Solar Panel Cost Guide in Panther Valley, NJ (2023 Update)
- Panther Valley Solar Installation Cost: $9,307
- 25-Year Savings: $6,877
- Payback Period: 14.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Panther Valley
Let's have a look at the average cost of solar in Panther Valley.
Although the national average of solar panels is $2.66 per watt, solar panels in Panther Valley generally cost around 2.77. The average solar panel system size in Panther Valley is around 4.8 kilowatts, meaning a cost of about $9,307 for a solar installation, or $13,309 before the 30% federal solar tax credit is applied.
These figures are only averages, and how much solar costs for you will vary based on your specific situation and what company you want to go with. With typical savings of about $13,000 on power bills over 20 years, many homeowners in Panther Valley find going solar can be quite rewarding.
You can click the button below to get connected with a pre-vetted solar company in Panther Valley that can help you get a more accurate cost estimate for your home.
Solar savings over time in Panther Valley
| Year | Return on Investment |
|---|---|
| 1 years | $-8,660 |
| 3 years | $-7,365 |
| 5 years | $-6,070 |
| 7 years | $-4,776 |
| 9 years | $-3,481 |
| 11 years | $-2,186 |
| 13 years | $-892 |
| 15 years | $403 |
| 17 years | $1,698 |
| 19 years | $2,992 |
| 21 years | $4,287 |
| 23 years | $5,582 |
| 25 years | $6,877 |
Top Solar Installers in Panther Valley
Many homeowners decide to hire a solar panel company since figuring out how to install solar panels on your own can be hard. The expertise that solar installers provide can be invaluable as well, especially if you don't quite know what brand of solar equipment you need.
Working with a professional 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
See all of the solar companies in Panther Valley
Factors that Affect Solar Panel Costs in Panther Valley
The cost of installing a solar system in Panther Valley can vary by more than $10,000 from home to home. Your actual cost depends on 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 cost of a solar system in Panther Valley, 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 usage, which you can gauge by looking at past energy bills. Your total cost can increase by around $2,770 for each additional kilowatt you need. There are many different solar panel brands and the one you choose also changes the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Panther Valley, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also increases your overall costs, so it's important 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 hire to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Panther Valley, and each can charge different amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $8,140 | 14.9 years |
| 8 kW | $2.83 | $15,822 | $11,163 | 14.7 years |
| 10 kW | $2.77 | $19,390 | $14,342 | 14.4 years |
| 12 kW | $2.71 | $22,803 | $17,675 | 14.1 years |
| 14 kW | $2.66 | $26,060 | $21,164 | 13.8 years |
| 16 kW | $2.60 | $29,163 | $24,808 | 13.5 years |
| 18 kW | $2.55 | $32,110 | $28,607 | 13.2 years |
| 20 kW | $2.49 | $34,902 | $32,561 | 12.9 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, 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:
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: When making the switch to solar energy, it's crucial to maintain an open line of communication with your solar panel installer. Make sure you understand how the installation process works and the completion timeline.
- Contract: When reading over your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two 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 past 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 Panther Valley, NJ Solar Cost FAQs
How much does it cost to install solar panels in Panther Valley?
The average cost of solar panels in Panther Valley 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 stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Panther Valley?
You can't get solar panels for free in Panther Valley. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
How much can I save on power bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Panther Valley, 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 check with a local solar installer to see how many panels can fit on your roof.
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 needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.