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

  • Smithville Solar Installation Cost: $11,064
  • 25-Year Savings: $14,078
  • Payback Period: 12.2 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

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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 Smithville

Find out what the average cost of solar panel installation is in Smithville.

The national average cost of solar panels is $2.66 per watt, but in Smithville it’s 4 per watt.To cover the typical energy needs of the average home in Smithville, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs about $11,064, or $15,822 before the federal solar tax credit of 0 is applied.

The true cost of your system can go above or below the average in Smithville based on several factors, such as the type of solar panels you choose and the solar contractor you hire.Many homeowners find installing a solar system is a solid investment. The average homeowner in Smithville can save about $19,000 on their electricity bills over 20 years.

Click the button below to get connected to a top solar panel company in your area for a customized estimate.

Solar savings over time in Smithville

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 Smithville

Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Using an installer can make converting to solar power much easier. Another great thing about choosing a reputable solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.

Working with a professional 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 Smithville

Factors that Affect Solar Panel Costs in Smithville

For many Smithville homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Smithville, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.

Solar Equipment

The size of the solar energy system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,530. The brand of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are available from most installers in Smithville, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.

Solar Panel Installation Company

The solar installer you opt for to handle your switch to green energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Smithville, and each can charge varying amounts for labor and equipment.Additionally, some companies in Smithville are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.

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 available in Smithville, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:

  • Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
  • Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
  • Contract: Though reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
  • Reputation: Your solar installer should have a sound 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 positive reviews from previous customers.

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 Smithville, NJ Solar Cost FAQs

How much does it cost to install solar panels in Smithville?

The average cost of solar panels in Smithville 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 like the model of solar panels you want, what size system you need and how much energy you use.

Is it better to lease or buy solar panels in Smithville?

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 savings from going solar.

How much can I save on electricity bills after installing solar panels?

Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,016.61 per year.

How long do solar panels last in Smithville?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.

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.

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