Solar Panel Cost Guide in Lumberton, NJ (2024 Update)
- Lumberton Solar Installation Cost: $11,389
- 25-Year Savings: $8,913
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Lumberton
Find out how much it might cost to go solar in Lumberton.
The national average cost of solar panels is $2.66 per watt, but in Lumberton it’s 4 per watt.Because a 4.6-kW system is needed to cover the energy needs of a typical home in Lumberton, the average price of going solar will be about $11,389 after claiming the federal solar tax credit of 0.
How much you pay can be above or below the average in Lumberton based on a few factors, such as the model of solar panels you choose and the solar contractor you hire.For many homeowners, the upfront cost of solar is worth paying. On average Lumberton homeowners see about $15,000 in savings on electricity bills over 20 years.
To get a free quote from a vetted solar installation company in Lumberton, you can click the button below.
Solar savings over time in Lumberton
| Year | Return on Investment |
|---|---|
| 1 years | $-9,929 |
| 3 years | $-7,009 |
| 5 years | $-4,088 |
| 7 years | $-1,167 |
| 9 years | $1,753 |
| 11 years | $4,674 |
| 13 years | $7,594 |
| 15 years | $10,515 |
| 17 years | $13,435 |
| 19 years | $16,356 |
| 21 years | $19,276 |
| 23 years | $22,197 |
| 25 years | $25,118 |
Top Solar Installers in Lumberton
Although you can install solar panels yourself, it takes extra labor and expertise. That's why most people choose a solar panel installer. A solar installer can also help save you money in the long run by offering warranties, repairs and part replacements.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Lumberton:
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 Lumberton
Factors that Affect Solar Panel Costs in Lumberton
The cost of installing a solar system in Lumberton can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.There are a lot of different solar panel brands and the one you choose also changes the cost. Usually, the brands that are more efficient tend to also cost more. Plus, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Lumberton, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of loans, 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 remaining key cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Lumberton, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have 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 | $7,817 | 16.6 years |
| 8 kW | $3.60 | $20,163 | $10,819 | 16.3 years |
| 10 kW | $3.53 | $24,710 | $14,017 | 16.0 years |
| 12 kW | $3.46 | $29,059 | $17,414 | 15.6 years |
| 14 kW | $3.39 | $33,210 | $21,008 | 15.3 years |
| 16 kW | $3.32 | $37,164 | $24,800 | 15.0 years |
| 18 kW | $3.25 | $40,920 | $28,790 | 14.7 years |
| 20 kW | $3.18 | $44,478 | $32,977 | 14.4 years |
How to Save on Solar Panels
The company that does your 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 a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Contract: Before signing a contract with a solar installer, make sure you read it through fully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
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 Lumberton, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Lumberton?
The average cost of solar panels in Lumberton is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Lumberton?
You can’t get solar panels for free in Lumberton. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Lumberton?
The majority of states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future electricity 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?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using them at a lower efficiency.
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.