Solar Panel Cost Guide in Maple Shade, NJ (Jun 2022)
- Maple Shade Solar Installation Cost: $9,450
- 25-Year Savings: $8,401
- Payback Period: 13.2 Years
See cost of a solar system near you:
Updated 5/26/2022
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Average Cost of Solar Panels in Maple Shade
We go over average solar pricing in Maple Shade.
The national average cost of solar panels is $2.66 per watt, but in Maple Shade it's $3 per watt. Using this figure, a typical 4.6 would cost about $9,450 before the federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Maple Shade homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. With typical savings of about $15,000 on utility bills over 20 years, many homeowners in Maple Shade find investing in solar can pay off big.
You can click the button below to get connected with a top solar company in Maple Shade that can help you get a more accurate cost estimate for your home.
Solar savings over time in Maple Shade
| Year | Return on Investment |
|---|---|
| 1 years | $-8,736 |
| 3 years | $-7,308 |
| 5 years | $-5,879 |
| 7 years | $-4,451 |
| 9 years | $-3,023 |
| 11 years | $-1,595 |
| 13 years | $-167 |
| 15 years | $1,261 |
| 17 years | $2,689 |
| 19 years | $4,117 |
| 21 years | $5,545 |
| 23 years | $6,973 |
| 25 years | $8,401 |
Top Solar Installers in Maple Shade
When switching to solar energy, many homeowners opt to use a solar company since DIY solar panel installation can be a time-consuming project. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
There are several licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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
Tesla Energy
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 Maple Shade
Factors that Affect Solar Panel Costs in Maple Shade
Although the average cost of solar panels in Maple Shade is $9,450, your final cost may differ. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment Size
When it comes to estimating the cost of a solar energy system in Maple Shade, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can determine by looking at past power bills. Your overall cost can increase by about $2,770 for each additional kilowatt you need. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a 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 limited roof space 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 additional 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 power bills over time, but they can also be a significant investment. That's why many Maple Shade homeowners decide to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can impact your pricing. Maple Shade's solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk prices, 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 | $2.88 | $12,791 | $10,446 | 13.8 years |
| 8 kW | $2.83 | $16,726 | $14,256 | 13.5 years |
| 10 kW | $2.77 | $20,498 | $18,229 | 13.2 years |
| 12 kW | $2.71 | $24,106 | $22,367 | 13.0 years |
| 14 kW | $2.66 | $27,549 | $26,669 | 12.7 years |
| 16 kW | $2.60 | $30,829 | $31,135 | 12.4 years |
| 18 kW | $2.55 | $33,945 | $35,765 | 12.2 years |
| 20 kW | $2.49 | $36,896 | $40,559 | 11.9 years |
Solar Incentives in Maple Shade
| 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 | PSE&G - Solar Loan Program |
| 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
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: If youcare about the longevity of your solar panel system, checking your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- 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 should know with your solar installer, such as what permits you should secure and what the project timeline is.
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
Tesla Energy
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 Maple Shade, NJ Solar Cost FAQs
How much does it cost to install solar panels in Maple Shade?
The average cost of solar panels in Maple Shade 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 things like the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How much can I save on electricity bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Maple Shade, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out 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.
