Solar Panel Cost Guide in Somerdale, NJ (2023 Update)
- Somerdale Solar Installation Cost: $9,036
- 25-Year Savings: $11,270
- Payback Period: 11.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Somerdale
Let's have a look at the average cost of solar panels in Somerdale.
Although the national average of solar panels is $2.66 per watt, solar panels in Somerdale typically cost about 2.77. The average solar panel system size in Somerdale is around 4.7 kilowatts, meaning a cost of about $9,036 for a solar installation, or $12,921 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Somerdale homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. For many homeowners, the upfront cost of solar power is worth paying. On average Somerdale homeowners see about $17,000 in savings on electricity bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Somerdale
| Year | Return on Investment |
|---|---|
| 1 years | $-8,224 |
| 3 years | $-6,599 |
| 5 years | $-4,975 |
| 7 years | $-3,350 |
| 9 years | $-1,726 |
| 11 years | $-101 |
| 13 years | $1,523 |
| 15 years | $3,148 |
| 17 years | $4,772 |
| 19 years | $6,396 |
| 21 years | $8,021 |
| 23 years | $9,645 |
| 25 years | $11,270 |
Top Solar Installers in Somerdale
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Hiring a solar company can make switching to solar power much easier. The expertise that solar companies offer can be valuable as well, particularly if you don't quite know what type of solar equipment you need.
If you'd like to go solar but still aren't certain which solar system installer to go with, here are our suggestions for providers near you:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Somerdale
Factors that Affect Solar Panel Costs in Somerdale
There are several factors that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production use 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 $2,770. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Somerdale, 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
Many homeowners find the average cost of solar in Somerdale to be too steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. Although solar loans make switching to solar energy more accessible for Somerdale homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you opt for to handle your switch to solar energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Somerdale, and each can charge varying amounts for labor and equipment. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $14,055 | 11.6 years |
| 8 kW | $2.83 | $15,822 | $19,050 | 11.3 years |
| 10 kW | $2.77 | $19,390 | $24,200 | 11.1 years |
| 12 kW | $2.71 | $22,803 | $29,505 | 10.9 years |
| 14 kW | $2.66 | $26,060 | $34,966 | 10.7 years |
| 16 kW | $2.60 | $29,163 | $40,581 | 10.5 years |
| 18 kW | $2.55 | $32,110 | $46,352 | 10.2 years |
| 20 kW | $2.49 | $34,902 | $52,278 | 10.0 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Get detailed information 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.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer's reputation is by reading reviews.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of options before making your decision.
- Contract: Before signing a contract with a solar company, make sure you look it over carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Somerdale, NJ Solar Cost FAQs
How much does it cost to install solar panels in Somerdale?
The average cost of solar panels in Somerdale 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 model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
The upfront 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 cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Can solar panels completely eradicate my power bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Somerdale, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
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 uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household 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.