Solar Panel Cost Guide in Leisure Village, NJ (2024 Update)
- Leisure Village Solar Installation Cost: $10,964
- 25-Year Savings: $7,580
- Payback Period: 16.9 Years
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Average Cost of Solar Panels in Leisure Village
Find out what the average cost of installing solar panels is in Leisure Village.
The average cost of a solar system in Leisure Village is 4 per watt.Since a 4.4-kW system is needed to cover the energy needs of a typical home in Leisure Village, the average price of going solar will be about $10,964 after claiming the federal solar tax credit of 0.
The true cost of your system can be above or below the average in Leisure Village based on a few factors, such as the model of solar panels you choose and the solar installer you hire.Even with the high upfront cost, the average Leisure Village homeowner can save around $14,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To get a free estimate from a pre-vetted solar company in Leisure Village, you can click the button below.
Solar savings over time in Leisure Village
| 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 Leisure Village
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Going with a solar company can make your switch to solar power much easier. Some solar installers, especially local ones, can help you make the most of incentives in Leisure Village, thereby optimizing your ROI.
If you’d like to make the switch to solar but still aren’t sure which solar company to go with, here are our suggestions for providers near you:
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 Leisure Village
Factors that Affect Solar Panel Costs in Leisure Village
There are a number of criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.The brand of solar panels and equipment you get is another factor that will substantially affect 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 decide on 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’s in your budget.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable choice because they lower your upfront costs and allow you to pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar installation company you select will impact your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.The company’s size sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger 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
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely offer good-quality solar panel installation and expertise.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Contract: Even though reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
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 Leisure Village, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Leisure Village?
This is a tough question to answer exactly, because the cost depends on many 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Leisure Village?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Does Leisure Village have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future energy 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 higher amount 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.