Solar Panel Cost Guide in Turnersville, NJ (2023 Update)
- Turnersville Solar Installation Cost: $9,012
- 25-Year Savings: $11,293
- Payback Period: 11.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Turnersville
Find out what the average cost of installing solar panels is in Turnersville.
In Turnersville, solar panels cost about 2.77 per watt on average. The average solar panel system size in Turnersville is around 4.7 kilowatts, meaning a cost of about $9,016 for a solar installation, or $12,893 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of installing solar panels can vary quite a bit depending on a few factors, such as how many panels you need, your energy consumption and what solar installer you go with. But, after you've paid the initial cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $17,000 over 20 years on electricity bills.
To get a free estimate from a pre-vetted solar company in Turnersville, you can click the button below.
Solar savings over time in Turnersville
| Year | Return on Investment |
|---|---|
| 1 years | $-7,514 |
| 3 years | $-4,518 |
| 5 years | $-1,521 |
| 7 years | $1,475 |
| 9 years | $4,472 |
| 11 years | $7,468 |
| 13 years | $10,464 |
| 15 years | $13,461 |
| 17 years | $16,457 |
| 19 years | $19,453 |
| 21 years | $22,450 |
| 23 years | $25,446 |
| 25 years | $28,443 |
Top Solar Installers in Turnersville
Putting up solar panels on your own can be a stressful project, which is why getting a solar installer is a good option for many homeowners. Plus, if you're unsure what kind of solar panels and equipment you need, a solar expert can help you figure that out after a site survey and consultation.
Working with a vetted solar company can make going solar easier. 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 Turnersville
Factors that Affect Solar Panel Costs in Turnersville
Even though the average cost of a solar system in Turnersville is $9,016, your final cost may differ. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panels 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 with greater 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 several different solar panel brands and the one you pick also changes the cost. Typically, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you're looking to install 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
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Turnersville homeowners decide to finance their solar panel systems to offset upfront costs. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you can only 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 remarkably.
Solar Panel Installation Company
The solar installation company you choose will influence your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $12,099 | $14,113 | 11.5 years |
| 8 kW | $2.83 | $15,822 | $19,128 | 11.3 years |
| 10 kW | $2.77 | $19,390 | $24,298 | 11.1 years |
| 12 kW | $2.71 | $22,803 | $29,623 | 10.9 years |
| 14 kW | $2.66 | $26,060 | $35,103 | 10.7 years |
| 16 kW | $2.60 | $29,163 | $40,738 | 10.4 years |
| 18 kW | $2.55 | $32,110 | $46,528 | 10.2 years |
| 20 kW | $2.49 | $34,902 | $52,474 | 10.0 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Installation Process: When making the switch to solar energy, it's necessary to keep an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project completion timeline.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
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 Turnersville, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Turnersville?
This is a tough question to answer precisely, because the cost depends on a variety of 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 additional solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your property value?
Solar panels can increase your home value 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% with a solar installation."
How many solar panels do I need to power 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 take a 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.