Solar Panel Cost Guide in Point Pleasant, NJ (2024 Update)
- Point Pleasant Solar Installation Cost: $10,964
- 25-Year Savings: $15,515
- Payback Period: 16.9 Years
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Average Cost of Solar Panels in Point Pleasant
We go over average solar pricing in Point Pleasant.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Point Pleasant, the typical cost of a solar system is 4 per watt.Because a 4.4-kW system is needed to cover the energy needs of a typical home in Point Pleasant, the average price of going solar will be about $10,964 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of installing solar panels can vary depending on a few factors, such as how many panels you need, your energy consumption and what solar installer you go with.For many homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $14,000 in savings on energy bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Point Pleasant
| 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 Point Pleasant
When switching to solar energy, many homeowners prefer to hire a solar company since installing a solar system yourself can be a time-consuming project. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives you can benefit from and by providing warranties and repairs.
Working with a licensed 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
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 Point Pleasant
Factors that Affect Solar Panel Costs in Point Pleasant
There are several criteria that can determine your solar system 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
When it comes to estimating the cost of solar panels in Point Pleasant, 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 consumption, which you can determine by looking at past electricity bills. Your overall cost can increase by around $3,530 for each additional kilowatt you need.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Point Pleasant homeowners choose to finance their solar panel systems to make going solar more affordable.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Point Pleasant is the company you hire to install your solar panel system. As with choosing a company to build a deck or pool, for instance, you’ll have many options for solar installers that provide a range of services at different price points.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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
There are a large number of companies available in Point Pleasant, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: If you’re concerned about the longevity of your solar system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, project timeline rebates and warranties.
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 Point Pleasant, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Point Pleasant?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. 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 Point Pleasant?
You can’t get solar panels for free in Point Pleasant. However, you may still be able to afford 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.
Do solar panels increase your home value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having 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.