Solar Panel Cost Guide in Manalapan, NJ (Aug 2022)

  • Manalapan Solar Installation Cost: $9,265
  • 25-Year Savings: $6,919
  • Payback Period: 14.3 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 7/19/2022

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Average Cost of Solar Panels in Manalapan

Here's how much it might cost to install solar panels in Manalapan.

While the national average of solar panels is $2.66 per watt, solar panels in Manalapan typically cost around $3. The average Manalapan homeowner needs a 4.5-kilowatt system, which would cost about $9,265, or $6,856 after the federal solar tax credit is applied.

These figures are only averages, and your own solar costs may differ based on factors unique to your home and what company you go with. With average savings of about $14,000 on energy bills over 20 years, many homeowners in Manalapan find going solar can be quite rewarding.

To see your potential savings and connect with a local solar expert, click the button below.

Solar savings over time in Manalapan

Year Return on Investment
1 years $-8,618
3 years $-7,323
5 years $-6,028
7 years $-4,734
9 years $-3,439
11 years $-2,144
13 years $-850
15 years $445
17 years $1,740
19 years $3,035
21 years $4,329
23 years $5,624
25 years $6,919

Top Solar Installers in Manalapan

Although you can install solar panels by yourself, it involves extra labor and know-how. That's why most people choose to go with a solar panel installer. The payback period on an investment in solar panels will vary based on factors like your location and energy usage, but going with a solar installer can shorten that period. Your provider will be able to help you identify incentives available in your area.

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 in Manalapan:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Manalapan

Factors that Affect Solar Panel Costs in Manalapan

The cost of installing a solar system in Manalapan 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 you need, and other factors include the equipment you choose, financing options and the solar installer you choose.

Solar Equipment Size

The size of the system you need is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your power bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Manalapan average.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are offered by most installers in Manalapan, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also adds to your total costs, so it's important to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.

Solar Panel Installation Company

The solar installer you opt for to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies operating in Manalapan, and each can charge varying amounts for labor and equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and choose a company that has the products, warranties and services you're looking for and also is within your budget.

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 $12,791 $8,690 14.9 years
8 kW $2.83 $16,726 $11,915 14.6 years
10 kW $2.77 $20,498 $15,304 14.3 years
12 kW $2.71 $24,106 $18,857 14.0 years
14 kW $2.66 $27,549 $22,573 13.7 years
16 kW $2.60 $30,829 $26,454 13.5 years
18 kW $2.55 $33,945 $30,499 13.2 years
20 kW $2.49 $36,896 $34,707 12.9 years

Solar Incentives in Manalapan

Name NJ Clean Energy- Residential New Construction Program
Incentive Amount Incentives depend on the HERS score and the classification
Single family homes: Ranges from $1,125 to - 24,250
Multi-single homes: Ranges from $1,125 to $18,188
Multifamily homes: Ranges from $625-$12,125
Incentive Max Multifamily: up to $12,125
Individual homes: up to $24,250
Website Visit here
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
Incentive Amount 100% of value added by renewable system
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Incentive Amount Determined by the market.
In June 2016, SREC traded at an average price of $229.90.
Incentive Max Maximum price set by the SACP for the particular year.
Website Visit here
More Info Click here

Name Successor Solar Incentive (SuSI) Program
Incentive Amount Net-Metered Residential: $90/SREC-II

Small Net-Metered Non-Residential located on Rooftop, Carport, Canopy and Floating Solar
Projects smaller than 1 MW (dc): $100/SREC-II, $120 for public entities
Projects 1 MW to 5 MW (dc): $90/SREC-II, $110 for public entities

Net Metered Non-Residential Ground Mount
Projects smaller than 1 MW (dc): $85/SREC-II, $105 for public entities
Projects 1 MW to 5 MW (dc): $80/SREC-II, $100 for public entities

Community Solar LMI: $90/SREC-II
Community Solar Non-LMI: $70/SREC-II
Incentive Max MW-DC Capacity Blocks
Net Metered Residential: 150 MW
Net Metered Non-Residential: 150 MW
Community Solar (LMI and Non-LMI): 150 MW
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
Incentive Max None
More Info Click here

How to Save on Solar Panels

Since the brand of solar panels and the installer you choose have an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and how long the project will take.
  • Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
  • Warranty: If youcare about the endurance of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
  • Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely offer high-quality solar panel installation and expertise.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Manalapan, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Manalapan?

This is a tough question to answer precisely, 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 higher quality panels, or if you have above-average energy consumption. On the other hand, 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 Manalapan?

Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.

How much can I save on power bills after switching to solar?

It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Manalapan, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.

How often do you have to replace solar panels?

On average, the lifespan of solar panels is 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 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.

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