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

  • Palmyra Solar Installation Cost: $11,389
  • 25-Year Savings: $8,913
  • Payback Period: 16.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

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 Palmyra

Here’s how much it might cost to make the switch to solar in Palmyra.

The national average cost of solar panels is $2.66 per watt, but in Palmyra it’s 4 per watt.The average Palmyra homeowner needs a 4.6-kilowatt system, which would cost about $11,389 with the federal tax credit, or $16,286 before the 0 tax credit is applied.

Bear in mind that the figures above are only estimates based on the average Palmyra homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Despite the high upfront cost, the average Palmyra homeowner can save about $15,000 on their energy bills over 20 years, which is one of the advantages of solar.

To receive a free quote from a vetted solar installation company in Palmyra, you can click the button below.

Solar savings over time in Palmyra

Year Return on Investment
1 years $-9,967
3 years $-7,122
5 years $-4,278
7 years $-1,433
9 years $1,412
11 years $4,257
13 years $7,101
15 years $9,946
17 years $12,791
19 years $15,636
21 years $18,480
23 years $21,325
25 years $24,170

Top Solar Installers in Palmyra

Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Using a solar company can make your switch to solar power much easier. Another great thing about going with a reputable solar installer is that it'll provide warranties and free repairs, which help protect your solar system over time.

Working with a vetted solar installer can make going solar easier. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
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 Palmyra

Factors that Affect Solar Panel Costs in Palmyra

While the average cost of a solar system in Palmyra is $11,389, 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 consider.

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,530.The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Most solar installers in Palmyra provide solar loans, which reduce your upfront costs of installing a solar system.Although solar loans make adopting solar energy more accessible for Palmyra homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

The last significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Palmyra, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.

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

There are a large number of companies to choose from in Palmyra, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:

  • Solar Panel Brands: The model of solar panel you need to install plays a part in which installer you should opt for, since different companies have different panels.
  • Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of 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.
  • Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
  • Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
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 Palmyra, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Palmyra?

This is a tough question to answer exactly, because the cost depends on many 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 be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

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

The initial cost is a key factor to consider, but whether it’s the most important for you depends on your goals 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.

Is it worth going solar in Palmyra?

Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably low, solar panels might not be for you.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can 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.

Follow us