Solar Panel Cost Guide in Woodbury, NJ (2023 Update)
- Woodbury Solar Installation Cost: $9,016
- 25-Year Savings: $11,289
- Payback Period: 11.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Woodbury
Find out what the average cost of solar panels are in Woodbury.
In Woodbury, solar panels cost about 2.77 per watt on average. The average solar panel system size in Woodbury is around 4.7 kilowatts, meaning a cost of about $9,016 for a solar installation, or $12,893 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Woodbury 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. But, after you've paid the initial cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $17,000 over 20 years on electricity bills.
Click the button below to get connected to a top solar panel company in your area for a customized quote.
Solar savings over time in Woodbury
| Year | Return on Investment |
|---|---|
| 1 years | $-8,204 |
| 3 years | $-6,580 |
| 5 years | $-4,955 |
| 7 years | $-3,331 |
| 9 years | $-1,706 |
| 11 years | $-82 |
| 13 years | $1,543 |
| 15 years | $3,167 |
| 17 years | $4,791 |
| 19 years | $6,416 |
| 21 years | $8,040 |
| 23 years | $9,665 |
| 25 years | $11,289 |
Top Solar Installers in Woodbury
Putting up solar panels yourself can be a challenging task, which is why using a solar installer is a good option for many homeowners. Some solar installers, particularly local ones, can help you take advantage of incentives in Woodbury, therefore optimizing your ROI.
If you're looking for a solar installer in Woodbury, we've organized a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Woodbury
Factors that Affect Solar Panel Costs in Woodbury
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Woodbury: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of solar panels in Woodbury, one of the most important 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 gauge by looking at past energy bills. Your overall cost can increase by around $2,770 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Woodbury, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are provided by most installers in Woodbury, which can bring down, 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 total 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 finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Woodbury, you'll have plenty 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 bigger 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 | $14,113 | 11.5 years |
| 8 kW | $2.83 | $15,822 | $19,128 | 11.3 years |
| 10 kW | $2.77 | $19,390 | $24,298 | 11.1 years |
| 12 kW | $2.71 | $22,803 | $29,623 | 10.9 years |
| 14 kW | $2.66 | $26,060 | $35,103 | 10.7 years |
| 16 kW | $2.60 | $29,163 | $40,738 | 10.4 years |
| 18 kW | $2.55 | $32,110 | $46,528 | 10.2 years |
| 20 kW | $2.49 | $34,902 | $52,474 | 10.0 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Before you sign a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Woodbury, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Woodbury?
The average cost of solar panels in Woodbury is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Woodbury?
Leasing solar panels can be an appealing choice, because it usually 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 option if you want to get the most savings.
Can solar panels completely eradicate my electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Woodbury, that will require at least a 10-kW system. Not all homes 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.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much 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 get 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.