Solar Panel Cost Guide in Mays Landing, NJ (2024 Update)
- Mays Landing Solar Installation Cost: $11,064
- 25-Year Savings: $14,078
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in Mays Landing
Find out what the average cost of a solar system is in Mays Landing.
While the national average of solar panels is $2.66 per watt, solar panels in Mays Landing generally cost around 4.Using this figure, a typical 4.5-kW system would cost about $11,064 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy use, the type of solar panels you want, your solar contractor and more.But, after you've paid the upfront cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $19,000 over 20 years on electricity bills.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Mays Landing
| Year | Return on Investment |
|---|---|
| 1 years | $-9,566 |
| 3 years | $-6,570 |
| 5 years | $-3,574 |
| 7 years | $-577 |
| 9 years | $2,419 |
| 11 years | $5,416 |
| 13 years | $8,412 |
| 15 years | $11,408 |
| 17 years | $14,405 |
| 19 years | $17,401 |
| 21 years | $20,397 |
| 23 years | $23,394 |
| 25 years | $26,390 |
Top Solar Installers in Mays Landing
Although you can install solar panels yourself, it requires extra effort and expertise. Because of that, most people choose to go with a solar panel installer. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you're on the hunt for a solar company in Mays Landing, the EcoWatch team has compiled a list of our top suggestions here:
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 Mays Landing
Factors that Affect Solar Panel Costs in Mays Landing
The cost of installing a solar system in Mays Landing 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 equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,530. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons 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 many years, but they can also be a significant investment. That’s why many Mays Landing homeowners opt to finance their solar panel systems to offset upfront costs.Although solar loans make switching to solar energy more accessible for Mays Landing homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you hire to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies in Mays Landing, and each can charge different amounts for labor and equipment.Additionally, some companies in Mays Landing have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $3.67 | $15,419 | $15,079 | 12.6 years |
| 8 kW | $3.60 | $20,163 | $20,501 | 12.4 years |
| 10 kW | $3.53 | $24,710 | $26,121 | 12.2 years |
| 12 kW | $3.46 | $29,059 | $31,938 | 11.9 years |
| 14 kW | $3.39 | $33,210 | $37,953 | 11.7 years |
| 16 kW | $3.32 | $37,164 | $44,165 | 11.4 years |
| 18 kW | $3.25 | $40,920 | $50,575 | 11.2 years |
| 20 kW | $3.18 | $44,478 | $57,183 | 10.9 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, such as:
- Contract: It’s important to read your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what needs to be done before your solar panel system is installed, such as updating your electrical system or roof.
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 Mays Landing, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Mays Landing?
The average cost of solar panels in Mays Landing is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Mays Landing?
A solar panel system isn’t free in Mays Landing, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can solar panels eliminate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,016.61 per year.
How long do solar panels last in Mays Landing?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount 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.