Solar Panel Cost Guide in Maurice River, NJ (2024 Update)
- Maurice River Solar Installation Cost: $11,168
- 25-Year Savings: $14,393
- Payback Period: 12.1 Years
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Average Cost of Solar Panels in Maurice River
Find out what the average cost of installing solar panels is in Maurice River.
The national average cost of solar panels is $2.66 per watt, but in Maurice River it’s 4 per watt.The average Maurice River homeowner needs a 4.5-kilowatt system, which would cost about $11,168 with the federal tax credit, or $15,970 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy needs, the type of solar panels you choose, your solar contractor and more.With average savings of about $19,000 on power bills over 20 years, many homeowners in Maurice River find investing in solar has a decent ROI.
You can click the button below to get connected with a vetted solar installer in Maurice River for a quote for your home.
Solar savings over time in Maurice River
| Year | Return on Investment |
|---|---|
| 1 years | $-9,670 |
| 3 years | $-6,674 |
| 5 years | $-3,677 |
| 7 years | $-681 |
| 9 years | $2,315 |
| 11 years | $5,312 |
| 13 years | $8,308 |
| 15 years | $11,305 |
| 17 years | $14,301 |
| 19 years | $17,297 |
| 21 years | $20,294 |
| 23 years | $23,290 |
| 25 years | $26,286 |
Top Solar Installers in Maurice River
When switching to solar energy, many homeowners choose to hire a solar company since putting up a solar system yourself can be a difficult project. Local solar installation companies can also help you maximize your return on investment by assisting with any local incentives and by providing warranties and repairs.
Working with a professional solar company can make going solar easier. Here are our recommendations:
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Maurice River
Factors that Affect Solar Panel Costs in Maurice River
While the average cost of a solar system in Maurice River is $11,168, your final cost may differ. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, 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 energy needs.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Maurice River, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular option because they reduce your upfront costs and let you pay for your system over five to seven years on average.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Maurice River is the company you choose to install your solar system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services for different budgets.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 come at a higher cost. It’s best to do some research and go with the company that has the products, warranties and services you’re looking for and also fit into 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 | $3.67 | $15,419 | $15,322 | 12.5 years |
| 8 kW | $3.60 | $20,163 | $20,824 | 12.3 years |
| 10 kW | $3.53 | $24,710 | $26,524 | 12.1 years |
| 12 kW | $3.46 | $29,059 | $32,422 | 11.8 years |
| 14 kW | $3.39 | $33,210 | $38,518 | 11.6 years |
| 16 kW | $3.32 | $37,164 | $44,811 | 11.3 years |
| 18 kW | $3.25 | $40,920 | $51,302 | 11.1 years |
| 20 kW | $3.18 | $44,478 | $57,991 | 10.9 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a good company.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should 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 installers have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
- Contract: When looking through your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Maurice River, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Maurice River?
This is a tough question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Maurice River?
You can’t get solar panels for free in Maurice River. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Maurice River?
Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.