Solar Panel Cost Guide in South Toms River, NJ (2024 Update)

  • South Toms River Solar Installation Cost: $10,964
  • 25-Year Savings: $7,580
  • Payback Period: 16.9 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in South Toms River

Find out what the average cost of installing solar panels is in South Toms River.

In South Toms River, solar panels cost about 4 per watt on average.Using this figure, a typical 4.4-kW system would cost about $10,964 before the 0 federal solar tax credit is applied.

The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of going solar can vary quite a bit depending on a few factors, such as what size system you need, your energy usage and what company you go with.Many homeowners find going solar is a sound investment. The average homeowner in South Toms River can save around $14,000 on their electricity bills over 20 years.

To receive a free estimate from a highly rated solar installer in South Toms River, you can click the button below.

Solar savings over time in South Toms River

Year Return on Investment
1 years $-9,905
3 years $-7,787
5 years $-5,668
7 years $-3,550
9 years $-1,432
11 years $687
13 years $2,805
15 years $4,923
17 years $7,042
19 years $9,160
21 years $11,279
23 years $13,397
25 years $15,515

Top Solar Installers in South Toms River

DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Taking advantage of a solar panel installer can make your switch to solar power much easier. Some solar companies, especially local ones, can help you make the most of incentives in South Toms River, therefore optimizing your ROI.

Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:

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 for Leasing

Sunrun

★★★★★
4.0

  • 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 South Toms River

Factors that Affect Solar Panel Costs in South Toms River

There are several criteria that can determine your 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 panel system in South Toms River, one of the most crucial 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 consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by around $3,530 for each additional kilowatt you need.The type of solar panels and equipment you get is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment consists of more than just the solar panels themselves. You’ll also need to consider 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

Most solar companies in South Toms River offer solar loans, which reduce the initial cost of installing a solar system.When estimating your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.

Solar Panel Installation Company

The solar company you choose will impact your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in South Toms River have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 $3.67 $15,419 $6,464 17.6 years
8 kW $3.60 $20,163 $9,014 17.3 years
10 kW $3.53 $24,710 $11,762 16.9 years
12 kW $3.46 $29,059 $14,708 16.6 years
14 kW $3.39 $33,210 $17,851 16.3 years
16 kW $3.32 $37,164 $21,192 15.9 years
18 kW $3.25 $40,920 $24,730 15.6 years
20 kW $3.18 $44,478 $28,466 15.2 years

How to Save on Solar Panels

There are numerous companies available in South Toms River, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:

  • Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can look into your installer’s reputation is by reading reviews.
  • Contract: Although reading through a contract can take a lot of time, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
  • Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.

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 for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's South Toms River, NJ Solar Cost FAQs

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

The average cost of solar panels in South Toms River 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 such as the model of solar panels you want, what size system you need and how much energy you use.

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 install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.

How much can I save on energy bills after installing solar panels?

Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $729.44 per year.

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

The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a 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 get 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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