Solar Panel Cost Guide in Margate City, NJ (2024 Update)
- Margate City Solar Installation Cost: $11,064
- 25-Year Savings: $14,078
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in Margate City
See how much it might cost to go solar in Margate City.
Although the national average of solar panels is $2.66 per watt, solar panels in Margate City generally cost around 4.The average solar panel system size in Margate City is around 4.5 kilowatts, meaning a cost of about $11,064 for a solar installation, or $15,822 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of going solar can vary based on several factors, such as how many panels you need, your energy usage and what company you go with.For many homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $19,000 in savings on utility bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Margate City
| Year | Return on Investment |
|---|---|
| 1 years | $-9,566 |
| 3 years | $-6,570 |
| 5 years | $-3,574 |
| 7 years | $-577 |
| 9 years | $2,419 |
| 11 years | $5,416 |
| 13 years | $8,412 |
| 15 years | $11,408 |
| 17 years | $14,405 |
| 19 years | $17,401 |
| 21 years | $20,397 |
| 23 years | $23,394 |
| 25 years | $26,390 |
Top Solar Installers in Margate City
Many homeowners opt for a solar panel installer since figuring out how to install solar panels on your own can be hard. Local solar companies can also help you optimize your return on investment by walking you through any local incentives and by offering warranties and repairs.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Margate City
Factors that Affect Solar Panel Costs in Margate City
Though the average cost of a solar system in Margate City is $11,064, your actual cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That’s why it’s important to accurately assess 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 pick also changes the cost. Generally speaking, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you’re looking to get 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
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Margate City homeowners opt to finance their solar panel systems to offset upfront costs.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Margate City is the company you hire to install your PV system. As with choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide a range of services for different budgets.The size of the company can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and bulk 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 | $15,079 | 12.6 years |
| 8 kW | $3.60 | $20,163 | $20,501 | 12.4 years |
| 10 kW | $3.53 | $24,710 | $26,121 | 12.2 years |
| 12 kW | $3.46 | $29,059 | $31,938 | 11.9 years |
| 14 kW | $3.39 | $33,210 | $37,953 | 11.7 years |
| 16 kW | $3.32 | $37,164 | $44,165 | 11.4 years |
| 18 kW | $3.25 | $40,920 | $50,575 | 11.2 years |
| 20 kW | $3.18 | $44,478 | $57,183 | 10.9 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Margate City, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 Margate City, NJ Solar Cost FAQs
How much does it cost to install solar panels in Margate City?
The average cost of solar panels in Margate City 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.
Are solar panels free in Margate City?
Solar panels aren’t free in Margate City, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can solar panels significantly reduce my power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Margate City, 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 check with a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.