Solar Panel Cost Guide in Plumsted, NJ (2023 Update)
- Plumsted Solar Installation Cost: $8,609
- 25-Year Savings: $7,575
- Payback Period: 13.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Plumsted
Let's take a look at the average cost of solar in Plumsted.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Plumsted, the typical cost of a solar system is 2.77 per watt. Using this figure, a typical 4.4-kW system would cost about $8,609 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy use, the type of equipment you want to get, your solar contractor and more. Even with the significant initial cost, the average Plumsted homeowner can save around $14,000 on their electricity bills over 20 years, which is one of the positives of solar.
To receive a free estimate from a pre-vetted solar installation company in Plumsted, you can click the button below.
Solar savings over time in Plumsted
| Year | Return on Investment |
|---|---|
| 1 years | $-7,962 |
| 3 years | $-6,667 |
| 5 years | $-5,372 |
| 7 years | $-4,078 |
| 9 years | $-2,783 |
| 11 years | $-1,488 |
| 13 years | $-194 |
| 15 years | $1,101 |
| 17 years | $2,396 |
| 19 years | $3,690 |
| 21 years | $4,985 |
| 23 years | $6,280 |
| 25 years | $7,575 |
Top Solar Installers in Plumsted
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Using a solar company can make converting to solar power much easier. Plus, if you aren't sure what brand of solar panels and equipment you want, a solar expert can help you find the right equipment for you after a site survey and consultation.
Working with a professional solar installer 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 Plumsted
Factors that Affect Solar Panel Costs in Plumsted
Although the average cost of a solar system in Plumsted is $8,609, your actual cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $2,770 per kilowatt in Plumsted. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Plumsted, 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 a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Plumsted provide solar loans, which reduce the initial cost of installing a solar system. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you opt for to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar installation companies in Plumsted, and each can charge varying amounts for labor and equipment. Additionally, some companies in Plumsted are more knowledgeable about local solar incentives and can help you make good use of 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 | $9,784 | 13.8 years |
| 8 kW | $2.83 | $15,822 | $13,355 | 13.6 years |
| 10 kW | $2.77 | $19,390 | $17,082 | 13.3 years |
| 12 kW | $2.71 | $22,803 | $20,964 | 13.0 years |
| 14 kW | $2.66 | $26,060 | $25,001 | 12.8 years |
| 16 kW | $2.60 | $29,163 | $29,193 | 12.5 years |
| 18 kW | $2.55 | $32,110 | $33,540 | 12.2 years |
| 20 kW | $2.49 | $34,902 | $38,042 | 12.0 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
- Reputation: Long-running companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- 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 the terms of the warranty.
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 Plumsted, NJ Solar Cost FAQs
How much does it cost to install solar panels in Plumsted?
This is a tough 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 additional solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to think about when buying solar panels?
The initial cost is a very important 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 be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Plumsted?
Most states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates 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.
How long do solar panels last in Plumsted?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using 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.