Solar Panel Cost Guide in Somers Point, NJ (2025 Update)
- Somers Point Solar Installation Cost: $11,064
- 25-Year Savings: $14,078
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in Somers Point
Let’s have a look at the average cost of solar in Somers Point.
The average cost of a solar panel system in Somers Point is 4 per watt.To cover the typical energy usage of the average home in Somers Point, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs around $11,064, or $15,822 before the federal solar tax credit of 0 is applied.
The true cost of your system can go higher or lower than the average in Somers Point based on a few factors, such as the brand of solar panels you choose and the solar company you hire.Even with the significant initial cost, the average Somers Point homeowner can save around $19,000 on their electricity bills over 20 years, which is one of the positives of solar.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Somers Point
Year | Return on Investment |
---|---|
1 years | $-9,566 |
3 years | $-6,570 |
5 years | $-3,574 |
7 years | $-577 |
9 years | $2,419 |
11 years | $5,416 |
13 years | $8,412 |
15 years | $11,408 |
17 years | $14,405 |
19 years | $17,401 |
21 years | $20,397 |
23 years | $23,394 |
25 years | $26,390 |
Top Solar Installers in Somers Point
When switching to solar energy, many homeowners prefer to hire a solar company since handling can be a challenging project. The expertise that solar installers provide can be helpful as well, especially if you aren’t sure what type of solar equipment would be right for your home.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Somers Point
Factors that Affect Solar Panel Costs in Somers Point
There are several criteria that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy 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 spend about $3,530 per kilowatt in Somers Point.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Somers Point offer solar loans, which reduce the initial cost of installing solar.When considering your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating in Somers Point, and each can charge varying amounts for labor and equipment.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions 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 | $3.67 | $15,419 | $15,079 | 12.6 years |
8 kW | $3.60 | $20,163 | $20,501 | 12.4 years |
10 kW | $3.53 | $24,710 | $26,121 | 12.2 years |
12 kW | $3.46 | $29,059 | $31,938 | 11.9 years |
14 kW | $3.39 | $33,210 | $37,953 | 11.7 years |
16 kW | $3.32 | $37,164 | $44,165 | 11.4 years |
18 kW | $3.25 | $40,920 | $50,575 | 11.2 years |
20 kW | $3.18 | $44,478 | $57,183 | 10.9 years |
How to Save on Solar Panels
There are a lot of companies available in Somers Point, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Different companies will carry different brands and models of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Before signing a contract with a solar installer, make sure to look it over completely so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
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 Somers Point, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Somers Point?
The average cost of solar panels in Somers Point 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 type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Somers Point?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The drawback 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 get the most savings.
Does Somers Point have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
How long do solar panels last in Somers Point?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.