Solar Panel Cost Guide in Matawan, NJ (2023 Update)

  • Matawan Solar Installation Cost: $8,764
  • 25-Year Savings: $7,419
  • Payback Period: 13.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated March 14, 2023

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Matawan

We break down average solar pricing in Matawan.

The average cost of a solar system in Matawan is 2.77 per watt. Since a 4.5-kW system is needed to cover the energy consumption of a typical home in Matawan, the average price of going solar will be about $8,764 after claiming the federal solar tax credit of 30%.

The actual price you pay can be higher or lower than the average in Matawan based on a few factors, such as the brand of solar panels you choose and the solar installer you hire. But, once you've paid the initial cost of installation, the payback for most homeowners is usually good, with a net average savings of about $14,000 over 20 years on utility bills.

For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Matawan

Year Return on Investment
1 years $-8,117
3 years $-6,822
5 years $-5,528
7 years $-4,233
9 years $-2,938
11 years $-1,643
13 years $-349
15 years $946
17 years $2,241
19 years $3,535
21 years $4,830
23 years $6,125
25 years $7,419

Top Solar Installers in Matawan

Although you can install solar panels by yourself, it involves extra effort and handiness. That's one of the reasons almost all homeowners choose to hire a solar panel installer. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives and by offering warranties and repairs.

There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:

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

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 Matawan

Factors that Affect Solar Panel Costs in Matawan

For many Matawan homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Matawan, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.

Solar Equipment

The cost of solar panels varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,770. There are a lot of different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be much 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 Matawan to be too expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest. 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'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 securing a solar loan with a low APR could reduce your costs considerably.

Solar Panel Installation Company

The solar company you pick will play a role in your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Matawan have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 $9,382 14.1 years
8 kW $2.83 $15,822 $12,819 13.8 years
10 kW $2.77 $19,390 $16,412 13.5 years
12 kW $2.71 $22,803 $20,160 13.3 years
14 kW $2.66 $26,060 $24,062 13.0 years
16 kW $2.60 $29,163 $28,120 12.7 years
18 kW $2.55 $32,110 $32,333 12.5 years
20 kW $2.49 $34,902 $36,702 12.2 years

How to Save on Solar Panels

There are numerous companies to choose from in Matawan, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:

  • Solar Panel Brands: Different companies will have different brands and types of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
  • Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
  • Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.

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

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 Matawan, NJ Solar Cost FAQs

How much does it cost to install solar panels in Matawan?

This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.

Is cost the most important consideration when buying solar panels?

Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Is it worth going solar in Matawan?

Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.

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.

Follow us