Solar Panel Cost Guide in Tabernacle, NJ (2023 Update)
- Tabernacle Solar Installation Cost: $8,937
- 25-Year Savings: $10,211
- Payback Period: 11.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Tabernacle
Find out what the average cost of installing solar panels is in Tabernacle.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Tabernacle, the average cost of a solar system is 2.77 per watt. Since a 4.6-kW system is needed to cover the energy consumption of a typical home in Tabernacle, the average price of going solar will be about $8,939 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average Tabernacle homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Even with the high initial cost, the average Tabernacle homeowner can save around $16,000 on their electricity bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a pre-vetted solar company in Tabernacle that can help you get a more accurate cost estimate for your home.
Solar savings over time in Tabernacle
| Year | Return on Investment |
|---|---|
| 1 years | $-8,873 |
| 3 years | $-8,746 |
| 5 years | $-8,618 |
| 7 years | $-8,490 |
| 9 years | $-8,363 |
| 11 years | $-8,235 |
| 13 years | $-8,107 |
| 15 years | $-7,980 |
| 17 years | $-7,852 |
| 19 years | $-7,724 |
| 21 years | $-7,597 |
| 23 years | $-7,469 |
| 25 years | $-7,342 |
Top Solar Installers in Tabernacle
Installing solar panels by yourself can be a time-consuming undertaking, which is why getting a solar installation company is a good option for many homeowners. The expertise that solar installers provide can be helpful as well, especially if you aren't sure what type of solar equipment would be right for your home.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
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 Tabernacle
Factors that Affect Solar Panel Costs in Tabernacle
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Tabernacle: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,770. There are many different solar panel brands and the one you choose also affects the cost. Usually, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Tabernacle provide solar loans, which reduce your upfront costs of installing a solar system. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Tabernacle, you'll have many options to choose from, but each comes at various price points for labor and equipment. The company's size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater resources and bulk 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 promotion 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 | $12,826 | 12.1 years |
| 8 kW | $2.83 | $15,822 | $17,412 | 11.9 years |
| 10 kW | $2.77 | $19,390 | $22,152 | 11.7 years |
| 12 kW | $2.71 | $22,803 | $27,048 | 11.4 years |
| 14 kW | $2.66 | $26,060 | $32,099 | 11.2 years |
| 16 kW | $2.60 | $29,163 | $37,305 | 11.0 years |
| 18 kW | $2.55 | $32,110 | $42,666 | 10.7 years |
| 20 kW | $2.49 | $34,902 | $48,183 | 10.5 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose considerably affects your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
- Installation Process: When making the switch to solar energy, it's crucial to keep an open line of communication with your solar company. See to it that you understand how the installation process will go and the project completion timeline.
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
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 Tabernacle, NJ Solar Cost FAQs
How much does it cost to install solar panels in Tabernacle?
This is a difficult question to answer precisely, because the cost depends on a few different 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. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Tabernacle?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
How will installing solar panels impact the value of my home?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.