Solar Panel Cost Guide in Tewksbury, NJ (Mar 2023)
- Tewksbury Solar Installation Cost: $9,230
- 25-Year Savings: $6,954
- Payback Period: 14.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Tewksbury
We go over average solar pricing in Tewksbury.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Tewksbury, the average cost of solar panels is 2.77 per watt. To account for the typical energy needs of the average home in Tewksbury, most homeowners require a 4.8-kilowatt system. Using the figure above, a solar installation costs around $9,230, or $13,199 before the federal solar tax credit of 30% is applied.
These figures are only averages, and how much solar costs for you will look different based on your specific situation and what company you go with. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Tewksbury can save about $13,000 on their energy bills over 20 years.
Click the button below to get connected to a reputable solar company in your area for a customized estimate.
Solar savings over time in Tewksbury
| Year | Return on Investment |
|---|---|
| 1 years | $-8,582 |
| 3 years | $-7,288 |
| 5 years | $-5,993 |
| 7 years | $-4,698 |
| 9 years | $-3,403 |
| 11 years | $-2,109 |
| 13 years | $-814 |
| 15 years | $481 |
| 17 years | $1,775 |
| 19 years | $3,070 |
| 21 years | $4,365 |
| 23 years | $5,659 |
| 25 years | $6,954 |
Top Solar Installers in Tewksbury
Installing solar panels by yourself can be a time-consuming project, which is why getting a solar installation company is a good option for many homeowners. The expertise that solar companies offer can be invaluable as well, especially if you don't quite know what kind of solar equipment would be right for your home.
If you're on the hunt for a solar company in Tewksbury, we've put together a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Tewksbury
Factors that Affect Solar Panel Costs in Tewksbury
The cost of installing a solar system in Tewksbury can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The type of solar equipment you choose can increase or decrease your cost 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, higher efficiency could save you more over time on your power bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Tewksbury 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 Tewksbury homeowners opt to finance their solar panel systems to make going solar more affordable. When estimating your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installation company you pick will play a role in your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Tewksbury have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $2.88 | $12,099 | $8,319 | 14.8 years |
| 8 kW | $2.83 | $15,822 | $11,402 | 14.5 years |
| 10 kW | $2.77 | $19,390 | $14,640 | 14.2 years |
| 12 kW | $2.71 | $22,803 | $18,034 | 14.0 years |
| 14 kW | $2.66 | $26,060 | $21,582 | 13.7 years |
| 16 kW | $2.60 | $29,163 | $25,286 | 13.4 years |
| 18 kW | $2.55 | $32,110 | $29,145 | 13.1 years |
| 20 kW | $2.49 | $34,902 | $33,159 | 12.8 years |
How to Save on Solar Panels
There are a large number of companies available in Tewksbury, 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:
- Contract: Before you sign a contract with a solar installer, make sure you look it over completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Tewksbury, NJ Solar Cost FAQs
How much does it cost to install solar panels in Tewksbury?
This is a difficult question to answer precisely, because the cost depends on many 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. It will be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Tewksbury?
You can't get solar panels for free in Tewksbury. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Do solar panels increase your property value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in Tewksbury?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.