Solar Panel Cost Guide in Pittsgrove, NJ (2023 Update)
- Pittsgrove Solar Installation Cost: $8,958
- 25-Year Savings: $14,991
- Payback Period: 9.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Pittsgrove
We go over average solar pricing in Pittsgrove.
The national average cost of solar panels is $2.66 per watt, but in Pittsgrove it's 2.77 per watt. Since a 4.6-kW system is needed to cover the energy needs of a typical home in Pittsgrove, the average price of going solar will be about $8,958 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average Pittsgrove homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Even with the significant initial cost, the average Pittsgrove homeowner can save around $20,000 on their electricity bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a top solar installer in Pittsgrove that can help you get a more accurate cost estimate for your home.
Solar savings over time in Pittsgrove
| Year | Return on Investment |
|---|---|
| 1 years | $-8,000 |
| 3 years | $-6,084 |
| 5 years | $-4,168 |
| 7 years | $-2,253 |
| 9 years | $-337 |
| 11 years | $1,579 |
| 13 years | $3,495 |
| 15 years | $5,411 |
| 17 years | $7,327 |
| 19 years | $9,243 |
| 21 years | $11,159 |
| 23 years | $13,075 |
| 25 years | $14,991 |
Top Solar Installers in Pittsgrove
Installing solar panels yourself can be a difficult project, which is why getting a solar installer is a good option for many homeowners. The expertise that solar installers provide can be useful as well, especially if you don't quite know what brand of solar equipment you need.
Working with a licensed solar company 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 Pittsgrove
Factors that Affect Solar Panel Costs in Pittsgrove
While the average cost of a solar system in Pittsgrove is $8,958, your actual cost may differ. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the price of a solar energy system in Pittsgrove, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can gauge by looking at past electricity bills. Your total cost can increase by around $2,770 for each additional kilowatt you need. The kind of solar panels and equipment you want is another factor that will substantially affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Further, solar equipment consists of 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 researching a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a popular option because they lower your upfront costs and let you pay for your system over five to seven years on average. When figuring out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Pittsgrove, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and go with the company that provides the products, warranties and services you're looking for and also fit into your budget.
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 | $19,016 | 9.7 years |
| 8 kW | $2.83 | $15,822 | $25,665 | 9.5 years |
| 10 kW | $2.77 | $19,390 | $32,469 | 9.3 years |
| 12 kW | $2.71 | $22,803 | $39,428 | 9.2 years |
| 14 kW | $2.66 | $26,060 | $46,542 | 9.0 years |
| 16 kW | $2.60 | $29,163 | $53,812 | 8.8 years |
| 18 kW | $2.55 | $32,110 | $61,236 | 8.6 years |
| 20 kW | $2.49 | $34,902 | $68,816 | 8.4 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose considerably influences your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: It's important to read through your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can check your installer's reputation is by reading reviews.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose impacts 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
EcoWatch's Pittsgrove, NJ Solar Cost FAQs
How much does it cost to install solar panels in Pittsgrove?
This is a hard question to answer precisely, because the cost depends on a variety of 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Pittsgrove?
Leasing solar panels can be an appealing choice, as it typically 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.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How long do solar panels last in Pittsgrove?
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 their energy production will have decreased significantly after that point. You can 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.