Solar Panel Cost Guide in Cherry Hill Mall, NJ (2024 Update)
- Cherry Hill Mall Solar Installation Cost: $11,511
- 25-Year Savings: $8,818
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Cherry Hill Mall
See how much it might cost to install solar panels in Cherry Hill Mall.
Although the national average of solar panels is $2.66 per watt, solar panels in Cherry Hill Mall generally cost around 4.The average Cherry Hill Mall homeowner needs a 4.7-kilowatt system, which would cost about $11,511 with the federal tax credit, or $16,461 before the 0 tax credit is applied.
These figures are just estimates, and your own solar costs will differ based on your specific situation and what company you go with.For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Cherry Hill Mall see about $15,000 in savings on electricity bills over 20 years.
To receive a free quote from a highly rated solar installer in Cherry Hill Mall, you can click the button below.
Solar savings over time in Cherry Hill Mall
| Year | Return on Investment |
|---|---|
| 1 years | $-10,088 |
| 3 years | $-7,244 |
| 5 years | $-4,399 |
| 7 years | $-1,554 |
| 9 years | $1,291 |
| 11 years | $4,135 |
| 13 years | $6,980 |
| 15 years | $9,825 |
| 17 years | $12,670 |
| 19 years | $15,514 |
| 21 years | $18,359 |
| 23 years | $21,204 |
| 25 years | $24,049 |
Top Solar Installers in Cherry Hill Mall
Although it's possible to install solar panels yourself, it takes extra energy and knowledge. That's one of the reasons almost all homeowners choose a solar panel installer. Another benefit of going with a solar installer is that they can help you make the most of your ROI by cutting back on future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
If you’d like to make the switch to solar but still aren’t sure which solar system installer to go with, here are our suggestions for providers in Cherry Hill Mall:
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 Cherry Hill Mall
Factors that Affect Solar Panel Costs in Cherry Hill Mall
Cost is usually 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 Cherry Hill Mall: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay around $3,530 per kilowatt in Cherry Hill Mall.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your energy bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Cherry Hill Mall average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Cherry Hill Mall, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also adds to your total costs, so it’s crucial to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Cherry Hill Mall is the company you hire to install your solar system. Similar to choosing a company to install new cabinets, for example, you’ll have many options for solar installers that provide a range of services at different costs.You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, 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 | $3.67 | $15,419 | $7,573 | 16.8 years |
| 8 kW | $3.60 | $20,163 | $10,492 | 16.4 years |
| 10 kW | $3.53 | $24,710 | $13,609 | 16.1 years |
| 12 kW | $3.46 | $29,059 | $16,924 | 15.8 years |
| 14 kW | $3.39 | $33,210 | $20,437 | 15.5 years |
| 16 kW | $3.32 | $37,164 | $24,147 | 15.2 years |
| 18 kW | $3.25 | $40,920 | $28,055 | 14.8 years |
| 20 kW | $3.18 | $44,478 | $32,161 | 14.5 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose considerably impacts 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:
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Review the contract terms closely to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely provide good-quality solar panel installation and expertise.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
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 Cherry Hill Mall, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Cherry Hill Mall?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Are solar panels free in Cherry Hill Mall?
A solar panel system isn’t free in Cherry Hill Mall, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $766.39 per year.
What solar power system size is right for 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.