Solar Panel Cost Guide in South Toms River, NJ (Sep 2022)

  • South Toms River Solar Installation Cost: $8,609
  • 25-Year Savings: $7,575
  • Payback Period: 13.3 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in South Toms River

We go over average solar pricing in South Toms River.

The national average cost of solar panels is $2.66 per watt, but in South Toms River it's $3 per watt. The average South Toms River homeowner needs a 4.4-kilowatt system, which would cost about $8,609, or $6,371 after the federal solar tax credit of 30% is applied.

The true cost of your system can go above or below the average in South Toms River depending on a few factors, such as the type of solar panels you choose and the solar company you hire. Many homeowners find going solar is a rewarding investment. The average homeowner in South Toms River can save about $14,000 on their energy bills over 20 years.

To receive a free quote from a top solar installation company in South Toms River, you can click the button below.

Solar savings over time in South Toms River

Year Return on Investment
1 years $-7,962
3 years $-6,667
5 years $-5,372
7 years $-4,078
9 years $-2,783
11 years $-1,488
13 years $-194
15 years $1,101
17 years $2,396
19 years $3,690
21 years $4,985
23 years $6,280
25 years $7,575

Top Solar Installers in South Toms River

Many homeowners decide to hire a solar panel installer since installing solar panels by yourself can be a lot of work. Plus, if you aren't sure what kind of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.

There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:

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 Toms River

Factors that Affect Solar Panel Costs in South Toms River

Although the average cost of solar panels in South Toms River is $8,609, your actual cost may differ. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.

Solar Equipment Size

Size is one of the largest factors that influences the overall cost of going solar. That's why it's important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The type of solar panels and equipment you choose is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Further, solar equipment is more than just the solar panels themselves. You'll also need to make decisions 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 searching for a solar system that's in your budget.

Solar Financing Terms

Many homeowners find the average cost of solar in South Toms River to be too steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. When considering your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.

Solar Panel Installation Company

The solar company you go with to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies in South Toms River, and each can charge varying amounts for labor and equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and choose a company that provides the products, warranties and services you want and also fit into your budget.

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 $9,784 13.8 years
8 kW $2.83 $15,822 $13,355 13.6 years
10 kW $2.77 $19,390 $17,082 13.3 years
12 kW $2.71 $22,803 $20,964 13.0 years
14 kW $2.66 $26,060 $25,001 12.8 years
16 kW $2.60 $29,163 $29,193 12.5 years
18 kW $2.55 $32,110 $33,540 12.2 years
20 kW $2.49 $34,902 $38,042 12.0 years

Solar Incentives in South Toms River

Name Successor Solar Incentive (SuSI) Program
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Website Visit here
More Info Click here

Name NJ Clean Energy- Residential New Construction Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name COOLAdvantage Program
Website Visit here
More Info Click here

Name NJ Clean Energy- WARMAdvantage Program (Electric and Gas)
Website Visit here
More Info Click here

Name New Jersey Renewable Energy Incentive Program (Sustainable Biopower)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

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:

  • Solar Panel Brands: The type of solar panel you want plays a role in which installer you should opt for, since different companies have different panels.
  • Contract: It's important to read your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
  • Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
  • 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 get the job done well. Another way you can research your installer's reputation is by reading reviews.

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 Toms River, NJ Solar Cost FAQs

What is the average cost of installing solar panels in South Toms River?

This is a difficult question to answer precisely, 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.

Can you get solar panels for free in South Toms River?

You can't get solar panels for free in South Toms River. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.

Do solar panels increase your home value?

Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in South Toms River is currently $169,700, which means you could be looking at a value of about $6,958 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in South Toms River is a fruitful investment.

How many solar panels should I get to power my home?

To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.

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