Solar Panel Cost Guide in Shamong, NJ (Sep 2022)

  • Shamong Solar Installation Cost: $8,939
  • 25-Year Savings: $9,993
  • Payback Period: 11.8 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 Shamong

Find out how much it might cost to switch to solar power in Shamong.

The national average cost of solar panels is $2.66 per watt, but in Shamong it's $3 per watt. The average Shamong homeowner needs a 4.6-kilowatt system, which would cost about $8,939, or $6,615 after the federal solar tax credit of 30% is applied.

The true price you pay can go above or below the average in Shamong depending on a few factors, such as the type of solar panels you choose and the solar company you hire. But, after you've paid the initial cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $16,000 over 20 years on utility bills.

For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Shamong

Year Return on Investment
1 years $-8,182
3 years $-6,667
5 years $-5,152
7 years $-3,638
9 years $-2,123
11 years $-609
13 years $906
15 years $2,420
17 years $3,935
19 years $5,449
21 years $6,964
23 years $8,478
25 years $9,993

Top Solar Installers in Shamong

Many homeowners decide to use a solar panel company since figuring out how to install solar panels on your own can be a labor-intensive endeavor. Plus, if you're not certain what kind of solar panels and equipment you need, a solar expert can help you figure that out after a site survey and consultation.

If you're searching for a solar installer in Shamong, the EcoWatch team has put together a list of our top suggestions here:

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 Shamong

Factors that Affect Solar Panel Costs in Shamong

For many Shamong homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Shamong, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.

Solar Equipment Size

The size of the solar panel system you need to offset your energy usage 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. The model of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Further, solar equipment is more than just the solar panels themselves. You'll also need to decide on 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 offered by most installers in Shamong, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also adds to your total costs, so it's crucial to take that into consideration as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.

Solar Panel Installation Company

The last significant cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Shamong, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 $12,099 $12,545 12.3 years
8 kW $2.83 $15,822 $17,036 12.0 years
10 kW $2.77 $19,390 $21,683 11.8 years
12 kW $2.71 $22,803 $26,485 11.6 years
14 kW $2.66 $26,060 $31,442 11.3 years
16 kW $2.60 $29,163 $36,555 11.1 years
18 kW $2.55 $32,110 $41,822 10.9 years
20 kW $2.49 $34,902 $47,245 10.6 years

Solar Incentives in Shamong

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 a lot of companies to choose from in Shamong, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:

  • Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and what the project timeline is.
  • Warranty: If you care about the durability of your solar system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Contract: When reading over your solar company's contract, ask questions 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.
  • Solar Panel Brands: Different companies will have different brands and types of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.

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 Shamong, NJ Solar Cost FAQs

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

This is a difficult question to answer precisely, 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 higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.

Can you get solar panels for free in Shamong?

You can't get solar panels for free in Shamong. However, you may still be able to afford 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 Shamong have a net metering program?

Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future utility 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 how many solar panels you need, you should find out 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 house 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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