Solar Panel Cost Guide in Stratford, NJ (2023 Update)
- Stratford Solar Installation Cost: $9,032
- 25-Year Savings: $11,273
- Payback Period: 11.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Stratford
Find out how much it might cost to make the switch to solar in Stratford.
Although the national average of solar panels is $2.66 per watt, solar panels in Stratford typically cost about 2.77. To account for the typical energy needs of the average home in Stratford, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,036, or $12,921 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of making the switch to solar can vary based on several factors, such as how many panels you need, your energy consumption and what company you go with. With typical savings of about $17,000 on power bills over 20 years, many homeowners in Stratford find investing in solar can pay off big.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Stratford
| Year | Return on Investment |
|---|---|
| 1 years | $-8,965 |
| 3 years | $-8,829 |
| 5 years | $-8,694 |
| 7 years | $-8,559 |
| 9 years | $-8,423 |
| 11 years | $-8,288 |
| 13 years | $-8,152 |
| 15 years | $-8,017 |
| 17 years | $-7,882 |
| 19 years | $-7,746 |
| 21 years | $-7,611 |
| 23 years | $-7,476 |
| 25 years | $-7,340 |
Top Solar Installers in Stratford
Although you can install solar panels on your own, it requires extra energy and know-how. That's one of the reasons almost all homeowners choose to hire a solar panel installer. A solar company can also help save you money over time by providing warranties, repairs and part replacements.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Stratford
Factors that Affect Solar Panel Costs in Stratford
For many Stratford homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Stratford, 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
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend around $2,770 per kilowatt in Stratford. The type of solar panels and equipment you choose is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, 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 looking for a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Stratford homeowners opt to finance their solar panel systems to make going solar more affordable. Although solar loans make adopting solar energy more accessible for Stratford homeowners, they can also add to 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
Finally, the company you get to install your solar panel system can affect your pricing. Stratford's solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $14,055 | 11.6 years |
| 8 kW | $2.83 | $15,822 | $19,050 | 11.3 years |
| 10 kW | $2.77 | $19,390 | $24,200 | 11.1 years |
| 12 kW | $2.71 | $22,803 | $29,505 | 10.9 years |
| 14 kW | $2.66 | $26,060 | $34,966 | 10.7 years |
| 16 kW | $2.60 | $29,163 | $40,581 | 10.5 years |
| 18 kW | $2.55 | $32,110 | $46,352 | 10.2 years |
| 20 kW | $2.49 | $34,902 | $52,278 | 10.0 years |
How to Save on Solar Panels
The solar installer you choose will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, including:
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- 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 likely has a good reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Stratford, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Stratford?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally 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 more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to consider 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.
Can you sell solar power back to the grid in Stratford?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to 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?
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.