Solar Panel Cost Guide in Marlton, NJ (2023 Update)
- Marlton Solar Installation Cost: $8,937
- 25-Year Savings: $11,368
- Payback Period: 11.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Marlton
Here's how much it might cost to install solar panels in Marlton.
The average cost of solar panels in Marlton is 2.77 per watt. Since a 4.6-kW system is needed to cover the energy consumption of a typical home in Marlton, the average price of going solar will be about $8,939 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy use, the type of solar panels you choose, your solar contractor and more. For many homeowners, the upfront investment in solar panels is worth paying. On average Marlton homeowners see about $17,000 in savings on electricity bills over 20 years.
To receive a free quote from a highly rated solar company in Marlton, you can click the button below.
Solar savings over time in Marlton
| Year | Return on Investment |
|---|---|
| 1 years | $-7,439 |
| 3 years | $-4,443 |
| 5 years | $-1,446 |
| 7 years | $1,550 |
| 9 years | $4,546 |
| 11 years | $7,543 |
| 13 years | $10,539 |
| 15 years | $13,536 |
| 17 years | $16,532 |
| 19 years | $19,528 |
| 21 years | $22,525 |
| 23 years | $25,521 |
| 25 years | $28,517 |
Top Solar Installers in Marlton
Many homeowners opt for a solar panel installer since trying to install solar panels by yourself can be challenging. Some solar installers, especially local ones, can help you take advantage of incentives in Marlton, thereby optimizing your ROI.
If you'd like to go solar but still aren't certain which solar system company to go with, here are our recommendations for providers nearby:
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 Marlton
Factors that Affect Solar Panel Costs in Marlton
There are several factors that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,770. There are several different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Marlton to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Marlton is the company you hire to install your solar system. Similar to choosing a company to install new cabinets, for instance, there's no shortage of solar installers that offer a range of services at different price points. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and go with the company that provides the products, warranties and services you want and also fits 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 | $12,099 | $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 |
How to Save on Solar Panels
There are a lot of 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 you're worried about the durability of your solar energy system, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Companies that have been operating for many years likely have a solid 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 service, such as part repairs and replacements.
- Contract: Read the contract terms thoroughly to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
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 Marlton, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Marlton?
This is a tough question to answer exactly, 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 additional solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Marlton?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
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 generally 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.