Solar Panel Cost Guide in Marlton, NJ (Sep 2022)
- Marlton Solar Installation Cost: $8,939
- 25-Year Savings: $11,367
- Payback Period: 11.0 Years
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Updated 9/16/2022
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Average Cost of Solar Panels in Marlton
Find out what the average cost of solar panel installation is in Marlton.
The average cost of solar panels in Marlton is $3 per watt. Using this figure, a typical 4.6 would cost about $8,939 before the 30% federal solar tax credit is applied.
The actual price you pay can go higher or lower than the average in Marlton based on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire. But, once you've paid the initial cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $17,000 over 20 years on power bills.
To get a free quote from a top solar installation company in Marlton, you can click the button below.
Solar savings over time in Marlton
| Year | Return on Investment |
|---|---|
| 1 years | $-8,127 |
| 3 years | $-6,502 |
| 5 years | $-4,878 |
| 7 years | $-3,253 |
| 9 years | $-1,629 |
| 11 years | $-4 |
| 13 years | $1,620 |
| 15 years | $3,245 |
| 17 years | $4,869 |
| 19 years | $6,493 |
| 21 years | $8,118 |
| 23 years | $9,742 |
| 25 years | $11,367 |
Top Solar Installers in Marlton
When making the switch to solar, many homeowners opt to use a solar installation company since installing a solar system yourself can be a difficult project. The payback period on a solar system will vary depending on factors like your roof configuration and energy use, but going with a solar installer can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
Working with a vetted solar company can help your solar project go smoothly. 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
Best Technology
The Green Panel
- 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 Marlton
Factors that Affect Solar Panel Costs in Marlton
The cost of installing a solar system in Marlton can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment Size
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size. Solar power systems with better efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,770. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get 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 in the long run on your energy bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Marlton average.
Solar Financing Terms
Most solar companies in Marlton offer solar loans, which reduce the initial cost of installing solar panels. However, the interest on solar loans also increases your all-in costs, so it's vital to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you go with to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies operating in Marlton, and each can charge different amounts for labor and equipment. Additionally, some companies in Marlton know more about local solar incentives and can help you learn about 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 | $14,333 | 11.4 years |
| 8 kW | $2.83 | $15,822 | $19,421 | 11.2 years |
| 10 kW | $2.77 | $19,390 | $24,664 | 11.0 years |
| 12 kW | $2.71 | $22,803 | $30,062 | 10.8 years |
| 14 kW | $2.66 | $26,060 | $35,616 | 10.6 years |
| 16 kW | $2.60 | $29,163 | $41,324 | 10.3 years |
| 18 kW | $2.55 | $32,110 | $47,188 | 10.1 years |
| 20 kW | $2.49 | $34,902 | $53,206 | 9.9 years |
Solar Incentives in Marlton
| 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
Since the kind of solar panels and the installation company you choose greatly affects 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:
- Warranty: If you care about the longevity of your solar energy system, verifying your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Contract: When reading over your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes 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
Best Technology
The Green Panel
- 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 Marlton, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Marlton?
The average cost of solar panels in Marlton 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 model 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?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact how much my home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Marlton is currently $290,300, so you can look forward to a value of about $11,902 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Marlton is a worthwhile investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.
