Solar Panel Cost Guide in Twin Rivers, NJ (Aug 2022)

  • Twin Rivers Solar Installation Cost: $9,675
  • 25-Year Savings: $7,342
  • Payback Period: 14.2 Years

See cost of a solar system near you:

GET QUOTES
EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 7/19/2022

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Twin Rivers

See how much it might cost to switch to solar power in Twin Rivers.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Twin Rivers, the average cost of solar panels is $3 per watt. The average Twin Rivers homeowner needs a 4.7-kilowatt system, which would cost about $9,675, or $7,160 after the federal solar tax credit is applied.

Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of solar panels you want, your solar contractor and more. Many homeowners find going solar is a fruitful investment. The average homeowner in Twin Rivers can save about $14,000 on their electricity bills over 20 years.

You can click the button below to get connected with a pre-vetted solar company in Twin Rivers that can help you get a more accurate cost estimate for your home.

Solar savings over time in Twin Rivers

Year Return on Investment
1 years $-8,994
3 years $-7,633
5 years $-6,272
7 years $-4,910
9 years $-3,549
11 years $-2,188
13 years $-826
15 years $535
17 years $1,897
19 years $3,258
21 years $4,619
23 years $5,981
25 years $7,342

Top Solar Installers in Twin Rivers

Many homeowners opt for a solar installer since installing solar panels by yourself can be a labor-intensive endeavor. The payback period on a solar system will vary based on factors like your roof configuration and energy use, but working with a solar installer can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.

Working with a vetted solar company can help you make the most of your investment in solar. 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 Twin Rivers

Factors that Affect Solar Panel Costs in Twin Rivers

There are several criteria that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.

Solar Equipment Size

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size. Solar power systems that have 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 a lot of different solar panel brands and the one you choose also changes the cost. In general, the brands that are more efficient tend to also cost more. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

If paying for a solar system out of pocket is out of reach, solar loans are a solid route because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of loans, including the amount of 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 getting a solar loan with a low interest rate could reduce your costs remarkably.

Solar Panel Installation Company

The final significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Twin Rivers, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. The size of the company can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion 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 $12,791 $8,860 14.8 years
8 kW $2.83 $16,726 $12,141 14.5 years
10 kW $2.77 $20,498 $15,586 14.2 years
12 kW $2.71 $24,106 $19,195 13.9 years
14 kW $2.66 $27,549 $22,968 13.6 years
16 kW $2.60 $30,829 $26,905 13.3 years
18 kW $2.55 $33,945 $31,006 13.1 years
20 kW $2.49 $36,896 $35,271 12.8 years

Solar Incentives in Twin Rivers

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 PSE&G - Solar Loan Program
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

There are a lot of companies to choose from in Twin Rivers, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:

  • Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
  • Warranty: If you're concerned about the durability of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
  • Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.

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 Twin Rivers, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Twin Rivers?

This is a difficult 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. It will cost more if you want extra 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 expensive 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 the value of your home?

Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Twin Rivers is currently $295,700, which means you can expect about a value of about $12,124 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Twin Rivers is a worthwhile investment.

What solar power system size is right for my home?

To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.

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.

solar panel and sunny sky
Invest in clean solar energy, save thousands of dollars.

Save $$ on your electricity bill by getting a free quote today.

Follow us