Solar Panel Cost Guide in South Amboy, NJ (Aug 2022)

  • South Amboy Solar Installation Cost: $9,593
  • 25-Year Savings: $6,591
  • Payback Period: 14.8 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 7/19/2022

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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.

The national average cost of solar panels is $2.66 per watt, but in South Amboy it's $3 per watt. The average South Amboy homeowner needs a 4.7-kilowatt system, which would cost about $9,593, or $7,099 after the federal solar tax credit is applied.

Keep in mind that the figures above are only estimates based on the average energy use of South Amboy homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in South Amboy see about $13,000 in savings on utility bills over 20 years.

Click the button below to get connected to a reputable solar company in South Amboy for a personalized estimate.

Solar savings over time in South Amboy

Year Return on Investment
1 years $-8,946
3 years $-7,651
5 years $-6,356
7 years $-5,062
9 years $-3,767
11 years $-2,472
13 years $-1,178
15 years $117
17 years $1,412
19 years $2,707
21 years $4,001
23 years $5,296
25 years $6,591

Top Solar Installers in South Amboy

Many homeowners choose to use a solar panel company since figuring out how to install solar panels on your own can be time-consuming. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and component replacements.

If you'd like to start using solar energy but still aren't sure which solar installer to go with, here are our suggestions for providers in South Amboy:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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

For many South Amboy homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in South Amboy, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.

Solar Equipment Size

The size of the solar system you need for your home is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,770. There are a lot of different solar panel brands and the one you pick also changes the cost. Typically, the brands that are more efficient tend to also cost more. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are offered by most installers in South Amboy, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.

Solar Panel Installation Company

A final factor to consider when trying to figure out the cost of solar for your home or business in South Amboy is the company you choose to install your PV system. As with choosing a company to install new cabinets, for instance, you'll have many options for solar installers that provide a range of services at different costs. Additionally, some companies in South Amboy know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.

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 $12,791 $7,958 15.4 years
8 kW $2.83 $16,726 $10,938 15.1 years
10 kW $2.77 $20,498 $14,083 14.8 years
12 kW $2.71 $24,106 $17,391 14.5 years
14 kW $2.66 $27,549 $20,864 14.2 years
16 kW $2.60 $30,829 $24,500 13.9 years
18 kW $2.55 $33,945 $28,300 13.6 years
20 kW $2.49 $36,896 $32,265 13.3 years

Solar Incentives in South Amboy

Name NJ Clean Energy- Residential New Construction Program
Incentive Amount Incentives depend on the HERS score and the classification
Single family homes: Ranges from $1,125 to - 24,250
Multi-single homes: Ranges from $1,125 to $18,188
Multifamily homes: Ranges from $625-$12,125
Incentive Max Multifamily: up to $12,125
Individual homes: up to $24,250
Website Visit here
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
Incentive Amount 100% of value added by renewable system
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Incentive Amount Determined by the market.
In June 2016, SREC traded at an average price of $229.90.
Incentive Max Maximum price set by the SACP for the particular year.
Website Visit here
More Info Click here

Name Successor Solar Incentive (SuSI) Program
Incentive Amount Net-Metered Residential: $90/SREC-II

Small Net-Metered Non-Residential located on Rooftop, Carport, Canopy and Floating Solar
Projects smaller than 1 MW (dc): $100/SREC-II, $120 for public entities
Projects 1 MW to 5 MW (dc): $90/SREC-II, $110 for public entities

Net Metered Non-Residential Ground Mount
Projects smaller than 1 MW (dc): $85/SREC-II, $105 for public entities
Projects 1 MW to 5 MW (dc): $80/SREC-II, $100 for public entities

Community Solar LMI: $90/SREC-II
Community Solar Non-LMI: $70/SREC-II
Incentive Max MW-DC Capacity Blocks
Net Metered Residential: 150 MW
Net Metered Non-Residential: 150 MW
Community Solar (LMI and Non-LMI): 150 MW
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
Incentive Max None
More Info Click here

How to Save on Solar Panels

The solar panel company you choose will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, such as:

  • Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely provide good-quality solar panel installation and expertise.
  • Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
  • Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
  • Contract: Look through the contract terms closely to make sure you understand the overall cost, project completion timeline incentives and warranties.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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?

This is a tough question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.

Is it better to lease or buy solar panels in South Amboy?

Leasing solar panels can be an appealing choice, because it usually 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.

How will installing solar panels impact the value of my home?

Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."

How many solar panels do I need to power my home?

The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.

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.

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