Solar Panel Cost Guide in Lower, NJ (2024 Update)

  • Lower Solar Installation Cost: $10,458
  • 25-Year Savings: $26,996
  • Payback Period: 11.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated June 24, 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 Lower

See how much it might cost to install solar panels in Lower.

In Lower, solar panels cost about 4 per watt on average.To account for the typical energy needs of the average home in Lower, most homeowners require a 4.2-kilowatt system. Using the figure above, a solar installation costs around $10,458, or $14,955 before the federal solar tax credit of 0 is applied.

These figures are only averages, and how much solar costs for you will vary based on the amount of energy your home requires and what company you go with.With typical savings of about $20,000 on electricity bills over 20 years, many homeowners in Lower find investing in solar has a decent ROI.

To see your potential savings and connect with a local solar installer, click the button below.

Solar savings over time in Lower

YearReturn on Investment
1 years$-8,960
3 years$-5,964
5 years$-2,967
7 years$29
9 years$3,025
11 years$6,022
13 years$9,018
15 years$12,015
17 years$15,011
19 years$18,007
21 years$21,004
23 years$24,000
25 years$26,996

Top Solar Installers in Lower

Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar panel installer can make your swap to solar power much easier. Local solar installation companies can also help you maximize your return on investment by walking you through any local incentives you can take advantage of and by offering warranties and repairs.

Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:

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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 Lower

Factors that Affect Solar Panel Costs in Lower

While the average cost of a solar system in Lower is $10,458, your final cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.

Solar Equipment

When it comes to estimating the cost of a solar panel system in Lower, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can determine by looking at past energy bills. Your overall cost can increase by around $3,530 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you pick also affects the cost. Generally, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Many homeowners find the average cost of solar in Lower to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest.When estimating 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 lower the total interest paid over time.

Solar Panel Installation Company

The remaining major cost factor you should consider is the installer you choose. Given the massive popularity of green energy solutions in Lower, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and decide on the company that provides the products, warranties and services you’re looking for and also is within your budget.

Solar Panel Cost Data by System Size

System sizeCost per system wattSolar system cost25-Year savingsPayback period
6 kW$3.67$15,419$16,84711.9 years
8 kW$3.60$20,163$22,85811.7 years
10 kW$3.53$24,710$29,06711.5 years
12 kW$3.46$29,059$35,47411.3 years
14 kW$3.39$33,210$42,07811.0 years
16 kW$3.32$37,164$48,88010.8 years
18 kW$3.25$40,920$55,87910.6 years
20 kW$3.18$44,478$63,07610.3 years

How to Save on Solar Panels

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

  • Contract: Before you sign a contract with a solar company, make sure to read it through completely so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
  • Installation Process: When going solar, it’s essential to maintain an open line of communication with your solar company. Confirm that you understand how the installation process will go and the completion timeline.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before making your decision.
  • Warranty: If you care about the durability of your solar energy system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
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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 Lower, NJ Solar Cost FAQs

How much does it cost to install solar panels in Lower?

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. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.

What other factors should I consider apart from cost when buying solar panels?

Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Can solar panels completely eradicate my power bills?

Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,075.54 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 uses 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.