Solar Panel Cost Guide in Upper Freehold, NJ (2023 Update)
- Upper Freehold Solar Installation Cost: $8,764
- 25-Year Savings: $8,086
- Payback Period: 13.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Upper Freehold
Find out what the average cost of solar panels are in Upper Freehold.
In Upper Freehold, solar panels cost about 2.77 per watt on average. To account for the typical energy usage of the average home in Upper Freehold, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs about $8,764, or $12,533 before the federal solar tax credit of 30% is applied.
These figures are only averages, and your own solar costs will most likely differ based on factors unique to your home and what company you choose to go with. But, once you've paid the initial cost of installation, the ROI for most homeowners is quite fruitful, with a net average savings of about $14,000 over 20 years on power bills.
To receive a free quote from a highly rated solar installer in Upper Freehold, you can click the button below.
Solar savings over time in Upper Freehold
| Year | Return on Investment |
|---|---|
| 1 years | $-8,090 |
| 3 years | $-6,742 |
| 5 years | $-5,394 |
| 7 years | $-4,046 |
| 9 years | $-2,698 |
| 11 years | $-1,350 |
| 13 years | $-2 |
| 15 years | $1,346 |
| 17 years | $2,694 |
| 19 years | $4,042 |
| 21 years | $5,390 |
| 23 years | $6,738 |
| 25 years | $8,086 |
Top Solar Installers in Upper Freehold
Although you can install solar panels by yourself, it requires extra time and know-how. That's why most people choose to hire a solar panel installer. Plus, if you're not certain what brand of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.
If you'd like to start using solar energy but still aren't certain which solar company to go with, here are our recommendations for providers in Upper Freehold:
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 Upper Freehold
Factors that Affect Solar Panel Costs in Upper Freehold
For many Upper Freehold homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Upper Freehold, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $2,770 per kilowatt in Upper Freehold. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Upper Freehold average.
Solar Financing Terms
Many homeowners find the average cost of solar in Upper Freehold to be too steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest. It's a good idea 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 back the loan.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Upper Freehold, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $10,267 | 13.5 years |
| 8 kW | $2.83 | $15,822 | $13,999 | 13.3 years |
| 10 kW | $2.77 | $19,390 | $17,887 | 13.0 years |
| 12 kW | $2.71 | $22,803 | $21,929 | 12.7 years |
| 14 kW | $2.66 | $26,060 | $26,127 | 12.5 years |
| 16 kW | $2.60 | $29,163 | $30,480 | 12.2 years |
| 18 kW | $2.55 | $32,110 | $34,988 | 12.0 years |
| 20 kW | $2.49 | $34,902 | $39,651 | 11.7 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases provide good-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which type 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 ask for their list of options before deciding.
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 Upper Freehold, NJ Solar Cost FAQs
How much does it cost to install 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 actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Upper Freehold?
Solar panels aren't free in Upper Freehold, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Does Upper Freehold have a net metering program?
Most states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Upper Freehold?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can 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.