Solar Panel Cost Guide in Stratford, NJ (2024 Update)
- Stratford Solar Installation Cost: $11,511
- 25-Year Savings: $11,273
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in Stratford
Find out what the average cost of solar panel installation is in Stratford.
The average cost of solar panels in Stratford is 4 per watt.Since a 4.7-kW system is needed to cover the energy usage of a typical home in Stratford, the average price of going solar will be about $11,511 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of going solar can vary based on a few factors, such as what size system you need, your energy consumption and what company you go with.With typical savings of about $17,000 on utility bills over 20 years, many homeowners in Stratford find going solar can pay off big.
Click the button below to get connected to a reputable solar company in Stratford for a personalized quote.
Solar savings over time in Stratford
| Year | Return on Investment |
|---|---|
| 1 years | $-10,012 |
| 3 years | $-7,016 |
| 5 years | $-4,020 |
| 7 years | $-1,023 |
| 9 years | $1,973 |
| 11 years | $4,969 |
| 13 years | $7,966 |
| 15 years | $10,962 |
| 17 years | $13,959 |
| 19 years | $16,955 |
| 21 years | $19,951 |
| 23 years | $22,948 |
| 25 years | $25,944 |
Top Solar Installers in Stratford
When going solar, many homeowners prefer to hire a solar installation company since putting up a solar system yourself can be a challenging project. Because solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- 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 Stratford
Factors that Affect Solar Panel Costs in Stratford
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that determine your overall cost in Stratford: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,530. The type 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, more efficient panels could save you more over time on your energy bills. In addition, extra products, like solar batteries, can bring your total well above the Stratford average.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Stratford homeowners choose to finance their solar panel systems to offset upfront costs.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The remaining key cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Stratford, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $10,735 | 14.7 years |
| 8 kW | $3.60 | $20,163 | $14,709 | 14.5 years |
| 10 kW | $3.53 | $24,710 | $18,880 | 14.2 years |
| 12 kW | $3.46 | $29,059 | $23,249 | 13.9 years |
| 14 kW | $3.39 | $33,210 | $27,816 | 13.6 years |
| 16 kW | $3.32 | $37,164 | $32,580 | 13.3 years |
| 18 kW | $3.25 | $40,920 | $37,542 | 13.0 years |
| 20 kW | $3.18 | $44,478 | $42,702 | 12.8 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose significantly impacts your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: The type of solar panel you’d like plays a role in which company you should opt for, since different companies have different panels.
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar installer. See to it that you understand how the installation process will go and the project completion timeline.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Contract: It’s important to read through your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Stratford, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Stratford?
The average cost of solar panels in Stratford is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Stratford have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future utility bills.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.