Solar Panel Cost Guide in Upper Freehold, NJ (2024 Update)

  • Upper Freehold Solar Installation Cost: $11,170
  • 25-Year Savings: $8,085
  • Payback Period: 16.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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 Upper Freehold

Find out what the average cost of installing solar panels is in Upper Freehold.

In Upper Freehold, solar panels cost about 4 per watt on average.To cover 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 $11,170, or $15,973 before the federal solar tax credit of 0 is applied.

These figures are only averages, and the cost of going solar for you will vary based on the amount of energy your home requires and what company you choose to go with.But, after you've paid the upfront cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $14,000 over 20 years on energy bills.

You can click the button below to get connected with a top solar company in Upper Freehold that can help you get a more accurate cost estimate for your home.

Solar savings over time in Upper Freehold

Year Return on Investment
1 years $-10,111
3 years $-7,992
5 years $-5,874
7 years $-3,755
9 years $-1,637
11 years $481
13 years $2,600
15 years $4,718
17 years $6,837
19 years $8,955
21 years $11,073
23 years $13,192
25 years $15,310

Top Solar Installers in Upper Freehold

When switching to solar energy, many homeowners prefer to go with a solar installation company since handling can be a difficult project. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over the lifespan of your panels.

If you’d like to start using solar energy but still aren’t sure which solar installer to go with, here are our recommendations for providers near you:

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 for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Upper Freehold

Factors that Affect Solar Panel Costs in Upper Freehold

Even though the average cost of a solar system in Upper Freehold is $11,170, your final cost may be above or below the average. There are many factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,530.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Upper Freehold, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

If paying for a solar system in cash is too expensive, solar loans are a popular choice because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also increases your all-in costs, so it’s crucial to include that in your estimate as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.

Solar Panel Installation Company

A final consideration when trying to evaluate the cost of solar for your home or business in Upper Freehold is the company you get to install your solar system. As with choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that provide a range of services at different price points.The size of the company sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater 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 discount can bring their pricing lower to compete with bigger names.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $3.67 $15,419 $6,947 17.2 years
8 kW $3.60 $20,163 $9,658 16.9 years
10 kW $3.53 $24,710 $12,567 16.6 years
12 kW $3.46 $29,059 $15,673 16.2 years
14 kW $3.39 $33,210 $18,977 15.9 years
16 kW $3.32 $37,164 $22,479 15.6 years
18 kW $3.25 $40,920 $26,178 15.2 years
20 kW $3.18 $44,478 $30,075 14.9 years

How to Save on Solar Panels

The solar installer you go with will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, including:

  • Contract: Before you sign a contract with a solar company, be sure to read it through fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
  • Installation Process: Make sure you’re aligned with the company with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can check your installer’s reputation is by reading reviews.
  • Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.

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 for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Upper Freehold, NJ Solar Cost FAQs

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

This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

Should I lease or buy solar panels in Upper Freehold?

Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.

Is making the switch to solar worth it?

Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.

How long do solar panels last in Upper Freehold?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.

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.

Follow us