Solar Panel Cost Guide in South Amboy, NJ (2023 Update)
- South Amboy Solar Installation Cost: $9,074
- 25-Year Savings: $7,109
- Payback Period: 14.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in South Amboy
Let's have a look at the average cost of solar in South Amboy.
The average cost of solar panels in South Amboy is 2.77 per watt. Since a 4.7-kW system is needed to cover the energy needs of a typical home in South Amboy, the average price of going solar will be about $9,075 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of going solar can vary based on a few factors, such as how many panels you need, your energy usage and what installation company you go with. Even with the significant upfront cost, the average South Amboy homeowner can save around $13,000 on their energy bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a top solar installer in South Amboy for a quote for your home.
Solar savings over time in South Amboy
| Year | Return on Investment |
|---|---|
| 1 years | $-9,021 |
| 3 years | $-8,913 |
| 5 years | $-8,805 |
| 7 years | $-8,697 |
| 9 years | $-8,589 |
| 11 years | $-8,481 |
| 13 years | $-8,373 |
| 15 years | $-8,265 |
| 17 years | $-8,157 |
| 19 years | $-8,049 |
| 21 years | $-7,942 |
| 23 years | $-7,834 |
| 25 years | $-7,726 |
Top Solar Installers in South Amboy
Although it's possible to install solar panels by yourself, it requires extra labor and know-how. Because of that, almost all homeowners choose a solar panel installer. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 South Amboy
Factors that Affect Solar Panel Costs in South Amboy
There are several criteria that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
When it comes to estimating the price of a solar system in South Amboy, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can figure out by looking at past electricity bills. Your total cost can increase by around $2,770 for each additional kilowatt you need. The kind of solar panels and equipment you get is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment is more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are provided by most installers in South Amboy, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible. Even though solar loans make going solar more accessible for South Amboy homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can influence your pricing. South Amboy's solar companies all have different labor costs and add varying upcharges to equipment. The company's size sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $8,649 | 14.6 years |
| 8 kW | $2.83 | $15,822 | $11,842 | 14.3 years |
| 10 kW | $2.77 | $19,390 | $15,191 | 14.0 years |
| 12 kW | $2.71 | $22,803 | $18,694 | 13.7 years |
| 14 kW | $2.66 | $26,060 | $22,353 | 13.5 years |
| 16 kW | $2.60 | $29,163 | $26,166 | 13.2 years |
| 18 kW | $2.55 | $32,110 | $30,135 | 12.9 years |
| 20 kW | $2.49 | $34,902 | $34,259 | 12.6 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Contract: Even though reading through a contract can be tedious, it's important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
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 South Amboy, NJ Solar Cost FAQs
How much does it cost to install solar panels in South Amboy?
The average cost of solar panels in South Amboy 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 certain factors 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 apart from cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Does South Amboy have a net metering program?
Each state has some form 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 give you credit toward your future electricity bills.
How long do solar panels last in South Amboy?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.