Solar Panel Cost Guide in Medford, NJ (2024 Update)

  • Medford Solar Installation Cost: $11,389
  • 25-Year Savings: $11,368
  • Payback Period: 14.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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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 Medford

We go over average solar pricing in Medford.

The average cost of a solar panel system in Medford is 4 per watt.To account for the typical energy usage of the average home in Medford, most homeowners require a 4.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,389, or $16,286 before the federal solar tax credit of 0 is applied.

These figures are just averages, and your own solar costs will most likely look different based on your energy needs and what company you choose to go with.For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $17,000 in savings on electricity bills over 20 years.

Click the button below to get connected to a highly rated solar panel company in Medford for a personalized estimate.

Solar savings over time in Medford

Year Return on Investment
1 years $-9,891
3 years $-6,895
5 years $-3,898
7 years $-902
9 years $2,094
11 years $5,091
13 years $8,087
15 years $11,083
17 years $14,080
19 years $17,076
21 years $20,073
23 years $23,069
25 years $26,065

Top Solar Installers in Medford

DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Going with an installer can make swapping over to solar power much easier. A solar company can also help save you money in the long run by providing warranties, repairs and part replacements.

If you’d like to start using solar energy but still aren’t certain which solar company to go with, here are our suggestions for providers nearby:

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 for Leasing

Sunrun

★★★★★
4.0

  • 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 Medford

Factors that Affect Solar Panel Costs in Medford

The cost of installing a solar system in Medford can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.

Solar Equipment

System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. Additionally, extra products, like solar batteries, can bring your total well above the Medford average.

Solar Financing Terms

For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are offered by most installers in Medford, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also increases your all-in costs, so it’s vital to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.

Solar Panel Installation Company

Lastly, the company you choose to install your solar panels can affect your pricing. Medford’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.

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 $11,013 14.6 years
8 kW $3.60 $20,163 $15,080 14.3 years
10 kW $3.53 $24,710 $19,344 14.0 years
12 kW $3.46 $29,059 $23,806 13.7 years
14 kW $3.39 $33,210 $28,466 13.5 years
16 kW $3.32 $37,164 $33,323 13.2 years
18 kW $3.25 $40,920 $38,378 12.9 years
20 kW $3.18 $44,478 $43,630 12.6 years

How to Save on Solar Panels

The solar installer you choose will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, including:

  • Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
  • Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
  • Contract: It’s important to read your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
  • Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.

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 for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Medford, NJ Solar Cost FAQs

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

This is a hard question to answer precisely, because the cost depends on a variety of 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 additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

Are solar panels free in Medford?

You can’t get solar panels for free in Medford. However, you may still be able to install 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 making the switch to solar worth it?

Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.

How long do solar panels last in Medford?

Although 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 how much energy they produce will have decreased significantly after that point. You can 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.

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