Solar Panel Cost Guide in Forked River, NJ (2024 Update)

  • Forked River Solar Installation Cost: $10,964
  • 25-Year Savings: $7,580
  • Payback Period: 16.9 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Forked River

We go over average solar pricing in Forked River.

The average cost of a solar panel system in Forked River is 4 per watt.To account for the typical energy usage of the average home in Forked River, most homeowners require a 4.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $10,964, or $15,679 before the federal solar tax credit of 0 is applied.

The actual price you pay can be above or below the average in Forked River based on several factors, such as the kind of solar panels you choose and the solar installer you hire.Even with the significant initial cost, the average Forked River homeowner can save around $14,000 on their energy bills over 20 years, which is one of the advantages of solar.

Click the button below to get connected to a reputable solar installer in your area for a personalized quote.

Solar savings over time in Forked River

Year Return on Investment
1 years $-9,905
3 years $-7,787
5 years $-5,668
7 years $-3,550
9 years $-1,432
11 years $687
13 years $2,805
15 years $4,923
17 years $7,042
19 years $9,160
21 years $11,279
23 years $13,397
25 years $15,515

Top Solar Installers in Forked River

When going solar, many homeowners opt to go with a solar installer since overseeing your solar installation yourself can be a difficult project. Companies can also provide access to a large variety of the best solar panels and help you choose which one will be right for you.

If you're searching for a solar company in Forked River, we've organized a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Forked River

Factors that Affect Solar Panel Costs in Forked River

Though the average cost of a solar system in Forked River is $10,964, your final cost may be above or below the average. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to consider.

Solar Equipment

The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,530. There are many different solar panel brands and the one you pick also changes the cost. Generally, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

If paying for solar panels out of pocket is too expensive, solar loans are a solid choice because they reduce your upfront costs and allow you to pay for your system over five to seven years on average.It’s a good idea 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 the amount of time it’ll take to pay off the loan.

Solar Panel Installation Company

The solar company you choose will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials 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 $6,464 17.6 years
8 kW $3.60 $20,163 $9,014 17.3 years
10 kW $3.53 $24,710 $11,762 16.9 years
12 kW $3.46 $29,059 $14,708 16.6 years
14 kW $3.39 $33,210 $17,851 16.3 years
16 kW $3.32 $37,164 $21,192 15.9 years
18 kW $3.25 $40,920 $24,730 15.6 years
20 kW $3.18 $44,478 $28,466 15.2 years

How to Save on Solar Panels

Since the brand of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
  • Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can check your installer’s reputation is by reading reviews.
  • Contract: Review the contract terms carefully to make sure you understand how much it will cost, completion timeline incentives and warranties.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Forked River, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Forked River?

This is a difficult question to answer precisely, because the cost depends on many factors. Broadly 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Should I lease or buy solar panels in Forked River?

Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.

Can solar panels significantly reduce my power bills?

Solar panels can potentially eliminate your electricity bills depending on where you’re located 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 $729.44 per year.

How often do you have to replace solar panels?

On average, the lifespan of solar panels is 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.

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