Solar Panel Cost Guide in Shark River Hills, NJ (Sep 2022)

  • Shark River Hills Solar Installation Cost: $8,764
  • 25-Year Savings: $7,419
  • Payback Period: 13.5 Years

See cost of a solar system near you:

GET QUOTES
EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Shark River Hills

Find out what the average cost of solar panels are in Shark River Hills.

The national average cost of solar panels is $2.66 per watt, but in Shark River Hills it's $3 per watt. Since a 4.5-kW system is needed to cover the energy costs of a typical home in Shark River Hills, the average price of going solar will be about $8,764 before claiming the federal solar tax credit of 30%.

Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of solar system you want, your solar contractor and more. With average savings of about $14,000 on power bills over 20 years, many homeowners in Shark River Hills find investing in solar can be quite rewarding.

To see your potential savings and connect with a local solar expert, click the button below.

Solar savings over time in Shark River Hills

Year Return on Investment
1 years $-8,117
3 years $-6,822
5 years $-5,528
7 years $-4,233
9 years $-2,938
11 years $-1,643
13 years $-349
15 years $946
17 years $2,241
19 years $3,535
21 years $4,830
23 years $6,125
25 years $7,419

Top Solar Installers in Shark River Hills

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Going with a solar panel installer can make your swap to solar power much easier. A solar company can also help save you money over time by providing warranties, repairs and part replacements.

You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:

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 Shark River Hills

Factors that Affect Solar Panel Costs in Shark River Hills

Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Shark River Hills: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.

Solar Equipment Size

One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $2,770 per kilowatt in Shark River Hills. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are available from most installers in Shark River Hills, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible. When considering your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.

Solar Panel Installation Company

The remaining significant cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Shark River Hills, you'll have many options to choose from, but each comes at different price points for labor and equipment. Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to 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 $12,099 $9,382 14.1 years
8 kW $2.83 $15,822 $12,819 13.8 years
10 kW $2.77 $19,390 $16,412 13.5 years
12 kW $2.71 $22,803 $20,160 13.3 years
14 kW $2.66 $26,060 $24,062 13.0 years
16 kW $2.60 $29,163 $28,120 12.7 years
18 kW $2.55 $32,110 $32,333 12.5 years
20 kW $2.49 $34,902 $36,702 12.2 years

Solar Incentives in Shark River Hills

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 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 a large number of companies available in Shark River Hills, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:

  • Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
  • Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Solar Panel Brands: The kind of solar panel you want plays a role in which company you should opt for, since different companies provide different panels.
  • Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.

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 Shark River Hills, NJ Solar Cost FAQs

How much does it cost to install solar panels in Shark River Hills?

The average cost of solar panels in Shark River Hills is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.

What other factors should I consider aside from cost when buying solar panels?

Cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.

Do solar panels increase your property value?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Shark River Hills is currently $355,536, which means you could be looking at a value of about $14,577 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Shark River Hills is a fruitful investment.

How often do you have to replace solar panels?

Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use them at a lower efficiency.

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.

solar panel and sunny sky
Invest in clean solar energy, save thousands of dollars.

Save $$ on your electricity bill by getting a free quote today.

Follow us