Solar Panel Cost Guide in Point Pleasant Beach, NJ (Mar 2023)
- Point Pleasant Beach Solar Installation Cost: $8,609
- 25-Year Savings: $7,575
- Payback Period: 13.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Point Pleasant Beach
We break down average solar pricing in Point Pleasant Beach.
The average cost of solar panels in Point Pleasant Beach is 2.77 per watt. The average solar panel system size in Point Pleasant Beach is around 4.4 kilowatts, meaning a cost of about $8,609 for a solar installation, or $12,311 before the 30% federal solar tax credit is applied.
How much you pay can go higher or lower than the average in Point Pleasant Beach based on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire. Many homeowners find going solar is a solid investment. The average homeowner in Point Pleasant Beach can save about $14,000 on their power bills over 20 years.
You can click the button below to get connected with a top solar company in Point Pleasant Beach for a quote for your home.
Solar savings over time in Point Pleasant Beach
| 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 Point Pleasant Beach
When making the switch to solar, many homeowners choose to use a solar installation company since installing solar panels yourself can be a challenging project. Solar installers offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some near you:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Point Pleasant Beach
Factors that Affect Solar Panel Costs in Point Pleasant Beach
For many Point Pleasant Beach homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Point Pleasant Beach, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need for your home, 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 nearly $2,770. The type of solar panels and equipment you get is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a solid choice because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only 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 consideration when trying to estimate the cost of solar for your home or business in Point Pleasant Beach is the company you get to install your solar system. Similar to choosing a company to renovate your kitchen, for example, there's no shortage of solar installers that provide a range of services for different budgets. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the company that offers the products, warranties and services you're looking for and also fit into your budget.
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 solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one mark of a good company.
- Installation Process: Make sure you're aligned with the installer with regard to how the installation process will go and what you need to do before your solar system is installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
- Contract: Read the contract terms thoroughly to make sure you understand how much it will cost, project completion 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 Technology
Tesla Energy
- 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 Point Pleasant Beach, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Point Pleasant Beach?
This is a tough question to answer exactly, because the cost depends on many 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 cost more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Point Pleasant Beach is currently $423,800, which means you could be looking at a value of about $17,376 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Point Pleasant Beach is a rewarding investment.
How long do solar panels last in Point Pleasant Beach?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.