Solar Panel Cost Guide in Runnemede, NJ (Feb 2023)
- Runnemede Solar Installation Cost: $9,036
- 25-Year Savings: $8,815
- Payback Period: 12.7 Years
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Top Solar Installers in Runnemede
Although it's possible to install solar panels on your own, it requires extra energy and handiness. For that reason, the majority of homeowners choose to go with a solar panel installer. Another benefit of working with a solar installer is that they can help you maximize your ROI by reducing your future costs of repairs and replacements with the help of warranties and informing you of local incentives you can take advantage of.
If you'd like to start using solar energy but still aren't certain which solar installer to go with, here are our recommendations for providers nearby:
See all of the solar companies in Runnemede
Factors that Affect Solar Panel Costs in Runnemede
There are a number of criteria that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
When it comes to estimating the cost of a solar system in Runnemede, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can determine by looking at past electricity bills. Your total cost can increase by around $2,770 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Runnemede, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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
If paying for solar panels out of pocket is out of reach, solar loans are a solid option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When figuring out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can influence how much you pay. Runnemede's solar companies all have different labor costs and add varying upcharges to equipment. 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 pricing due to access 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 promotion can bring their pricing lower 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||$10,892||13.2 years|
|8 kW||$2.83||$15,822||$14,833||12.9 years|
|10 kW||$2.77||$19,390||$18,929||12.7 years|
|12 kW||$2.71||$22,803||$23,181||12.4 years|
|14 kW||$2.66||$26,060||$27,587||12.1 years|
|16 kW||$2.60||$29,163||$32,148||11.9 years|
|18 kW||$2.55||$32,110||$36,865||11.6 years|
|20 kW||$2.49||$34,902||$41,737||11.4 years|
How to Save on Solar Panels
There are many companies to choose from in Runnemede, 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:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the best you can get in the business, and offering such a warranty is one mark of a quality company.
- Contract: When looking over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.
EcoWatch's Runnemede, NJ Solar Cost FAQs
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.