Solar Panel Cost Guide in Tinton Falls, NJ (Aug 2022)

  • Tinton Falls Solar Installation Cost: $9,265
  • 25-Year Savings: $6,919
  • Payback Period: 14.3 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 7/19/2022

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Average Cost of Solar Panels in Tinton Falls

Find out how much it might cost to make the switch to solar in Tinton Falls.

In Tinton Falls, solar panels cost about $3 per watt on average. The average Tinton Falls homeowner needs a 4.5-kilowatt system, which would cost about $9,265, or $6,856 after the federal solar tax credit is applied.

The true cost of your system can go higher or lower than the average in Tinton Falls depending on a variety of factors, such as the kind of solar panels you choose and the solar contractor you hire. With average savings of about $14,000 on utility bills over 20 years, many homeowners in Tinton Falls find going solar has a decent ROI.

For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Tinton Falls

Year Return on Investment
1 years $-8,618
3 years $-7,323
5 years $-6,028
7 years $-4,734
9 years $-3,439
11 years $-2,144
13 years $-850
15 years $445
17 years $1,740
19 years $3,035
21 years $4,329
23 years $5,624
25 years $6,919

Top Solar Installers in Tinton Falls

Installing solar panels on your own can be a dangerous task, which is why hiring a solar installation company is a good option for many homeowners. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and component replacements.

Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Tinton Falls

Factors that Affect Solar Panel Costs in Tinton Falls

For many Tinton Falls homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Tinton Falls, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you'll pay, which we'll go over below.

Solar Equipment Size

The size of the solar energy system you need for your home is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,770. The type of solar panels and equipment you get is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about 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

If paying for a solar system out of pocket is difficult, solar loans are a popular option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When estimating your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.

Solar Panel Installation Company

Lastly, the company you choose to install your solar panels can impact the cost. Tinton Falls's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically 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 additional services like electric vehicle 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 $2.88 $12,791 $8,690 14.9 years
8 kW $2.83 $16,726 $11,915 14.6 years
10 kW $2.77 $20,498 $15,304 14.3 years
12 kW $2.71 $24,106 $18,857 14.0 years
14 kW $2.66 $27,549 $22,573 13.7 years
16 kW $2.60 $30,829 $26,454 13.5 years
18 kW $2.55 $33,945 $30,499 13.2 years
20 kW $2.49 $36,896 $34,707 12.9 years

Solar Incentives in Tinton Falls

Name NJ Clean Energy- Residential New Construction Program
Incentive Amount Incentives depend on the HERS score and the classification
Single family homes: Ranges from $1,125 to - 24,250
Multi-single homes: Ranges from $1,125 to $18,188
Multifamily homes: Ranges from $625-$12,125
Incentive Max Multifamily: up to $12,125
Individual homes: up to $24,250
Website Visit here
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
Incentive Amount 100% of value added by renewable system
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Incentive Amount Determined by the market.
In June 2016, SREC traded at an average price of $229.90.
Incentive Max Maximum price set by the SACP for the particular year.
Website Visit here
More Info Click here

Name Successor Solar Incentive (SuSI) Program
Incentive Amount Net-Metered Residential: $90/SREC-II

Small Net-Metered Non-Residential located on Rooftop, Carport, Canopy and Floating Solar
Projects smaller than 1 MW (dc): $100/SREC-II, $120 for public entities
Projects 1 MW to 5 MW (dc): $90/SREC-II, $110 for public entities

Net Metered Non-Residential Ground Mount
Projects smaller than 1 MW (dc): $85/SREC-II, $105 for public entities
Projects 1 MW to 5 MW (dc): $80/SREC-II, $100 for public entities

Community Solar LMI: $90/SREC-II
Community Solar Non-LMI: $70/SREC-II
Incentive Max MW-DC Capacity Blocks
Net Metered Residential: 150 MW
Net Metered Non-Residential: 150 MW
Community Solar (LMI and Non-LMI): 150 MW
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
Incentive Max None
More Info Click here

How to Save on Solar Panels

Since the model of solar panels and the installer you choose significantly influence your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:

  • Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
  • Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
  • Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Contract: Before you sign a contract with a solar company, be sure to look it over carefully 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 part breaks or malfunctions and what services you can expect from them.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Tinton Falls, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Tinton Falls?

The average cost of solar panels in Tinton Falls 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 certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.

Is it better to lease or buy solar panels in Tinton Falls?

Leasing solar panels can be an option if you can't 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 home 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 financial benefits from going solar.

Do solar panels increase how much your home is worth?

Solar panels can increase your home value significantly 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 solar panels."

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy consumption 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 get between 20 and 35 panels to cover 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.

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