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

  • Twin Rivers Solar Installation Cost: $9,152
  • 25-Year Savings: $7,865
  • Payback Period: 13.4 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Twin Rivers

Find out what the average cost of a solar system is in Twin Rivers.

The average cost of a solar system in Twin Rivers is $3 per watt. The average Twin Rivers homeowner needs a 4.7-kilowatt system, which would cost about $9,152, or $6,772 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary depending on several factors, such as what size system you need, your energy usage and what company you go with. With typical savings of about $14,000 on electricity bills over 20 years, many homeowners in Twin Rivers find installing solar panels can pay off big.

To calculate your potential savings and connect with a local solar installer, click the button below.

Solar savings over time in Twin Rivers

Year Return on Investment
1 years $-8,471
3 years $-7,110
5 years $-5,749
7 years $-4,387
9 years $-3,026
11 years $-1,665
13 years $-303
15 years $1,058
17 years $2,419
19 years $3,781
21 years $5,142
23 years $6,504
25 years $7,865

Top Solar Installers in Twin Rivers

Although you can install solar panels yourself, it takes extra time and knowledge. For that reason, the majority of homeowners choose to go with a solar panel installer. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be right for your home.

Working with a licensed solar installer 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 Twin Rivers

Factors that Affect Solar Panel Costs in Twin Rivers

Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Twin Rivers: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.

Solar Equipment Size

One of the most significant factors to consider when it comes to the cost of going solar 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 Twin Rivers. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Twin Rivers homeowners decide to finance their solar panel systems to offset upfront costs. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.

Solar Panel Installation Company

The solar installer you go with to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar installation companies in Twin Rivers, and each can charge different amounts for labor and equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger 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 $9,551 14.0 years
8 kW $2.83 $15,822 $13,045 13.7 years
10 kW $2.77 $19,390 $16,694 13.4 years
12 kW $2.71 $22,803 $20,498 13.2 years
14 kW $2.66 $26,060 $24,457 12.9 years
16 kW $2.60 $29,163 $28,572 12.6 years
18 kW $2.55 $32,110 $32,841 12.4 years
20 kW $2.49 $34,902 $37,266 12.1 years

Solar Incentives in Twin Rivers

Name Successor Solar Incentive (SuSI) Program
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Website Visit here
More Info Click here

Name PSE&G - Solar Loan Program
Website Visit here
More Info Click here

Name NJ Clean Energy- Residential New Construction Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name COOLAdvantage Program
Website Visit here
More Info Click here

Name NJ Clean Energy- WARMAdvantage Program (Electric and Gas)
Website Visit here
More Info Click here

Name New Jersey Renewable Energy Incentive Program (Sustainable Biopower)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:

  • Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
  • Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
  • Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
  • Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and how long the project will take.

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

How much does it cost to install solar panels in Twin Rivers?

The average cost of solar panels in Twin Rivers is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.

Can you get solar panels for free in Twin Rivers?

A solar panel system isn't free in Twin Rivers, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.

Can you sell solar power back to the grid in Twin Rivers?

Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.

How long do solar panels last in Twin Rivers?

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 their energy production will have decreased significantly after that point. You can opt 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.

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