Solar Panel Cost Guide in McGuire AFB, NJ (2024 Update)
- McGuire AFB Solar Installation Cost: $11,389
- 25-Year Savings: $7,802
- Payback Period: 17.0 Years
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Average Cost of Solar Panels in McGuire AFB
Find out how much it might cost to switch to solar power in McGuire AFB.
While the national average of solar panels is $2.66 per watt, solar panels in McGuire AFB generally cost around 4.To account for the typical energy needs of the average home in McGuire AFB, most homeowners require a 4.6-kilowatt system. Using the figure above, a solar installation costs about $11,389, or $16,286 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average McGuire AFB homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Despite the high upfront cost, the average McGuire AFB homeowner can save about $14,000 on their energy bills over 20 years, which is one of the positives of solar.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in McGuire AFB
| Year | Return on Investment |
|---|---|
| 1 years | $-10,330 |
| 3 years | $-8,212 |
| 5 years | $-6,093 |
| 7 years | $-3,975 |
| 9 years | $-1,857 |
| 11 years | $262 |
| 13 years | $2,380 |
| 15 years | $4,499 |
| 17 years | $6,617 |
| 19 years | $8,735 |
| 21 years | $10,854 |
| 23 years | $12,972 |
| 25 years | $15,091 |
Top Solar Installers in McGuire AFB
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Taking advantage of an installer can make converting to solar power much easier. Another perk of using a solar company is that they can help you make the most of your return of investment by reducing your future costs of repairs and replacements due to warranties and helping you learn about local incentives you can take advantage of.
There are various 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 McGuire AFB
Factors that Affect Solar Panel Costs in McGuire AFB
While the average cost of a solar system in McGuire AFB is $11,389, your final cost may be above or below the average. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial 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 going solar. Because of that, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your electric bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the McGuire AFB average.
Solar Financing Terms
Most solar companies in McGuire AFB have solar loans, which reduce the initial cost of installing solar panels.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar company you choose to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout McGuire AFB, and each can charge varying amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $6,371 | 17.7 years |
| 8 kW | $3.60 | $20,163 | $8,890 | 17.4 years |
| 10 kW | $3.53 | $24,710 | $11,607 | 17.0 years |
| 12 kW | $3.46 | $29,059 | $14,521 | 16.7 years |
| 14 kW | $3.39 | $33,210 | $17,633 | 16.3 years |
| 16 kW | $3.32 | $37,164 | $20,943 | 16.0 years |
| 18 kW | $3.25 | $40,920 | $24,451 | 15.6 years |
| 20 kW | $3.18 | $44,478 | $28,156 | 15.3 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose significantly affects your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one sign of a quality company.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the project completion timeline.
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 McGuire AFB, NJ Solar Cost FAQs
What is the average cost of installing solar panels in McGuire AFB?
This is a hard question to answer exactly, because the cost depends on a few different 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 cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in McGuire AFB?
Leasing solar panels can be an option if you are unable to 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.
How will having solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in McGuire AFB is currently $389,832, so you could be looking at a value of about $15,983 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in McGuire AFB is a rewarding investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily 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.