Solar Panel Cost Guide in Plumsted, NJ (Sep 2022)

  • Plumsted Solar Installation Cost: $8,609
  • 25-Year Savings: $7,575
  • Payback Period: 13.3 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Plumsted

Let's take a look at the average cost of solar in Plumsted.

While the national average of solar panels is $2.66 per watt, solar panels in Plumsted generally cost about $3. Using this figure, a typical 4.4 would cost about $8,609 before the 30% federal solar tax credit is applied.

Keep in mind that the figures above are only estimates based on the average energy use of Plumsted homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find adopting solar power is a solid investment. The average homeowner in Plumsted can save around $14,000 on their electricity bills over 20 years.

For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, 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

Installing solar panels by yourself can be a stressful task, which is why using a solar installation company is a good option for many homeowners. Also, companies with a good reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.

Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Plumsted

Factors that Affect Solar Panel Costs in Plumsted

Although the average cost of solar panels in Plumsted is $8,609, your actual cost may differ. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.

Solar Equipment Size

The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size. Solar power systems that have greater efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,770. Some solar panel brands — like Maxeon from SunPower — are more costly 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

Many homeowners find the average cost of solar in Plumsted to be too costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in paying more over time due to interest. 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 upfront can lower the total interest paid over time.

Solar Panel Installation Company

A final consideration when trying to estimate the cost of solar for your home or business in Plumsted is the company you choose to install your solar system. As with choosing a company to renovate your kitchen, for instance, you'll have many options for solar installers that offer a range of services for different budgets. The size of the company can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.

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

Solar Incentives in Plumsted

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 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

The solar panel company you choose will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, such as:

  • Warranty: Warranties that cover defective panels and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
  • Contract: Even though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
  • 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.
  • Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 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.

Can you get solar panels for free in Plumsted?

A solar panel system isn't free in Plumsted, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Can you sell solar power back to the grid in Plumsted?

Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.

How often do you have to replace solar panels?

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 once you've had 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.

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