Solar Panel Cost Guide in Ocean City, NJ (2023 Update)
- Ocean City Solar Installation Cost: $8,207
- 25-Year Savings: $14,554
- Payback Period: 9.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Ocean City
See how much it might cost to make the switch to solar in Ocean City.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Ocean City, the average cost of a solar system is 2.77 per watt. Since a 4.2-kW system is needed to cover the energy needs of a typical home in Ocean City, the average price of going solar will be about $8,202 after claiming the federal solar tax credit of 30%.
How much you pay can be higher or lower than the average in Ocean City based on a few factors, such as the kind of solar panels you choose and the solar installer you hire. Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Ocean City can save around $20,000 on their power bills over 20 years.
To get a free quote from a top solar company in Ocean City, you can click the button below.
Solar savings over time in Ocean City
| Year | Return on Investment |
|---|---|
| 1 years | $-8,131 |
| 3 years | $-7,979 |
| 5 years | $-7,827 |
| 7 years | $-7,676 |
| 9 years | $-7,524 |
| 11 years | $-7,372 |
| 13 years | $-7,220 |
| 15 years | $-7,069 |
| 17 years | $-6,917 |
| 19 years | $-6,765 |
| 21 years | $-6,613 |
| 23 years | $-6,462 |
| 25 years | $-6,310 |
Top Solar Installers in Ocean City
Although you can install solar panels yourself, it takes extra time and expertise. Because of that, the majority of homeowners choose a solar panel installer. Also, companies with a high reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 City
Factors that Affect Solar Panel Costs in Ocean City
The cost of installing a solar system in Ocean City can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $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 get 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, higher efficiency could save you more over time on your power bills. Additionally, extra products, like solar batteries, can bump up your total well above the Ocean City average.
Solar Financing Terms
Most solar installers in Ocean City offer solar loans, which reduce your upfront costs of installing solar panels. However, the interest on solar loans also adds to your total costs, so it's crucial to take that into consideration as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you select will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that provides the products, warranties and services you want and also fit into your budget.
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 | $20,167 | 9.4 years |
| 8 kW | $2.83 | $15,822 | $27,200 | 9.2 years |
| 10 kW | $2.77 | $19,390 | $34,387 | 9.0 years |
| 12 kW | $2.71 | $22,803 | $41,730 | 8.8 years |
| 14 kW | $2.66 | $26,060 | $49,228 | 8.7 years |
| 16 kW | $2.60 | $29,163 | $56,881 | 8.5 years |
| 18 kW | $2.55 | $32,110 | $64,689 | 8.3 years |
| 20 kW | $2.49 | $34,902 | $72,652 | 8.1 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 find the right company for you, here are some tips to keep in mind:
- Contract: Before you sign a contract with a solar company, make sure to look it over completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the completion timeline.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
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 City, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Ocean City?
The average cost of solar panels in Ocean City is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Ocean City?
Solar panels aren't free in Ocean City, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How will installing solar panels impact how much my home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Ocean City is currently $572,561, which means you could be looking at a value of about $23,475 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Ocean City is a fruitful investment.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.