Solar Panel Cost Guide in Oceanport, NJ (2024 Update)
- Oceanport Solar Installation Cost: $11,170
- 25-Year Savings: $7,419
- Payback Period: 17.3 Years
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Average Cost of Solar Panels in Oceanport
We break down average solar pricing in Oceanport.
In Oceanport, solar panels cost about 4 per watt on average.Because a 4.5-kW system is needed to cover the energy consumption of a typical home in Oceanport, the average price of going solar will be about $11,170 after claiming the federal solar tax credit of 0.
The true price you pay can go higher or lower than the average in Oceanport depending on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire.But, after you've paid the upfront cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $14,000 over 20 years on utility bills.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Oceanport
| Year | Return on Investment |
|---|---|
| 1 years | $-10,111 |
| 3 years | $-7,992 |
| 5 years | $-5,874 |
| 7 years | $-3,755 |
| 9 years | $-1,637 |
| 11 years | $481 |
| 13 years | $2,600 |
| 15 years | $4,718 |
| 17 years | $6,837 |
| 19 years | $8,955 |
| 21 years | $11,073 |
| 23 years | $13,192 |
| 25 years | $15,310 |
Top Solar Installers in Oceanport
Many homeowners choose to use a solar installation company since installing solar panels yourself can be challenging. Also, if you’d like to maximize your investment in solar, using a solar installer can help with that too. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives and net metering programs.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some near you:
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 Oceanport
Factors that Affect Solar Panel Costs in Oceanport
For many Oceanport homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Oceanport, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,530. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. In addition, add-on products, like solar batteries, can bump up your total well above the Oceanport average.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a popular route because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.When figuring 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 lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Oceanport is the company you get to install your PV system. As with choosing a company to renovate your kitchen, for instance, there’s no shortage of solar installers that provide a range of services at different costs.The size of the company sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion 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 | $6,062 | 17.9 years |
| 8 kW | $3.60 | $20,163 | $8,478 | 17.6 years |
| 10 kW | $3.53 | $24,710 | $11,092 | 17.3 years |
| 12 kW | $3.46 | $29,059 | $13,903 | 16.9 years |
| 14 kW | $3.39 | $33,210 | $16,912 | 16.6 years |
| 16 kW | $3.32 | $37,164 | $20,119 | 16.2 years |
| 18 kW | $3.25 | $40,920 | $23,524 | 15.9 years |
| 20 kW | $3.18 | $44,478 | $27,126 | 15.5 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Contract: When looking through your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one indication of a good company.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
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 Oceanport, NJ Solar Cost FAQs
How much does it cost to install solar panels in Oceanport?
This is a tough question to answer precisely, 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How much can I save on energy bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Oceanport, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much 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 get between 20 and 35 panels to account for 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.