Solar Panel Cost Guide in Perth Amboy, NJ (Aug 2022)
- Perth Amboy Solar Installation Cost: $9,593
- 25-Year Savings: $8,257
- Payback Period: 13.4 Years
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Updated 7/19/2022
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Average Cost of Solar Panels in Perth Amboy
See how much it might cost to install solar panels in Perth Amboy.
The national average cost of solar panels is $2.66 per watt, but in Perth Amboy it's $3 per watt. Because a 4.7-kW system is needed to cover the energy usage of a typical home in Perth Amboy, the average price of going solar will be about $9,593 before claiming the federal solar tax credit.
These figures are only averages, and how much solar costs for you will differ based on your energy needs and what company you choose to go with. For many homeowners, the upfront investment in solar power is worth paying. On average homeowners in Perth Amboy see about $14,000 in savings on utility bills over 20 years.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Perth Amboy
| Year | Return on Investment |
|---|---|
| 1 years | $-8,879 |
| 3 years | $-7,451 |
| 5 years | $-6,023 |
| 7 years | $-4,595 |
| 9 years | $-3,167 |
| 11 years | $-1,739 |
| 13 years | $-311 |
| 15 years | $1,117 |
| 17 years | $2,545 |
| 19 years | $3,973 |
| 21 years | $5,401 |
| 23 years | $6,829 |
| 25 years | $8,257 |
Top Solar Installers in Perth Amboy
Many homeowners choose to hire a solar panel company since trying to put up solar panels by yourself can be time-consuming. A solar company can also help save you money over time by offering warranties, repairs and system component replacements.
If you're looking for a solar installer in Perth Amboy, the EcoWatch team has put together a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
The Green Panel
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Perth Amboy
Factors that Affect Solar Panel Costs in Perth Amboy
The cost of installing a solar system in Perth Amboy 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 you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment Size
The size of the system you need is one of the largest factors that influences the overall cost of installing solar panels. That's why it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The brand of solar panels and equipment you choose is another factor that will greatly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment is more than just the solar panels themselves. You'll also need to make decisions 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 falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many Perth Amboy homeowners opt to finance their solar panel systems to offset upfront costs. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you choose to handle your switch to green energy can play a part in your total costs. There are about 3 solar panel companies operating in Perth Amboy, and each can charge different amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to 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 | $12,791 | $10,094 | 14.0 years |
| 8 kW | $2.83 | $16,726 | $13,787 | 13.7 years |
| 10 kW | $2.77 | $20,498 | $17,644 | 13.4 years |
| 12 kW | $2.71 | $24,106 | $21,665 | 13.2 years |
| 14 kW | $2.66 | $27,549 | $25,849 | 12.9 years |
| 16 kW | $2.60 | $30,829 | $30,198 | 12.6 years |
| 18 kW | $2.55 | $33,945 | $34,711 | 12.4 years |
| 20 kW | $2.49 | $36,896 | $39,387 | 12.1 years |
Solar Incentives in Perth Amboy
| 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
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 decide on the right company for you, here are some tips to keep in mind:
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely have a good reputation and are qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different price points 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
Best Technology
The Green Panel
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Perth Amboy, NJ Solar Cost FAQs
How much does it cost to install solar panels in Perth Amboy?
The average cost of solar panels in Perth Amboy 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 like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to consider when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is going solar worth it?
Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can 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 get between 20 and 35 panels to cover 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.
