Solar Panel Cost Guide in Moorestown Lenola, NJ (Dec 2022)

  • Moorestown Lenola Solar Installation Cost: $8,939
  • 25-Year Savings: $8,912
  • Payback Period: 12.5 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Moorestown Lenola

Find out what the average cost of solar panel installation is in Moorestown Lenola.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Moorestown Lenola, the average cost of a solar system is $3 per watt. The average solar panel system size in Moorestown Lenola is around 4.6 kilowatts, meaning a cost of about $8,939 for a solar installation, or $6,615 after the 30% federal solar tax credit is applied.

The true price you pay can be higher or lower than the average in Moorestown Lenola based on a variety of factors, such as the model of solar panels you choose and the solar company you hire. For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Moorestown Lenola see about $15,000 in savings on utility bills over 20 years.

You can click the button below to get connected with a vetted solar installer in Moorestown Lenola that can help you get a more accurate cost estimate for your home.

Solar savings over time in Moorestown Lenola

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 Lenola

DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar panel installer can make switching to solar power much easier. Also, if you'd like to maximize your investment in solar, opting for a solar installer can help with that too. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.

There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

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 Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

See all of the solar companies in Moorestown Lenola

Factors that Affect Solar Panel Costs in Moorestown Lenola

While the average cost of a solar system in Moorestown Lenola is $8,939, your actual cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.

Solar Equipment

The size of the solar energy 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, you can expect your total to increase by around $2,770. The kind of 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. On the other hand, more efficient panels could save you more in the long run on your power bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Moorestown Lenola average.

Solar Financing Terms

Many homeowners find the average cost of solar in Moorestown Lenola to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time due to interest. Although solar loans make adopting solar energy more accessible for Moorestown Lenola homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

Lastly, the company you choose to install your solar panel system can impact the cost. Moorestown Lenola's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.

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

Since the brand of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:

  • Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
  • Warranty: Warranties that provide coverage for 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 that kind of warranty is one sign of a quality company.
  • Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of offerings before making your decision.

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 Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Moorestown Lenola, NJ Solar Cost FAQs

How much does it cost to install solar panels in Moorestown Lenola?

This is a tough question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, 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 Moorestown Lenola?

Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.

Can you sell solar power back to the grid in Moorestown Lenola?

Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future power bills.

What solar power system size is right for my home?

To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home 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.

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