Solar Panel Cost Guide in Waterford, NJ (2025 Update)
- Waterford Solar Installation Cost: $11,511
- 25-Year Savings: $13,728
- Payback Period: 12.6 Years
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Average Cost of Solar Panels in Waterford
We go over average solar pricing in Waterford.
Although the national average of solar panels is $2.66 per watt, solar panels in Waterford generally cost about 4.The average Waterford homeowner needs a 4.7-kilowatt system, which would cost about $11,511 with the federal tax credit, or $16,461 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Waterford homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.For most homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $19,000 in savings on energy bills over 20 years.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Waterford
| Year | Return on Investment |
|---|---|
| 1 years | $-10,012 |
| 3 years | $-7,016 |
| 5 years | $-4,020 |
| 7 years | $-1,023 |
| 9 years | $1,973 |
| 11 years | $4,969 |
| 13 years | $7,966 |
| 15 years | $10,962 |
| 17 years | $13,959 |
| 19 years | $16,955 |
| 21 years | $19,951 |
| 23 years | $22,948 |
| 25 years | $25,944 |
Top Solar Installers in Waterford
When going solar, many homeowners prefer to go with a solar installation company since overseeing your solar installation yourself can be a challenging project. Solar warranties and repairs are usually included in the cost of installation when you hire a solar company as well, which can save you more money after your upfront investment.
If you’d like to go solar but still aren’t sure which solar system installer to go with, here are our recommendations for providers in Waterford:
See all of the solar companies in Waterford
Factors that Affect Solar Panel Costs in Waterford
The cost of installing a solar system in Waterford can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with 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.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your energy bills. In addition, extra products, like solar batteries, can bump up your total well above the Waterford average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Waterford, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you choose to install your solar system can influence the cost. Waterford’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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 | $3.67 | $15,419 | $13,897 | 13.1 years |
| 8 kW | $3.60 | $20,163 | $18,925 | 12.9 years |
| 10 kW | $3.53 | $24,710 | $24,150 | 12.6 years |
| 12 kW | $3.46 | $29,059 | $29,574 | 12.4 years |
| 14 kW | $3.39 | $33,210 | $35,194 | 12.1 years |
| 16 kW | $3.32 | $37,164 | $41,013 | 11.9 years |
| 18 kW | $3.25 | $40,920 | $47,029 | 11.6 years |
| 20 kW | $3.18 | $44,478 | $53,243 | 11.4 years |
How to Save on Solar Panels
The solar installer you opt for will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:
- Installation Process: When making the switch to solar, it’s necessary to keep an open line of communication with your solar installer. Make sure you understand how the installation process works and the project timeline.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.
- Contract: Look through the contract terms closely to make sure you understand the overall cost, project timeline incentives and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
EcoWatch's Waterford, NJ Solar Cost FAQs
How much does it cost to install solar panels in Waterford?
The average cost of solar panels in Waterford is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff 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 Waterford?
A solar panel system isn’t free in Waterford, 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.
Is it worth going solar in Waterford?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can opt to 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.