Solar Panel Cost Guide in McGuire AFB, NJ (2024 Update)
- McGuire AFB Solar Installation Cost: $11,389
- 25-Year Savings: $7,802
- Payback Period: 17.0 Years
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Average Cost of Solar Panels in McGuire AFB
Find out how much it might cost to switch to solar power in McGuire AFB.
The national average cost of solar panels is $2.66 per watt, but in McGuire AFB it’s 4 per watt.The average McGuire AFB homeowner needs a 4.6-kilowatt system, which would cost about $11,389 with the federal tax credit, or $16,286 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of McGuire AFB homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.For most homeowners, the upfront investment in solar is worth paying. On average McGuire AFB homeowners see about $14,000 in savings on electricity bills over 20 years.
To receive a free estimate from a highly rated solar company in McGuire AFB, you can click the button below.
Solar savings over time in McGuire AFB
| Year | Return on Investment |
|---|---|
| 1 years | $-10,330 |
| 3 years | $-8,212 |
| 5 years | $-6,093 |
| 7 years | $-3,975 |
| 9 years | $-1,857 |
| 11 years | $262 |
| 13 years | $2,380 |
| 15 years | $4,499 |
| 17 years | $6,617 |
| 19 years | $8,735 |
| 21 years | $10,854 |
| 23 years | $12,972 |
| 25 years | $15,091 |
Top Solar Installers in McGuire AFB
Although you can install solar panels on your own, it involves extra energy and expertise. For that reason, most people choose to go with a solar panel installer. The payback period on a solar system will vary depending on factors like your location and energy use, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you apply for incentives available in your area.
If you're looking for a solar company in McGuire AFB, we've compiled a list of our top suggestions here:
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in McGuire AFB
Factors that Affect Solar Panel Costs in McGuire AFB
The cost of installing a solar system in McGuire AFB can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,530. The brand and type 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in McGuire AFB offer solar loans, which reduce the initial cost of installing a solar system.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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installation company you choose will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Some companies 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 with an above-average cost. It’s best to do some research and find a company that offers the products, warranties and services you want and also is 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 | $3.67 | $15,419 | $6,371 | 17.7 years |
| 8 kW | $3.60 | $20,163 | $8,890 | 17.4 years |
| 10 kW | $3.53 | $24,710 | $11,607 | 17.0 years |
| 12 kW | $3.46 | $29,059 | $14,521 | 16.7 years |
| 14 kW | $3.39 | $33,210 | $17,633 | 16.3 years |
| 16 kW | $3.32 | $37,164 | $20,943 | 16.0 years |
| 18 kW | $3.25 | $40,920 | $24,451 | 15.6 years |
| 20 kW | $3.18 | $44,478 | $28,156 | 15.3 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the best you can get in the business, and offering such a warranty is one indication of a quality company.
- Solar Panel Brands: The brand of solar panel you need plays a part in which installer you should go with, since different companies have access to different panels.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of 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 positive reviews from previous customers.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project timeline.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's McGuire AFB, NJ Solar Cost FAQs
What is the average cost of installing solar panels in McGuire AFB?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in McGuire AFB?
Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
How will solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in McGuire AFB is currently $389,832, which means you can expect a value of about $15,983 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in McGuire AFB is a worthwhile investment.
What solar power system size is right for 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 typically produce about 250 to 400 watt-hours per hour, the average household 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.