Solar Panel Cost Guide in Plumsted, NJ (2024 Update)
- Plumsted Solar Installation Cost: $10,964
- 25-Year Savings: $7,580
- Payback Period: 16.9 Years
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Average Cost of Solar Panels in Plumsted
We go over average solar pricing 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 4 per watt.Since a 4.4-kW system is needed to cover the energy costs of a typical home in Plumsted, the average price of going solar will be about $10,964 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of solar system you want, your solar contractor and more.But, once you've paid the upfront cost of installation, the payback for most homeowners is typically fruitful, with a net average savings of about $14,000 over 20 years on energy bills.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Plumsted
| Year | Return on Investment |
|---|---|
| 1 years | $-9,905 |
| 3 years | $-7,787 |
| 5 years | $-5,668 |
| 7 years | $-3,550 |
| 9 years | $-1,432 |
| 11 years | $687 |
| 13 years | $2,805 |
| 15 years | $4,923 |
| 17 years | $7,042 |
| 19 years | $9,160 |
| 21 years | $11,279 |
| 23 years | $13,397 |
| 25 years | $15,515 |
Top Solar Installers in Plumsted
Putting up solar panels on your own can be a dangerous task, which is why getting a solar installer is a good option for many homeowners. Another advantage of using a solar installer is that they can help you optimize your investment by bringing down your future costs of repairs and replacements because of warranties and informing you of local incentives you can take advantage of.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Plumsted
Factors that Affect Solar Panel Costs in Plumsted
The cost of installing a solar system in Plumsted can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production 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 $3,530.There are a lot of different solar panel brands and the one you choose also changes the cost. In many cases, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Plumsted provide solar loans, which reduce the initial cost of installing solar panels.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Plumsted is the company you get to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, you’ll have many options for solar installers that offer a range of services at different costs.The size of the company sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.67 | $15,419 | $6,464 | 17.6 years |
| 8 kW | $3.60 | $20,163 | $9,014 | 17.3 years |
| 10 kW | $3.53 | $24,710 | $11,762 | 16.9 years |
| 12 kW | $3.46 | $29,059 | $14,708 | 16.6 years |
| 14 kW | $3.39 | $33,210 | $17,851 | 16.3 years |
| 16 kW | $3.32 | $37,164 | $21,192 | 15.9 years |
| 18 kW | $3.25 | $40,920 | $24,730 | 15.6 years |
| 20 kW | $3.18 | $44,478 | $28,466 | 15.2 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
- Solar Panel Brands: Different companies will carry various brands and types of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Plumsted, NJ Solar Cost FAQs
How much does it cost to install solar panels in Plumsted?
The average cost of solar panels in Plumsted is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Plumsted?
You can’t get solar panels for free in Plumsted. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Plumsted?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.