Solar Panel Cost Guide in Pennsville, NJ (2023 Update)
- Pennsville Solar Installation Cost: $11,411
- 25-Year Savings: $13,806
- Payback Period: 12.5 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Pennsville
Let’s have a look at the average cost of solar in Pennsville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Pennsville, the typical cost of a solar system is 4 per watt.The average solar panel system size in Pennsville is around 4.6 kilowatts, meaning a cost of about $11,411 for a solar installation, or $16,318 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy needs, the type of equipment you want, your solar contractor and more.Despite the large upfront cost, the average Pennsville homeowner can save around $19,000 on their power bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a top solar panel company in your area for a personalized estimate.
Solar savings over time in Pennsville
| Year | Return on Investment |
|---|---|
| 1 years | $-9,913 |
| 3 years | $-6,917 |
| 5 years | $-3,920 |
| 7 years | $-924 |
| 9 years | $2,073 |
| 11 years | $5,069 |
| 13 years | $8,065 |
| 15 years | $11,062 |
| 17 years | $14,058 |
| 19 years | $17,054 |
| 21 years | $20,051 |
| 23 years | $23,047 |
| 25 years | $26,044 |
Top Solar Installers in Pennsville
Many homeowners opt for a solar installer since trying to put up solar panels by yourself can be hard. Local solar companies can also help you maximize your return on investment by assisting with any local incentives you can benefit from and by providing warranties and repairs.
If you’d like to switch to solar energy but still aren’t sure which solar system installer to go with, here are our suggestions for providers nearby:
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 Pennsville
Factors that Affect Solar Panel Costs in Pennsville
Though the average cost of a solar system in Pennsville is $11,411, your actual cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,530. There are many different solar panel brands and the one you choose also changes the cost. Generally, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you’re looking to install 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
If paying for solar panels in cash is difficult, solar loans are a solid route because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also adds to your all-in costs, so it’s important to consider that as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you go with to handle your switch to green energy can play a part in your total costs. There are about 3 solar installation companies in Pennsville, and each can charge varying amounts for labor and equipment.The company’s size can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater 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 companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.67 | $15,419 | $14,153 | 13.0 years |
| 8 kW | $3.60 | $20,163 | $19,266 | 12.8 years |
| 10 kW | $3.53 | $24,710 | $24,576 | 12.5 years |
| 12 kW | $3.46 | $29,059 | $30,085 | 12.3 years |
| 14 kW | $3.39 | $33,210 | $35,791 | 12.0 years |
| 16 kW | $3.32 | $37,164 | $41,694 | 11.8 years |
| 18 kW | $3.25 | $40,920 | $47,796 | 11.5 years |
| 20 kW | $3.18 | $44,478 | $54,095 | 11.3 years |
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. Since picking a company can be a tough decision, we have some tips to help you, such as:
- 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 quality aftercare and customer support, such as part repairs and replacements.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project timeline.
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one mark of a quality company.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 Pennsville, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Pennsville?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Pennsville?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The drawback 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 Pennsville have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use 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.