Solar Panel Cost Guide in Asbury Park, NJ (2024 Update)
- Asbury Park Solar Installation Cost: $11,170
- 25-Year Savings: $7,419
- Payback Period: 17.3 Years
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Average Cost of Solar Panels in Asbury Park
Find out how much it might cost to go solar in Asbury Park.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Asbury Park, the average cost of solar panels is 4 per watt.To account for the typical energy needs of the average home in Asbury Park, most homeowners require a 4.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,170, or $15,973 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of solar system you choose, your solar contractor and more.With typical savings of about $14,000 on power bills over 20 years, many homeowners in Asbury Park find installing solar panels can be quite rewarding.
You can click the button below to get connected with a vetted solar installer in Asbury Park that can help you get a more accurate cost estimate for your home.
Solar savings over time in Asbury Park
| Year | Return on Investment |
|---|---|
| 1 years | $-10,111 |
| 3 years | $-7,992 |
| 5 years | $-5,874 |
| 7 years | $-3,755 |
| 9 years | $-1,637 |
| 11 years | $481 |
| 13 years | $2,600 |
| 15 years | $4,718 |
| 17 years | $6,837 |
| 19 years | $8,955 |
| 21 years | $11,073 |
| 23 years | $13,192 |
| 25 years | $15,310 |
Top Solar Installers in Asbury Park
Although it's possible to install solar panels by yourself, it takes extra time and know-how. Because of that, most people choose to hire a solar panel installer. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
There are several licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Asbury Park
Factors that Affect Solar Panel Costs in Asbury Park
While the average cost of a solar system in Asbury Park is $11,170, your final cost may differ. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use 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 brand of solar panels and equipment you get is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment consists of more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Asbury Park to be too costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can play a role in determining how much it costs. Asbury Park’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and go with the company that provides the products, warranties and services you want and also fits within your budget.
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 | $6,062 | 17.9 years |
| 8 kW | $3.60 | $20,163 | $8,478 | 17.6 years |
| 10 kW | $3.53 | $24,710 | $11,092 | 17.3 years |
| 12 kW | $3.46 | $29,059 | $13,903 | 16.9 years |
| 14 kW | $3.39 | $33,210 | $16,912 | 16.6 years |
| 16 kW | $3.32 | $37,164 | $20,119 | 16.2 years |
| 18 kW | $3.25 | $40,920 | $23,524 | 15.9 years |
| 20 kW | $3.18 | $44,478 | $27,126 | 15.5 years |
How to Save on Solar Panels
The solar installer you opt for will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, including:
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a good company.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Solar Panel Brands: The model of solar panel you need to get plays a part in which company you should opt for, since different companies provide different panels.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Asbury Park, NJ Solar Cost FAQs
How much does it cost to install solar panels in Asbury Park?
The average cost of solar panels in Asbury Park 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 things such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Asbury Park is currently $563,662, which means you can expect a value of about $23,110 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Asbury Park is a rewarding investment.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.