Solar Panel Cost Guide in South Amboy, NJ (Mar 2023)
- South Amboy Solar Installation Cost: $9,075
- 25-Year Savings: $7,109
- Payback Period: 14.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in South Amboy
Find out what the average cost of installing solar panels is in South Amboy.
Although the national average of solar panels is $2.66 per watt, solar panels in South Amboy typically cost around 2.77. The average solar panel system size in South Amboy is around 4.7 kilowatts, meaning a cost of about $9,075 for a solar installation, or $12,977 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy needs, the type of solar panels you choose, your solar contractor and more. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $13,000 over 20 years on electricity bills.
Click the button below to get connected to a highly rated solar panel company in your area for a custom quote.
Solar savings over time in South Amboy
| Year | Return on Investment |
|---|---|
| 1 years | $-8,427 |
| 3 years | $-7,132 |
| 5 years | $-5,838 |
| 7 years | $-4,543 |
| 9 years | $-3,248 |
| 11 years | $-1,954 |
| 13 years | $-659 |
| 15 years | $636 |
| 17 years | $1,930 |
| 19 years | $3,225 |
| 21 years | $4,520 |
| 23 years | $5,815 |
| 25 years | $7,109 |
Top Solar Installers in South Amboy
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Going with a solar panel installer can make switching to solar power much easier. Companies can also have access to a large variety of the best solar panels and help you decide which one will be right for you.
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 South Amboy:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 South Amboy
Factors that Affect Solar Panel Costs in South Amboy
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that affect your total cost in South Amboy: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,770. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for 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 in the long run on your power bills. Additionally, extra products, such as solar batteries, can bring your total well above the South Amboy average.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many South Amboy homeowners opt to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar panel installation company you choose will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor. 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
Since the model of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
- Contract: When looking over your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 South Amboy, NJ Solar Cost FAQs
What is the average cost of installing 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 actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in South Amboy?
A solar panel system isn't free in South Amboy, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How will having solar panels impact my property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in South Amboy is currently $288,300, which means you can look forward to a value of about $11,820 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in South Amboy is a fruitful investment.
How often do you have to replace solar panels?
Even though 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 how much energy they produce will have decreased significantly after that point. You can choose 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.
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.