Solar Panel Cost Guide in Collingswood, NJ (2024 Update)
- Collingswood 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 Collingswood
We go over average solar pricing in Collingswood.
The average cost of a solar system in Collingswood is 4 per watt.To cover the typical energy usage of the average home in Collingswood, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $11,511, or $16,461 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of solar system you want to get, your solar contractor and more.For many homeowners, the upfront investment in solar power is worth paying. On average homeowners in Collingswood see about $15,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Collingswood for a quote for your home.
Solar savings over time in Collingswood
| 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 Collingswood
Many homeowners opt for a solar installation company since trying to put up solar panels by yourself can be a labor-intensive endeavor. The payback period on a solar system will vary depending on factors like your roof configuration and energy consumption, but going with a solar installer can shorten it. Your provider will be able to help you identify incentives available in your area.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some nearby:
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 Collingswood
Factors that Affect Solar Panel Costs in Collingswood
For many Collingswood homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Collingswood, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you’ll pay, which we'll go over 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 consumes, the larger your system will likely need to be. You can expect to pay about $3,530 per kilowatt in Collingswood.The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are an affordable route because they cut back your upfront costs and let you pay for your system over five to seven years on average.However, the interest on solar loans also increases your total costs, so it’s vital to keep that in mind as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The remaining key cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Collingswood, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 | $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
The solar panel company you go with will influence not only your total 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 consider, such as:
- Contract: When looking over your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely provide quality solar panel installation and expertise.
- 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.
- Installation Process: When going solar, it’s crucial to keep an open line of communication with your solar installer. Make sure you understand how the installation process works and the project timeline.
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 Collingswood, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Collingswood?
The average cost of solar panels in Collingswood is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
The initial cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Can solar panels eliminate my power bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Collingswood, that will require at least a 10-kW system. Not all homes will have the roof space for 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?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.