Solar Panel Cost Guide in Pennsauken, NJ (Jun 2022)

  • Pennsauken Solar Installation Cost: $9,552
  • 25-Year Savings: $8,298
  • Payback Period: 13.4 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 5/26/2022

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Average Cost of Solar Panels in Pennsauken

Let's have a look at the average cost of solar panels in Pennsauken.

The national average cost of solar panels is $2.66 per watt, but in Pennsauken it's $3 per watt. Since a 4.7-kW system is needed to cover the energy usage of a typical home in Pennsauken, the average price of going solar will be about $9,552 before claiming the federal solar tax credit.

Bear in mind that the figures above are only estimates based on the average energy use of Pennsauken homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find going solar is a sound investment. The average homeowner in Pennsauken can save around $15,000 on their electricity bills over 20 years.

Click the button below to get connected to a top solar company in Pennsauken for a customized quote.

Solar savings over time in Pennsauken

Year Return on Investment
1 years $-8,838
3 years $-7,410
5 years $-5,982
7 years $-4,554
9 years $-3,126
11 years $-1,698
13 years $-270
15 years $1,158
17 years $2,586
19 years $4,014
21 years $5,442
23 years $6,870
25 years $8,298

Top Solar Installers in Pennsauken

Putting up solar panels by yourself can be a dangerous project, which is why using a solar installation company is a good option for many homeowners. A solar installer can also help save you money over time by providing warranties, repairs and component replacements.

There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:

Best National Provider

SunPower

5.0

  • Pros iconMost efficient panels on the market
  • Pros iconNational coverage
  • Pros iconCradle to Cradle sustainability certification
  • Pros iconGreat warranty coverage
  • Con iconExpensive
  • Con iconCustomer service varies by local dealer

Best Regional Coverage

Momentum Solar

4.5

  • Pros iconGreat warranty coverage
  • Pros iconRepresentatives are experts on local policies
  • Pros iconConcierge service ensures steady communication
  • Con iconSlightly limited service offerings

Best Technology

Tesla Energy

4.5

  • Pros iconPrice-match guarantee
  • Pros iconSleek, efficient, and durable solar panels
  • Pros iconBest solar battery on the market
  • Con iconSome reported issues with customer service
  • Con iconCustomer service varies by local dealer

See all of the solar companies in Pennsauken

Factors that Affect Solar Panel Costs in Pennsauken

There are a number of criteria that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.

Solar Equipment Size

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size. Solar power systems that have higher efficiency or power generation 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 model of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment is more than 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 looking into a solar system that's in your budget.

Solar Financing Terms

Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Pennsauken homeowners choose to finance their solar panel systems to make going solar more affordable. However, the interest on solar loans also increase your overall costs, so it's important to keep that in mind as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.

Solar Panel Installation Company

The remaining key cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Pennsauken, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. The size of the company can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.

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 $12,791 $10,201 13.9 years
8 kW $2.83 $16,726 $13,929 13.6 years
10 kW $2.77 $20,498 $17,821 13.4 years
12 kW $2.71 $24,106 $21,878 13.1 years
14 kW $2.66 $27,549 $26,098 12.8 years
16 kW $2.60 $30,829 $30,482 12.6 years
18 kW $2.55 $33,945 $35,030 12.3 years
20 kW $2.49 $36,896 $39,742 12.0 years

Solar Incentives in Pennsauken

Name NJ Clean Energy- Residential New Construction Program
Incentive Amount Incentives depend on the HERS score and the classification
Single family homes: Ranges from $1,125 to - 24,250
Multi-single homes: Ranges from $1,125 to $18,188
Multifamily homes: Ranges from $625-$12,125
Incentive Max Multifamily: up to $12,125
Individual homes: up to $24,250
Website Visit here
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
Incentive Amount 100% of value added by renewable system
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Incentive Amount Determined by the market.
In June 2016, SREC traded at an average price of $229.90.
Incentive Max Maximum price set by the SACP for the particular year.
Website Visit here
More Info Click here

Name PSE&G - Solar Loan Program
Website Visit here
More Info Click here

Name Successor Solar Incentive (SuSI) Program
Incentive Amount Net-Metered Residential: $90/SREC-II

Small Net-Metered Non-Residential located on Rooftop, Carport, Canopy and Floating Solar
Projects smaller than 1 MW (dc): $100/SREC-II, $120 for public entities
Projects 1 MW to 5 MW (dc): $90/SREC-II, $110 for public entities

Net Metered Non-Residential Ground Mount
Projects smaller than 1 MW (dc): $85/SREC-II, $105 for public entities
Projects 1 MW to 5 MW (dc): $80/SREC-II, $100 for public entities

Community Solar LMI: $90/SREC-II
Community Solar Non-LMI: $70/SREC-II
Incentive Max MW-DC Capacity Blocks
Net Metered Residential: 150 MW
Net Metered Non-Residential: 150 MW
Community Solar (LMI and Non-LMI): 150 MW
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
Incentive Max None
More Info Click here

How to Save on Solar Panels

The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:

  • Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
  • Contract: When looking over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
  • Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
  • 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 service, such as part repairs and replacements.

Best National Provider

SunPower

5.0

  • Pros iconMost efficient panels on the market
  • Pros iconNational coverage
  • Pros iconCradle to Cradle sustainability certification
  • Pros iconGreat warranty coverage
  • Con iconExpensive
  • Con iconCustomer service varies by local dealer

Best Regional Coverage

Momentum Solar

4.5

  • Pros iconGreat warranty coverage
  • Pros iconRepresentatives are experts on local policies
  • Pros iconConcierge service ensures steady communication
  • Con iconSlightly limited service offerings

Best Technology

Tesla Energy

4.5

  • Pros iconPrice-match guarantee
  • Pros iconSleek, efficient, and durable solar panels
  • Pros iconBest solar battery on the market
  • Con iconSome reported issues with customer service
  • Con iconCustomer service varies by local dealer

EcoWatch's Pennsauken, NJ Solar Cost FAQs

How much does it cost to install solar panels in Pennsauken?

This is a tough question to answer exactly, because the cost depends on a few different 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

Is it better to lease or buy solar panels in Pennsauken?

Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.

Does Pennsauken have a net metering program?

Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates 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 Pennsauken?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.

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.

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