Solar Panel Cost Guide in Oaklyn, NJ (Mar 2023)
- Oaklyn Solar Installation Cost: $9,036
- 25-Year Savings: $8,815
- Payback Period: 12.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Oaklyn
We break down average solar pricing in Oaklyn.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Oaklyn, the typical cost of a solar system is 2.77 per watt. The average Oaklyn homeowner needs a 4.7-kilowatt system, which would cost about $9,036 with the federal tax credit, or $12,921 before the 30% tax credit is applied.
These figures are only estimates, and the cost of going solar for you may differ based on your energy needs and what company you want to go with. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $15,000 over 20 years on energy bills.
Click the button below to get connected to a highly rated solar panel company in your area for a customized estimate.
Solar savings over time in Oaklyn
| Year | Return on Investment |
|---|---|
| 1 years | $-8,322 |
| 3 years | $-6,894 |
| 5 years | $-5,466 |
| 7 years | $-4,038 |
| 9 years | $-2,610 |
| 11 years | $-1,182 |
| 13 years | $247 |
| 15 years | $1,675 |
| 17 years | $3,103 |
| 19 years | $4,531 |
| 21 years | $5,959 |
| 23 years | $7,387 |
| 25 years | $8,815 |
Top Solar Installers in Oaklyn
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Taking advantage of a solar company can make your switch to solar power much easier. Plus, if you aren't sure what type of solar panels and equipment you need, a solar expert can help you find the right equipment for you after a site survey and consultation.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Oaklyn
Factors that Affect Solar Panel Costs in Oaklyn
The cost of installing a solar system in Oaklyn can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of a solar system in Oaklyn, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by about $2,770 for each additional kilowatt you need. 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 choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your electric bills. In addition, add-on products, such as solar batteries, can bring your total well above the Oaklyn average.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a solid choice because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also increases your overall costs, so it's crucial to consider that as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installer you select will influence your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk prices, 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 | $10,892 | 13.2 years |
| 8 kW | $2.83 | $15,822 | $14,833 | 12.9 years |
| 10 kW | $2.77 | $19,390 | $18,929 | 12.7 years |
| 12 kW | $2.71 | $22,803 | $23,181 | 12.4 years |
| 14 kW | $2.66 | $26,060 | $27,587 | 12.1 years |
| 16 kW | $2.60 | $29,163 | $32,148 | 11.9 years |
| 18 kW | $2.55 | $32,110 | $36,865 | 11.6 years |
| 20 kW | $2.49 | $34,902 | $41,737 | 11.4 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Contract: When looking through your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Oaklyn, NJ Solar Cost FAQs
How much does it cost to install solar panels in Oaklyn?
This is a tough question to answer exactly, 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. It will cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Oaklyn?
Most states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
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 typically 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.