Solar Panel Cost Guide in Tewksbury, NJ (2023 Update)
- Tewksbury Solar Installation Cost: $9,221
- 25-Year Savings: $6,963
- Payback Period: 14.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Tewksbury
Here's how much it might cost to install solar panels in Tewksbury.
In Tewksbury, solar panels cost about 2.77 per watt on average. 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.
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 quite a bit depending on multiple factors, such as what size system you need, your energy usage and what company you go with. Many homeowners find installing solar panels is a solid investment. The average homeowner in Tewksbury can save around $13,000 on their electricity bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Tewksbury
| Year | Return on Investment |
|---|---|
| 1 years | $-8,162 |
| 3 years | $-6,044 |
| 5 years | $-3,925 |
| 7 years | $-1,807 |
| 9 years | $312 |
| 11 years | $2,430 |
| 13 years | $4,548 |
| 15 years | $6,667 |
| 17 years | $8,785 |
| 19 years | $10,904 |
| 21 years | $13,022 |
| 23 years | $15,140 |
| 25 years | $17,259 |
Top Solar Installers in Tewksbury
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Hiring an installer can make your switch to solar power much easier. The expertise that solar installers offer can be valuable as well, particularly if you aren't sure what brand of solar equipment you need.
There are various licensed solar professionals that can help you install your solar panels. 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
See all of the solar companies in Tewksbury
Factors that Affect Solar Panel Costs in Tewksbury
Though the average cost of a solar system in Tewksbury is $9,230, your final cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $2,770 per kilowatt in Tewksbury. There are a lot of different solar panel brands and the one you choose also affects the cost. In many cases, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid choice because they cut back your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also increases your all-in costs, so it's vital to consider that as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Tewksbury, and each can charge varying amounts for labor and equipment. The company's size sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater 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 lower 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 | $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
Since the kind of solar panels and the company you choose has an impact on 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 model of solar panel you need to get plays a role in which installer you should go with, since different companies offer different panels.
- Installation Process: Get detailed information 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: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
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 Tewksbury, NJ Solar Cost FAQs
How much does it cost to install solar panels in Tewksbury?
The average cost of solar panels in Tewksbury 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 things such as the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is it worth going solar in Tewksbury?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Tewksbury?
Although 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 decide to replace them after having them for that long or you can keep using 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.