Solar Panel Cost Guide in Upper Freehold, NJ (Aug 2022)

  • Upper Freehold Solar Installation Cost: $9,265
  • 25-Year Savings: $7,585
  • Payback Period: 13.7 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 Upper Freehold

We go over average solar pricing in Upper Freehold.

The national average cost of solar panels is $2.66 per watt, but in Upper Freehold it's $3 per watt. The average Upper Freehold 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 actual price you pay can be above or below the average in Upper Freehold depending on a variety of factors, such as the type of solar panels you choose and the solar contractor you hire. Even with the significant upfront cost, the average Upper Freehold homeowner can save about $14,000 on their power bills over 20 years, which is one of the perks of solar.

To get a free estimate from a top solar installation company in Upper Freehold, you can click the button below.

Solar savings over time in Upper Freehold

Year Return on Investment
1 years $-8,591
3 years $-7,243
5 years $-5,895
7 years $-4,547
9 years $-3,199
11 years $-1,851
13 years $-503
15 years $845
17 years $2,193
19 years $3,541
21 years $4,889
23 years $6,237
25 years $7,585

Top Solar Installers in Upper Freehold

Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Going with an installer can make going solar much easier. Local solar installation companies can also help you maximize your return on investment by walking you through any local incentives you can benefit from and by offering warranties and repairs.

There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:

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 Upper Freehold

Factors that Affect Solar Panel Costs in Upper Freehold

The cost of installing a solar system in Upper Freehold can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.

Solar Equipment Size

When it comes to estimating the cost of a solar panel system in Upper Freehold, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can determine by looking at past energy bills. Your overall cost can increase by around $2,770 for each additional kilowatt you need. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more 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

If paying for a solar system out of pocket is difficult, solar loans are an affordable choice because they decrease your upfront costs and let you pay for your system over five to seven years on average. While solar loans make going solar more accessible for Upper Freehold homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

The solar company you go with to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies in Upper Freehold, and each can charge varying amounts for labor and equipment. Additionally, some companies in Upper Freehold know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.

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 $9,575 14.3 years
8 kW $2.83 $16,726 $13,095 14.0 years
10 kW $2.77 $20,498 $16,779 13.7 years
12 kW $2.71 $24,106 $20,626 13.5 years
14 kW $2.66 $27,549 $24,638 13.2 years
16 kW $2.60 $30,829 $28,814 12.9 years
18 kW $2.55 $33,945 $33,153 12.6 years
20 kW $2.49 $36,896 $37,657 12.4 years

Solar Incentives in Upper Freehold

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

The company that does your solar 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 difficult, we have some tips to help you, such as:

  • Reputation: Long-running companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
  • Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project timeline.
  • Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one mark of a good company.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.

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 Upper Freehold, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Upper Freehold?

The average cost of solar panels in Upper Freehold 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 stuff like the type of solar panels you want, what size system you need and how much energy you consume.

Is cost the most important thing to think about when buying solar panels?

Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Do solar panels increase how much your home is worth?

Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't go 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."

How many solar panels should I get to power my home?

To figure out what solar panel system size you need, you need to know how much energy your home requires 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 home 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.

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