Solar Panel Cost Guide in Woodbury Heights, NJ (2023 Update)
- Woodbury Heights Solar Installation Cost: $9,012
- 25-Year Savings: $11,293
- Payback Period: 11.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Woodbury Heights
Find out how much it might cost to install solar panels in Woodbury Heights.
While the national average of solar panels is $2.66 per watt, solar panels in Woodbury Heights generally cost about 2.77. Using this figure, a typical 4.7-kW system would cost about $9,016 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of installing solar panels can vary quite a bit based on several factors, such as what size system you need, your energy consumption and what installation company you go with. With average savings of about $17,000 on power bills over 20 years, many homeowners in Woodbury Heights find investing in solar can pay off big.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Woodbury Heights
| Year | Return on Investment |
|---|---|
| 1 years | $-7,514 |
| 3 years | $-4,518 |
| 5 years | $-1,521 |
| 7 years | $1,475 |
| 9 years | $4,472 |
| 11 years | $7,468 |
| 13 years | $10,464 |
| 15 years | $13,461 |
| 17 years | $16,457 |
| 19 years | $19,453 |
| 21 years | $22,450 |
| 23 years | $25,446 |
| 25 years | $28,443 |
Top Solar Installers in Woodbury Heights
Installing solar panels yourself can be a challenging undertaking, which is why using a solar installer is a good option for many homeowners. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and component replacements.
If you'd like to make the switch to solar but still aren't certain which solar system company to go with, here are our recommendations for providers nearby:
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 Woodbury Heights
Factors that Affect Solar Panel Costs in Woodbury Heights
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Woodbury Heights: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The brand of solar panels and equipment you choose is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment is more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are provided by most installers in Woodbury Heights, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar panel installer you pick will influence your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $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
Since the brand of solar panels and the installation company you choose considerably affects your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Review the contract terms closely to make sure you understand the overall cost, project completion timeline incentives and warranties.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: When going solar, it's necessary to keep an open line of communication with your solar company. Confirm that you understand how the installation process will go and the project completion 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 Woodbury Heights, NJ Solar Cost FAQs
How much does it cost to install solar panels in Woodbury Heights?
The average cost of solar panels in Woodbury Heights 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 things like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Woodbury Heights have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.