Solar Panel Cost Guide in Southampton, NJ (2024 Update)
- Southampton Solar Installation Cost: $11,389
- 25-Year Savings: $9,994
- Payback Period: 15.0 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Southampton
Find out what the average cost of installing solar panels is in Southampton.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Southampton, the typical cost of a solar system is 4 per watt.The average solar panel system size in Southampton is around 4.6 kilowatts, meaning a cost of about $11,389 for a solar installation, or $16,286 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of going solar can vary quite a bit based on several factors, such as how many panels you need, your energy usage and what solar installer you go with.But, after you've paid the initial cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $16,000 over 20 years on energy bills.
To get a free quote from a vetted solar installation company in Southampton, you can click the button below.
Solar savings over time in Southampton
Year | Return on Investment |
---|---|
1 years | $-9,891 |
3 years | $-6,895 |
5 years | $-3,898 |
7 years | $-902 |
9 years | $2,094 |
11 years | $5,091 |
13 years | $8,087 |
15 years | $11,083 |
17 years | $14,080 |
19 years | $17,076 |
21 years | $20,073 |
23 years | $23,069 |
25 years | $26,065 |
Top Solar Installers in Southampton
When going solar, many homeowners opt to use a solar company since installing solar panels yourself can be a challenging project. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you’d like to start using solar energy but still aren’t certain which solar installer to go with, here are our suggestions for providers in Southampton:
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 Southampton
Factors that Affect Solar Panel Costs in Southampton
There are several criteria that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $3,530 per kilowatt in Southampton.The type of solar panels and equipment you choose is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to think 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 for a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Southampton homeowners opt to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also adds to your all-in costs, so it’s vital to include that in your estimate as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Southampton is the company you choose to install your solar system. Similar to choosing a company to build a deck or pool, for instance, there’s no shortage of solar installers that provide a range of services for different budgets.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $9,225 | 15.6 years |
8 kW | $3.60 | $20,163 | $12,695 | 15.3 years |
10 kW | $3.53 | $24,710 | $16,363 | 15.0 years |
12 kW | $3.46 | $29,059 | $20,229 | 14.7 years |
14 kW | $3.39 | $33,210 | $24,292 | 14.4 years |
16 kW | $3.32 | $37,164 | $28,553 | 14.1 years |
18 kW | $3.25 | $40,920 | $33,012 | 13.8 years |
20 kW | $3.18 | $44,478 | $37,669 | 13.5 years |
How to Save on Solar Panels
There are a lot of companies available in Southampton, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Solar Panel Brands: Different companies will carry different brands and types of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Contract: When looking through your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 Southampton, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Southampton?
The average cost of solar panels in Southampton 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 stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Southampton?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home 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 bang for your buck from going solar.
How much can I save on electricity bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Southampton, that will require at least a 10-kW system. Not all homes will have roofs that 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.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.