Solar Panel Cost Guide in Shrewsbury, NJ (2025 Update)
- Shrewsbury Solar Installation Cost: $11,170
- 25-Year Savings: $7,419
- Payback Period: 17.3 Years
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Average Cost of Solar Panels in Shrewsbury
Here’s how much it might cost to make the switch to solar in Shrewsbury.
The national average cost of solar panels is $2.66 per watt, but in Shrewsbury it’s 4 per watt.To account for the typical energy usage of the average home in Shrewsbury, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs about $11,170, or $15,973 before the federal solar tax credit of 0 is applied.
How much you pay can be above or below the average in Shrewsbury based on several factors, such as the type of solar panels you choose and the solar contractor you hire.But, once you've paid the initial cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $14,000 over 20 years on power bills.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Shrewsbury
| Year | Return on Investment |
|---|---|
| 1 years | $-10,111 |
| 3 years | $-7,992 |
| 5 years | $-5,874 |
| 7 years | $-3,755 |
| 9 years | $-1,637 |
| 11 years | $481 |
| 13 years | $2,600 |
| 15 years | $4,718 |
| 17 years | $6,837 |
| 19 years | $8,955 |
| 21 years | $11,073 |
| 23 years | $13,192 |
| 25 years | $15,310 |
Top Solar Installers in Shrewsbury
When making the switch to solar, many homeowners decide to go with a solar company since putting up solar panels yourself can be a time-consuming project. Solar installers offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some in Shrewsbury:
See all of the solar companies in Shrewsbury
Factors that Affect Solar Panel Costs in Shrewsbury
For many Shrewsbury homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Shrewsbury, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,530.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. In addition, add-on products, like solar batteries, can bring your total well above the Shrewsbury average.
Solar Financing Terms
Many homeowners find the average cost of solar in Shrewsbury to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in paying more over time because of interest.Though solar loans make switching to solar energy more accessible for Shrewsbury homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can play a part in determining how much you pay. Shrewsbury’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that has the products, warranties and services you’re looking for and also is within your budget.
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 | $6,062 | 17.9 years |
| 8 kW | $3.60 | $20,163 | $8,478 | 17.6 years |
| 10 kW | $3.53 | $24,710 | $11,092 | 17.3 years |
| 12 kW | $3.46 | $29,059 | $13,903 | 16.9 years |
| 14 kW | $3.39 | $33,210 | $16,912 | 16.6 years |
| 16 kW | $3.32 | $37,164 | $20,119 | 16.2 years |
| 18 kW | $3.25 | $40,920 | $23,524 | 15.9 years |
| 20 kW | $3.18 | $44,478 | $27,126 | 15.5 years |
How to Save on Solar Panels
The solar installer you opt for will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, including:
- Contract: Though reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
EcoWatch's Shrewsbury, NJ Solar Cost FAQs
How much does it cost to install solar panels in Shrewsbury?
The average cost of solar panels in Shrewsbury is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Shrewsbury?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Does Shrewsbury have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future energy bills.
How long do solar panels last in Shrewsbury?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using 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.