Solar Panel Cost Guide in Shamong, NJ (2024 Update)
- Shamong Solar Installation Cost: $11,389
- 25-Year Savings: $9,994
- Payback Period: 15.0 Years
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Average Cost of Solar Panels in Shamong
We break down average solar pricing in Shamong.
The average cost of a solar panel system in Shamong is 4 per watt.The average solar panel system size in Shamong is around 4.6 kilowatts, meaning a cost of about $11,389 for a solar installation, or $16,286 before the 0 federal solar tax credit is applied.
The true price you pay can go higher or lower than the average in Shamong based on a variety of factors, such as the type of solar panels you choose and the solar company you hire.But, after you've paid the upfront cost of installation, the savings for most homeowners is usually rewarding, with a net average savings of about $16,000 over 20 years on energy bills.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Shamong
| Year | Return on Investment |
|---|---|
| 1 years | $-9,891 |
| 3 years | $-6,895 |
| 5 years | $-3,898 |
| 7 years | $-902 |
| 9 years | $2,094 |
| 11 years | $5,091 |
| 13 years | $8,087 |
| 15 years | $11,083 |
| 17 years | $14,080 |
| 19 years | $17,076 |
| 21 years | $20,073 |
| 23 years | $23,069 |
| 25 years | $26,065 |
Top Solar Installers in Shamong
When going solar, many homeowners choose to hire a solar installation company since putting up solar panels yourself can be a time-consuming project. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best National Provider
SunPower
- 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
- 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 Shamong
Factors that Affect Solar Panel Costs in Shamong
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Shamong: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That’s why it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The kind of solar panels and equipment you want is another factor that will largely impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Further, solar equipment consists of more than 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 searching for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are provided by most installers in Shamong, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also increases your overall costs, so it’s important to take that into consideration as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Shamong is the company you choose to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that offer a range of services at different costs.The company’s size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have 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 down to compete with bigger names.
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 | $9,225 | 15.6 years |
| 8 kW | $3.60 | $20,163 | $12,695 | 15.3 years |
| 10 kW | $3.53 | $24,710 | $16,363 | 15.0 years |
| 12 kW | $3.46 | $29,059 | $20,229 | 14.7 years |
| 14 kW | $3.39 | $33,210 | $24,292 | 14.4 years |
| 16 kW | $3.32 | $37,164 | $28,553 | 14.1 years |
| 18 kW | $3.25 | $40,920 | $33,012 | 13.8 years |
| 20 kW | $3.18 | $44,478 | $37,669 | 13.5 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: If you care about the durability of your solar panels, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
Best National Provider
SunPower
- 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
- 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 Shamong, NJ Solar Cost FAQs
How much does it cost to install solar panels in Shamong?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally 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 more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Shamong?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Is going solar worth it?
Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.