Solar Panel Cost Guide in Pittsgrove, NJ (2023 Update)
- Pittsgrove Solar Installation Cost: $8,954
- 25-Year Savings: $14,994
- Payback Period: 9.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Pittsgrove
Let's take a look at the average cost of solar in Pittsgrove.
The national average cost of solar panels is $2.66 per watt, but in Pittsgrove it's 2.77 per watt. Because a 4.6-kW system is needed to cover the energy consumption 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%.
Bear 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. Many homeowners find installing solar panels is a solid investment. The average homeowner in Pittsgrove can save about $20,000 on their energy bills over 20 years.
To get a free quote from a top solar company in Pittsgrove, you can click the button below.
Solar savings over time in Pittsgrove
| Year | Return on Investment |
|---|---|
| 1 years | $-7,456 |
| 3 years | $-4,460 |
| 5 years | $-1,463 |
| 7 years | $1,533 |
| 9 years | $4,529 |
| 11 years | $7,526 |
| 13 years | $10,522 |
| 15 years | $13,518 |
| 17 years | $16,515 |
| 19 years | $19,511 |
| 21 years | $22,508 |
| 23 years | $25,504 |
| 25 years | $28,500 |
Top Solar Installers in Pittsgrove
When going solar, many homeowners choose to hire a solar installation company since handling can be a difficult project. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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
There are many factors that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,770. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Pittsgrove, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
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 Pittsgrove homeowners decide to finance their solar panel systems to make going solar more affordable. However, the interest on solar loans also increases your all-in costs, so it's important to include that in your estimate as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The final key cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Pittsgrove, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Pittsgrove have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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.