Solar Panel Cost Guide in Port Reading, NJ (Aug 2022)
- Port Reading Solar Installation Cost: $9,593
- 25-Year Savings: $8,257
- Payback Period: 13.4 Years
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Updated 7/19/2022
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Average Cost of Solar Panels in Port Reading
Let's take a look at the average cost of solar in Port Reading.
Although the national average of solar panels is $2.66 per watt, solar panels in Port Reading generally cost about $3. To account for the typical energy usage of the average home in Port Reading, most homeowners require a 4.7-kilowatt system. Using the figure above, a solar installation costs about $9,593, or $7,099 after the federal solar tax credit is applied.
How much you pay can go higher or lower than the average in Port Reading depending on a variety of factors, such as the brand of solar panels you choose and the solar company you hire. Many homeowners find going solar is a rewarding investment. The average homeowner in Port Reading can save about $14,000 on their electricity bills over 20 years.
You can click the button below to get connected with a top solar company in Port Reading for a quote for your home.
Solar savings over time in Port Reading
| Year | Return on Investment |
|---|---|
| 1 years | $-8,879 |
| 3 years | $-7,451 |
| 5 years | $-6,023 |
| 7 years | $-4,595 |
| 9 years | $-3,167 |
| 11 years | $-1,739 |
| 13 years | $-311 |
| 15 years | $1,117 |
| 17 years | $2,545 |
| 19 years | $3,973 |
| 21 years | $5,401 |
| 23 years | $6,829 |
| 25 years | $8,257 |
Top Solar Installers in Port Reading
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Going with a solar company can make swapping over to solar much easier. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and system component replacements.
If you're searching for a solar installer in Port Reading, the EcoWatch team has organized a list of our top suggestions here:
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
The Green Panel
- 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 Port Reading
Factors that Affect Solar Panel Costs in Port Reading
Though the average cost of solar panels in Port Reading is $9,593, your final cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment Size
The size of the solar system you need for your home is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,770. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Port Reading, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries 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 Port Reading homeowners choose to finance their solar panel systems to make paying for solar more affordable. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar installer you go with to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies in Port Reading, and each can charge different amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $12,791 | $10,094 | 14.0 years |
| 8 kW | $2.83 | $16,726 | $13,787 | 13.7 years |
| 10 kW | $2.77 | $20,498 | $17,644 | 13.4 years |
| 12 kW | $2.71 | $24,106 | $21,665 | 13.2 years |
| 14 kW | $2.66 | $27,549 | $25,849 | 12.9 years |
| 16 kW | $2.60 | $30,829 | $30,198 | 12.6 years |
| 18 kW | $2.55 | $33,945 | $34,711 | 12.4 years |
| 20 kW | $2.49 | $36,896 | $39,387 | 12.1 years |
Solar Incentives in Port Reading
| 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 | PSE&G - Solar Loan Program |
| 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
There are numerous companies to choose from in Port Reading, 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:
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you hire.
- Contract: Before you sign a contract with a solar company, make sure you look it over completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Installation Process: When making the switch to solar, it's essential to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process will go and the project completion timeline.
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
The Green Panel
- 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 Port Reading, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Port Reading?
The average cost of solar panels in Port Reading is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Port Reading?
Solar panels aren't free in Port Reading, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Does Port Reading have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs 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.
