Solar Panel Cost Guide in Runnemede, NJ (Oct 2022)

  • Runnemede Solar Installation Cost: $9,036
  • 25-Year Savings: $8,815
  • Payback Period: 12.7 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Runnemede

See how much it might cost to switch to solar power in Runnemede.

The national average cost of solar panels is $2.66 per watt, but in Runnemede it's $3 per watt. The average solar panel system size in Runnemede is around 4.7 kilowatts, meaning a cost of about $9,036 for a solar installation, or $6,687 after the 30% federal solar tax credit is applied.

The true price you pay can go higher or lower than the average in Runnemede based on a variety of factors, such as the type of solar panels you choose and the solar contractor you hire. With typical savings of about $15,000 on energy bills over 20 years, many homeowners in Runnemede find investing in solar has a decent ROI.

You can click the button below to get connected with a pre-vetted solar installer in Runnemede for a quote for your home.

Solar savings over time in Runnemede

Year Return on Investment
1 years $-8,322
3 years $-6,894
5 years $-5,466
7 years $-4,038
9 years $-2,610
11 years $-1,182
13 years $247
15 years $1,675
17 years $3,103
19 years $4,531
21 years $5,959
23 years $7,387
25 years $8,815

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:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 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.

Solar Equipment Size

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

Solar Incentives in Runnemede

Name Successor Solar Incentive (SuSI) Program
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Website Visit here
More Info Click here

Name PSE&G - Solar Loan Program
Website Visit here
More Info Click here

Name NJ Clean Energy- Residential New Construction Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name COOLAdvantage Program
Website Visit here
More Info Click here

Name NJ Clean Energy- WARMAdvantage Program (Electric and Gas)
Website Visit here
More Info Click here

Name New Jersey Renewable Energy Incentive Program (Sustainable Biopower)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

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.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Runnemede, NJ Solar Cost FAQs

How much does it cost to install solar panels in Runnemede?

The average cost of solar panels in Runnemede 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 things such as the model of solar panels you want, what size system you need and how much energy you consume.

Are solar panels free in Runnemede?

You can't get solar panels for free in Runnemede. However, you may still be able to install 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.

Does Runnemede have a net metering program?

The majority of states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

What solar power system size is right for my home?

To figure out what solar panel system size you need, you should find out how much energy your home requires 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.

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