Solar Panel Cost Guide in Ocean Acres, NJ (2023 Update)
- Ocean Acres Solar Installation Cost: $8,604
- 25-Year Savings: $10,868
- Payback Period: 11.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Ocean Acres
We go over average solar pricing in Ocean Acres.
Although the national average of solar panels is $2.66 per watt, solar panels in Ocean Acres generally cost around 2.77. The average Ocean Acres homeowner needs a 4.4-kilowatt system, which would cost about $8,609 with the federal tax credit, or $12,311 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of installing solar panels can vary based on multiple factors, such as what size system you need, your energy consumption and what company you go with. With average savings of about $17,000 on energy bills over 20 years, many homeowners in Ocean Acres find going solar can be quite rewarding.
You can click the button below to get connected with a vetted solar installer in Ocean Acres that can help you get a more accurate cost estimate for your home.
Solar savings over time in Ocean Acres
| Year | Return on Investment |
|---|---|
| 1 years | $-7,106 |
| 3 years | $-4,109 |
| 5 years | $-1,113 |
| 7 years | $1,883 |
| 9 years | $4,880 |
| 11 years | $7,876 |
| 13 years | $10,873 |
| 15 years | $13,869 |
| 17 years | $16,865 |
| 19 years | $19,862 |
| 21 years | $22,858 |
| 23 years | $25,855 |
| 25 years | $28,851 |
Top Solar Installers in Ocean Acres
When going solar, many homeowners prefer to go with a solar installer since installing a solar system yourself can be a difficult project. The expertise that solar companies offer can be valuable as well, particularly if you aren't sure what kind of solar equipment would be right for your home.
Working with a professional solar company can help you make the most of your investment in solar. 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
See all of the solar companies in Ocean Acres
Factors that Affect Solar Panel Costs in Ocean Acres
The cost of installing a solar system in Ocean Acres can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay about $2,770 per kilowatt in Ocean Acres. The type of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Ocean Acres homeowners decide to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of financing options, including the amount of 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 more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you hire to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Ocean Acres, and each can charge different amounts for labor and equipment. The company's size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger 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 | $14,231 | 11.5 years |
| 8 kW | $2.83 | $15,822 | $19,284 | 11.3 years |
| 10 kW | $2.77 | $19,390 | $24,493 | 11.0 years |
| 12 kW | $2.71 | $22,803 | $29,857 | 10.8 years |
| 14 kW | $2.66 | $26,060 | $35,376 | 10.6 years |
| 16 kW | $2.60 | $29,163 | $41,051 | 10.4 years |
| 18 kW | $2.55 | $32,110 | $46,880 | 10.2 years |
| 20 kW | $2.49 | $34,902 | $52,864 | 9.9 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose greatly affects your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: The model of solar panel you want plays a role in which installer you should opt for, since different companies provide different panels.
- Contract: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
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 Ocean Acres, NJ Solar Cost FAQs
How much does it cost to install solar panels in Ocean Acres?
This is a tough question to answer exactly, 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 other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost 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.
Does Ocean Acres have a net metering program?
Most states have net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Ocean Acres?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can 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.