Solar Panel Cost Guide in Moorestown, NJ (2023 Update)
- Moorestown Solar Installation Cost: $8,939
- 25-Year Savings: $8,912
- Payback Period: 12.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Moorestown
Find out what the average cost of solar panels are in Moorestown.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Moorestown, the typical cost of solar panels is 2.77 per watt. To account for the typical energy usage of the average home in Moorestown, most homeowners require a 4.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $8,939, or $12,783 before the federal solar tax credit of 30% is applied.
These figures are just estimates, and how much solar costs for you may vary based on the amount of energy your home requires and what company you want to go with. Many homeowners find adopting solar power is a solid investment. The average homeowner in Moorestown can save around $15,000 on their energy bills over 20 years.
You can click the button below to get connected with a top solar company in Moorestown for a quote for your home.
Solar savings over time in Moorestown
| Year | Return on Investment |
|---|---|
| 1 years | $-8,225 |
| 3 years | $-6,797 |
| 5 years | $-5,369 |
| 7 years | $-3,941 |
| 9 years | $-2,513 |
| 11 years | $-1,085 |
| 13 years | $343 |
| 15 years | $1,772 |
| 17 years | $3,200 |
| 19 years | $4,628 |
| 21 years | $6,056 |
| 23 years | $7,484 |
| 25 years | $8,912 |
Top Solar Installers in Moorestown
Many homeowners decide to hire a solar panel installer since trying to put up solar panels by yourself can be time-consuming. In addition, if you'd like to maximize your investment in solar, going with a solar installer can help with that as well. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Moorestown
Factors that Affect Solar Panel Costs in Moorestown
There are several factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher 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 several different solar panel brands and the one you pick also affects the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far 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 Moorestown to be too costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest. However, the interest on solar loans also increases your all-in costs, so it's crucial to include that in your estimate as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Moorestown, you'll have many options to choose from, but each comes at different price points for labor and equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $11,137 | 13.0 years |
| 8 kW | $2.83 | $15,822 | $15,160 | 12.8 years |
| 10 kW | $2.77 | $19,390 | $19,337 | 12.5 years |
| 12 kW | $2.71 | $22,803 | $23,670 | 12.3 years |
| 14 kW | $2.66 | $26,060 | $28,158 | 12.0 years |
| 16 kW | $2.60 | $29,163 | $32,801 | 11.8 years |
| 18 kW | $2.55 | $32,110 | $37,600 | 11.5 years |
| 20 kW | $2.49 | $34,902 | $42,553 | 11.3 years |
How to Save on Solar Panels
There are many companies to choose from in Moorestown, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Different companies will offer various brands and types of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
- Warranty: If you care about the longevity of your solar energy system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Review the contract terms closely to make sure you understand the overall cost, project timeline rebates and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can research your installer's reputation is by reading reviews.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Moorestown, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Moorestown?
The average cost of solar panels in Moorestown is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Moorestown?
You can't get solar panels for free in Moorestown. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Moorestown, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
To figure out what solar panel system size 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 usually 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.