 years, many homeowners in Lumberton find investing in solar has a decent ROI.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Lumberton
| Year | Return on Investment |
|---|---|
| 1 years | $-9,929 |
| 3 years | $-7,009 |
| 5 years | $-4,088 |
| 7 years | $-1,167 |
| 9 years | $1,753 |
| 11 years | $4,674 |
| 13 years | $7,594 |
| 15 years | $10,515 |
| 17 years | $13,435 |
| 19 years | $16,356 |
| 21 years | $19,276 |
| 23 years | $22,197 |
| 25 years | $25,118 |
Top Solar Installers in Lumberton
Putting up solar panels yourself can be a dangerous task, which is why hiring a solar installation company is a good option for many homeowners. Plus, if you aren’t sure what brand of solar panels and equipment you want, a solar installer can help you figure that out after a site survey and consultation.
If you're looking for a solar company in Lumberton, the EcoWatch team has compiled a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Lumberton
Factors that Affect Solar Panel Costs in Lumberton
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that affect your total cost in Lumberton: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $3,530 per kilowatt in Lumberton.The kind of solar panels and equipment you choose is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are offered by most installers in Lumberton, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar company you choose to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies in Lumberton, and each can charge different amounts for labor and equipment.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.67 | $15,419 | $7,817 | 16.6 years |
| 8 kW | $3.60 | $20,163 | $10,819 | 16.3 years |
| 10 kW | $3.53 | $24,710 | $14,017 | 16.0 years |
| 12 kW | $3.46 | $29,059 | $17,414 | 15.6 years |
| 14 kW | $3.39 | $33,210 | $21,008 | 15.3 years |
| 16 kW | $3.32 | $37,164 | $24,800 | 15.0 years |
| 18 kW | $3.25 | $40,920 | $28,790 | 14.7 years |
| 20 kW | $3.18 | $44,478 | $32,977 | 14.4 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer 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 things to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Contract: Before signing a contract with a solar installer, make sure you read it through fully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Lumberton, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Lumberton?
The average cost of solar panels in Lumberton is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Lumberton?
A solar panel system isn’t free in Lumberton, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Does Lumberton have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.