Solar Panel Cost Guide in Wildwood Crest, NJ (2023 Update)
- Wildwood Crest Solar Installation Cost: $8,207
- 25-Year Savings: $14,554
- Payback Period: 9.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Wildwood Crest
Find out what the average cost of a solar system is in Wildwood Crest.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Wildwood Crest, the typical cost of a solar system is 2.77 per watt. Since a 4.2-kW system is needed to cover the energy consumption of a typical home in Wildwood Crest, the average price of going solar will be about $8,202 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of going solar can vary depending on a few factors, such as what size system you need, your energy usage and what solar installer you go with. For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Wildwood Crest see about $20,000 in savings on energy bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Wildwood Crest
| Year | Return on Investment |
|---|---|
| 1 years | $-6,708 |
| 3 years | $-3,712 |
| 5 years | $-716 |
| 7 years | $2,281 |
| 9 years | $5,277 |
| 11 years | $8,273 |
| 13 years | $11,270 |
| 15 years | $14,266 |
| 17 years | $17,263 |
| 19 years | $20,259 |
| 21 years | $23,255 |
| 23 years | $26,252 |
| 25 years | $29,248 |
Top Solar Installers in Wildwood Crest
Although it's possible to install solar panels yourself, it takes extra time and expertise. That's one of the reasons most homeowners choose a solar panel installer. A solar company can also help save you money in the long run by offering warranties, repairs and part replacements.
If you'd like to switch to solar energy but still aren't certain which solar panel 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 Wildwood Crest
Factors that Affect Solar Panel Costs in Wildwood Crest
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few key factors that will push your cost above or below the average in Wildwood Crest: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $2,770 per kilowatt in Wildwood Crest. There are a lot of different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you're looking to install 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 solar out of pocket can be difficult. Solar loans are available from most installers in Wildwood Crest, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also adds to your total costs, so it's important to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you go with to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies in Wildwood Crest, and each can charge different amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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 | $20,167 | 9.4 years |
| 8 kW | $2.83 | $15,822 | $27,200 | 9.2 years |
| 10 kW | $2.77 | $19,390 | $34,387 | 9.0 years |
| 12 kW | $2.71 | $22,803 | $41,730 | 8.8 years |
| 14 kW | $2.66 | $26,060 | $49,228 | 8.7 years |
| 16 kW | $2.60 | $29,163 | $56,881 | 8.5 years |
| 18 kW | $2.55 | $32,110 | $64,689 | 8.3 years |
| 20 kW | $2.49 | $34,902 | $72,652 | 8.1 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies will have various brands and types of panels. If you want a specific brand, make sure the solar company you're considering has it.
- Contract: Review the contract terms carefully to make sure you understand the overall cost, project timeline rebates and warranties.
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 Wildwood Crest, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Wildwood Crest?
This is a hard question to answer precisely, 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Wildwood Crest?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can solar panels significantly reduce my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Wildwood Crest, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a 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.