Solar Panel Cost Guide in Wantage, NJ (2023 Update)
- Wantage Solar Installation Cost: $9,317
- 25-Year Savings: $9,004
- Payback Period: 12.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Wantage
We go over average solar pricing in Wantage.
In Wantage, solar panels cost about 2.77 per watt on average. The average Wantage homeowner needs a 4.8-kilowatt system, which would cost about $9,327 with the federal tax credit, or $13,338 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy consumption, the type of solar panels you want, your solar contractor and more. Even with the large initial cost, the average Wantage homeowner can save around $14,000 on their energy bills over 20 years, which is one of the perks of solar.
To receive a free estimate from a top solar installer in Wantage, you can click the button below.
Solar savings over time in Wantage
| Year | Return on Investment |
|---|---|
| 1 years | $-8,258 |
| 3 years | $-6,140 |
| 5 years | $-4,021 |
| 7 years | $-1,903 |
| 9 years | $215 |
| 11 years | $2,334 |
| 13 years | $4,452 |
| 15 years | $6,570 |
| 17 years | $8,689 |
| 19 years | $10,807 |
| 21 years | $12,926 |
| 23 years | $15,044 |
| 25 years | $17,162 |
Top Solar Installers in Wantage
Many homeowners choose to use a solar installation company since trying to put up solar panels by yourself can be a labor-intensive endeavor. Also, companies with a high reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you'd like to go solar but still aren't certain which solar system company to go with, here are our suggestions for providers near you:
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 Wantage
Factors that Affect Solar Panel Costs in Wantage
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that determine your overall cost in Wantage: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
When it comes to estimating the cost of solar panels in Wantage, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by about $2,770 for each additional kilowatt you need. There are many different solar panel brands and the one you choose also affects the cost. Typically, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Wantage, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also increases your all-in costs, so it's crucial to consider that as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Wantage, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. The company's size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger 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 | $10,777 | 13.2 years |
| 8 kW | $2.83 | $15,822 | $14,680 | 13.0 years |
| 10 kW | $2.77 | $19,390 | $18,737 | 12.7 years |
| 12 kW | $2.71 | $22,803 | $22,950 | 12.5 years |
| 14 kW | $2.66 | $26,060 | $27,318 | 12.2 years |
| 16 kW | $2.60 | $29,163 | $31,841 | 12.0 years |
| 18 kW | $2.55 | $32,110 | $36,520 | 11.7 years |
| 20 kW | $2.49 | $34,902 | $41,353 | 11.4 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose considerably influences 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:
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: The model of solar panel you need plays a part in which company you should opt for, since different companies have access to different panels.
- Contract: When reading through your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Installation Process: When going solar, it's necessary to maintain an open line of communication with your solar panel company. Make sure you understand how the installation process works and the project timeline.
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 Wantage, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Wantage?
This is a hard question to answer exactly, because the cost depends on a variety of 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Wantage?
Each state has some kind 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 offer you credit toward your future power bills.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs 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 buy between 20 and 35 panels to cover 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.