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

  • Upper Freehold Solar Installation Cost: $8,764
  • 25-Year Savings: $8,086
  • Payback Period: 13.0 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 Upper Freehold

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

In Upper Freehold, solar panels cost about $3 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 $6,485 after 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 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

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 Size

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

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

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 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?

This is a difficult question to answer exactly, because the cost depends on many 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.

Can you get solar panels for free in Upper Freehold?

You can't get solar panels for free in Upper Freehold. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.

How much can I save on electricity bills after switching to solar?

Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $745.53 per year.

How many solar panels do I need to power my home?

The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.

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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