Solar Panel Cost Guide in Spotswood, NJ (Oct 2022)

  • Spotswood Solar Installation Cost: $9,075
  • 25-Year Savings: $7,942
  • 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 Spotswood

Here's how much it might cost to go solar in Spotswood.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Spotswood, the typical cost of a solar system is $3 per watt. To account for the typical energy needs of the average home in Spotswood, most homeowners require a 4.7-kilowatt system. Using the figure above, a solar installation costs around $9,075, or $6,716 after the federal solar tax credit of 30% is applied.

The true cost of your system can be higher or lower than the average in Spotswood depending on several factors, such as the brand of solar panels you choose and the solar company you hire. With average savings of about $14,000 on electricity bills over 20 years, many homeowners in Spotswood find installing solar panels can be quite rewarding.

To calculate your potential ROI and connect with a local solar installer, click the button below.

Solar savings over time in Spotswood

Year Return on Investment
1 years $-8,394
3 years $-7,032
5 years $-5,671
7 years $-4,310
9 years $-2,948
11 years $-1,587
13 years $-226
15 years $1,136
17 years $2,497
19 years $3,858
21 years $5,220
23 years $6,581
25 years $7,942

Top Solar Installers in Spotswood

Many homeowners choose to hire a solar panel installer since trying to put up solar panels on your own can be hard. Plus, if you aren't sure what brand of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.

Working with a licensed solar company can make going solar easier. 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 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 Spotswood

Factors that Affect Solar Panel Costs in Spotswood

There are many criteria that can affect your total 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 Size

System size is one of the largest factors that affects the overall cost of going solar. That's why it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The 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. On the other hand, higher efficiency could save you more over time on your power bills. In addition, add-on products, like solar batteries, can bring your total well above the Spotswood average.

Solar Financing Terms

Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Spotswood homeowners opt to finance their solar panel systems to make paying for solar more affordable. Although solar loans make adopting solar energy more accessible for Spotswood homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

The solar company you opt for to handle your switch to solar energy can play a part in your total costs. There are about 3 solar installation companies in Spotswood, and each can charge different amounts for labor and equipment. The company's size sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and better 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 discount can bring their pricing down to compete with bigger companies.

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 $9,717 13.9 years
8 kW $2.83 $15,822 $13,267 13.6 years
10 kW $2.77 $19,390 $16,971 13.3 years
12 kW $2.71 $22,803 $20,831 13.1 years
14 kW $2.66 $26,060 $24,846 12.8 years
16 kW $2.60 $29,163 $29,015 12.5 years
18 kW $2.55 $32,110 $33,340 12.3 years
20 kW $2.49 $34,902 $37,821 12.0 years

Solar Incentives in Spotswood

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 PSE&G - Solar Loan 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:

  • Reputation: Companies that have been operating for many years 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 adequate aftercare and customer service, such as part repairs and replacements.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of options before making your decision.
  • Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
  • Warranty: If you care about the longevity of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.

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 Spotswood, NJ Solar Cost FAQs

How much does it cost to install solar panels in Spotswood?

The average cost of solar panels in Spotswood 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you use.

Are solar panels free in Spotswood?

A solar panel system isn't free in Spotswood, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Is it worth going solar in Spotswood?

Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.

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

The exact number of solar panels you need depends on your household energy consumption and how much 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 cover 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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