Solar Panel Cost Guide in Neptune City, NJ (2023 Update)
- Neptune City Solar Installation Cost: $8,764
- 25-Year Savings: $7,419
- Payback Period: 13.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Neptune City
Find out what the average cost of solar panels are in Neptune City.
The national average cost of solar panels is $2.66 per watt, but in Neptune City it's 2.77 per watt. To account for the typical energy usage of the average home in Neptune City, most homeowners require a 4.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $8,764, or $12,533 before the federal solar tax credit of 30% is applied.
These figures are only estimates, and how much solar costs for you will most likely look different based on your energy needs and what company you want to go with. Despite the high initial cost, the average Neptune City homeowner can save about $14,000 on their electricity bills over 20 years, which is one of the perks of solar.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Neptune City
| Year | Return on Investment |
|---|---|
| 1 years | $-8,117 |
| 3 years | $-6,822 |
| 5 years | $-5,528 |
| 7 years | $-4,233 |
| 9 years | $-2,938 |
| 11 years | $-1,643 |
| 13 years | $-349 |
| 15 years | $946 |
| 17 years | $2,241 |
| 19 years | $3,535 |
| 21 years | $4,830 |
| 23 years | $6,125 |
| 25 years | $7,419 |
Top Solar Installers in Neptune City
Installing solar panels yourself can be a difficult task, which is why getting a solar installation company is a good option for many homeowners. The expertise that solar installers provide can be useful as well, especially if you don't quite know what kind of solar equipment you need.
If you're on the hunt for a solar installer in Neptune City, 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
See all of the solar companies in Neptune City
Factors that Affect Solar Panel Costs in Neptune City
Though the average cost of a solar system in Neptune City is $8,764, your final cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,770. The brand of solar panels and equipment you choose is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Neptune City homeowners choose to finance their solar panel systems to offset upfront costs. You'll have to consider the long-term cost of financing options, including the total 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Neptune City is the company you get to install your PV system. Similar to choosing a company to install new cabinets, for instance, you'll have many options for solar installers that offer a range of services for different budgets. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $9,382 | 14.1 years |
| 8 kW | $2.83 | $15,822 | $12,819 | 13.8 years |
| 10 kW | $2.77 | $19,390 | $16,412 | 13.5 years |
| 12 kW | $2.71 | $22,803 | $20,160 | 13.3 years |
| 14 kW | $2.66 | $26,060 | $24,062 | 13.0 years |
| 16 kW | $2.60 | $29,163 | $28,120 | 12.7 years |
| 18 kW | $2.55 | $32,110 | $32,333 | 12.5 years |
| 20 kW | $2.49 | $34,902 | $36,702 | 12.2 years |
How to Save on Solar Panels
The solar installer you opt for will be a major factor in determining 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 a few important things you should consider, such as:
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project completion timeline.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable 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 satisfied reviews from previous customers.
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 Neptune City, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Neptune City?
This is a hard question to answer precisely, because the cost depends on a variety of 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Neptune City?
You can't get solar panels for free in Neptune City. 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 want to own your solar panels, you can finance them with a solar loan.
How much can I save on electricity bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Neptune City, 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 contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to 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.