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

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Moorestown Lenola

Let's have a look at the average cost of solar panels in Moorestown Lenola.

In Moorestown Lenola, solar panels cost about $3 per watt on average. 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.

Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy use, the type of equipment you choose, your solar contractor and more. For many homeowners, the upfront investment in solar is worth paying. On average homeowners in Moorestown Lenola see about $15,000 in savings on utility bills over 20 years.

For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.

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

Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Going with an installer can make swapping over to solar power much easier. In addition, if you'd like to maximize your investment in solar, opting for a solar company can help with that as well. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives and net metering programs.

If you're searching for a solar installer in Moorestown Lenola, we've compiled a list of our top suggestions here:

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

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

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,770. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get 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. In addition, extra products, such as solar batteries, can bump up your total well above the Moorestown Lenola average.

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 Moorestown Lenola homeowners choose to finance their solar panel systems to offset upfront costs. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.

Solar Panel Installation Company

The solar panel installation company you select will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Moorestown Lenola know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 $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 a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
  • 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.
  • Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
  • Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.

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

What is the average cost of installing solar panels in Moorestown Lenola?

This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.

Is it better to lease or buy solar panels in Moorestown Lenola?

Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The downside 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 maximize your savings.

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

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

What solar power system size is right for my home?

To figure out what solar panel system size you need, you need to know 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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