Solar Panel Cost Guide in West Deptford, NJ (Jun 2022)

  • West Deptford Solar Installation Cost: $9,532
  • 25-Year Savings: $10,551
  • Payback Period: 11.9 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 5/26/2022

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Average Cost of Solar Panels in West Deptford

Let's take a look at the average cost of solar panels in West Deptford.

While the national average of solar panels is $2.66 per watt, solar panels in West Deptford typically cost around $3. Using this figure, a typical 4.7 would cost about $9,532 before the federal solar tax credit is applied.

The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of making the switch to solar can vary quite a bit depending on several factors, such as what size system you need, your energy consumption and what solar installer you go with. But, once you've paid the initial cost of installation, the payback for most homeowners is usually good, with a net average savings of about $16,000 over 20 years on energy bills.

Click the button below to get connected to a top solar company in your area for a custom quote.

Solar savings over time in West Deptford

Year Return on Investment
1 years $-8,728
3 years $-7,122
5 years $-5,515
7 years $-3,908
9 years $-2,302
11 years $-695
13 years $911
15 years $2,518
17 years $4,125
19 years $5,731
21 years $7,338
23 years $8,944
25 years $10,551

Top Solar Installers in West Deptford

Although it's possible to install solar panels on your own, it requires extra time and knowledge. That's why most people choose a solar panel installer. The payback period on an investment in solar panels will vary depending on factors like your roof configuration and energy usage, but working with a solar installer can shorten it. Your provider will be able to help you get the most out of incentives available in your area.

If you'd like to switch to solar energy but still aren't certain which solar panel installer to go with, here are our suggestions for providers nearby:

Best National Provider

SunPower

5.0

  • Pros iconMost efficient panels on the market
  • Pros iconNational coverage
  • Pros iconCradle to Cradle sustainability certification
  • Pros iconGreat warranty coverage
  • Con iconExpensive
  • Con iconCustomer service varies by local dealer

Best Regional Coverage

Momentum Solar

4.5

  • Pros iconGreat warranty coverage
  • Pros iconRepresentatives are experts on local policies
  • Pros iconConcierge service ensures steady communication
  • Con iconSlightly limited service offerings

Best Technology

Tesla Energy

4.5

  • Pros iconPrice-match guarantee
  • Pros iconSleek, efficient, and durable solar panels
  • Pros iconBest solar battery on the market
  • Con iconSome reported issues with customer service
  • Con iconCustomer service varies by local dealer

See all of the solar companies in West Deptford

Factors that Affect Solar Panel Costs in West Deptford

There are a number of factors that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.

Solar Equipment Size

When it comes to estimating the cost of a solar energy system in West Deptford, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can determine by looking at past electricity bills. Your total cost can increase by around $2,770 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you pick also changes the cost. In general, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

If paying for a solar system out of pocket is too expensive, solar loans are a popular choice because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.

Solar Panel Installation Company

A final factor to keep in mind when trying to figure out the cost of solar for your home or business in West Deptford is the company you choose to install your solar system. As with choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services at different price points. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 $12,791 $13,134 12.3 years
8 kW $2.83 $16,726 $17,840 12.1 years
10 kW $2.77 $20,498 $22,710 11.9 years
12 kW $2.71 $24,106 $27,743 11.6 years
14 kW $2.66 $27,549 $32,941 11.4 years
16 kW $2.60 $30,829 $38,303 11.1 years
18 kW $2.55 $33,945 $43,829 10.9 years
20 kW $2.49 $36,896 $49,519 10.7 years

Solar Incentives in West Deptford

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 installation company you choose have an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:

  • Solar Panel Brands: Different companies offer different brands and models of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
  • Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
  • Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
  • Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.

Best National Provider

SunPower

5.0

  • Pros iconMost efficient panels on the market
  • Pros iconNational coverage
  • Pros iconCradle to Cradle sustainability certification
  • Pros iconGreat warranty coverage
  • Con iconExpensive
  • Con iconCustomer service varies by local dealer

Best Regional Coverage

Momentum Solar

4.5

  • Pros iconGreat warranty coverage
  • Pros iconRepresentatives are experts on local policies
  • Pros iconConcierge service ensures steady communication
  • Con iconSlightly limited service offerings

Best Technology

Tesla Energy

4.5

  • Pros iconPrice-match guarantee
  • Pros iconSleek, efficient, and durable solar panels
  • Pros iconBest solar battery on the market
  • Con iconSome reported issues with customer service
  • Con iconCustomer service varies by local dealer

EcoWatch's West Deptford, NJ Solar Cost FAQs

How much does it cost to install solar panels in West Deptford?

This is a hard question to answer exactly, because the cost depends on a few different 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 other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.

What other factors should I consider aside from cost when buying solar panels?

Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Do solar panels increase your home value?

Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."

How often do you have to replace solar panels?

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 their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using 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.

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