Solar Panel Cost Guide in Pitman, NJ (2023 Update)
- Pitman Solar Installation Cost: $9,016
- 25-Year Savings: $13,744
- Payback Period: 9.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Pitman
Let's take a look at the average cost of solar in Pitman.
While the national average of solar panels is $2.66 per watt, solar panels in Pitman typically cost around 2.77. To cover the typical energy needs of the average home in Pitman, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,016, or $12,893 before the federal solar tax credit of 30% is applied.
The true cost of your system can go above or below the average in Pitman depending on a variety of factors, such as the brand of solar panels you choose and the solar company you hire. Many homeowners find adopting solar power is a solid investment. The average homeowner in Pitman can save around $19,000 on their energy bills over 20 years.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Pitman
| Year | Return on Investment |
|---|---|
| 1 years | $-8,106 |
| 3 years | $-6,285 |
| 5 years | $-4,464 |
| 7 years | $-2,643 |
| 9 years | $-822 |
| 11 years | $998 |
| 13 years | $2,819 |
| 15 years | $4,640 |
| 17 years | $6,461 |
| 19 years | $8,282 |
| 21 years | $10,103 |
| 23 years | $11,924 |
| 25 years | $13,744 |
Top Solar Installers in Pitman
Although it's possible to install solar panels on your own, it involves extra labor and expertise. For that reason, most homeowners choose a solar panel installer. The payback period on a solar system will vary depending on factors like your location and energy use, but working with a solar installer can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
If you'd like to start using solar energy but still aren't sure which solar installer to go with, here are our recommendations for providers near you:
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
Tesla Energy
- 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 Pitman
Factors that Affect Solar Panel Costs in Pitman
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few key factors that determine your overall cost in Pitman: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay about $2,770 per kilowatt in Pitman. The brand of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond 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 falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Pitman to be too costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can impact your pricing. Pitman's solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $17,283 | 10.3 years |
| 8 kW | $2.83 | $15,822 | $23,354 | 10.1 years |
| 10 kW | $2.77 | $19,390 | $29,580 | 9.9 years |
| 12 kW | $2.71 | $22,803 | $35,961 | 9.7 years |
| 14 kW | $2.66 | $26,060 | $42,498 | 9.5 years |
| 16 kW | $2.60 | $29,163 | $49,190 | 9.3 years |
| 18 kW | $2.55 | $32,110 | $56,036 | 9.1 years |
| 20 kW | $2.49 | $34,902 | $63,038 | 8.9 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. Because selecting a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: The kind of solar panel you'd like to install plays a role in which company you should choose, since different companies provide different panels.
- Contract: It's important to read through your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can research your installer's reputation is by reading reviews.
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
Tesla Energy
- 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 Pitman, NJ Solar Cost FAQs
How much does it cost to install solar panels in Pitman?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly 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 other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Pitman have a net metering program?
Most states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much 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 install 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.