Solar Panel Cost Guide in Wildwood, NJ (2024 Update)
- Wildwood Solar Installation Cost: $10,458
- 25-Year Savings: $14,554
- Payback Period: 11.5 Years
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Average Cost of Solar Panels in Wildwood
Find out what the average cost of installing solar panels is in Wildwood.
In Wildwood, solar panels cost about 4 per watt on average.Using this figure, a typical 4.2-kW system would cost about $10,458 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 panel system could cost. The actual cost of going solar can vary based on several factors, such as how many panels you need, your energy usage and what installation company you go with.Even with the significant upfront cost, the average Wildwood homeowner can save about $20,000 on their power bills over 20 years, which is one of the advantages of solar.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Wildwood
| Year | Return on Investment |
|---|---|
| 1 years | $-8,960 |
| 3 years | $-5,964 |
| 5 years | $-2,967 |
| 7 years | $29 |
| 9 years | $3,025 |
| 11 years | $6,022 |
| 13 years | $9,018 |
| 15 years | $12,015 |
| 17 years | $15,011 |
| 19 years | $18,007 |
| 21 years | $21,004 |
| 23 years | $24,000 |
| 25 years | $26,996 |
Top Solar Installers in Wildwood
When switching to solar energy, many homeowners prefer to go with a solar company since putting up solar panels yourself can be a difficult project. Another great thing about using a vetted solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.
If you're looking for a solar installer in Wildwood, we've compiled a list of our top suggestions here:
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 Wildwood
Factors that Affect Solar Panel Costs in Wildwood
The cost of installing a solar system in Wildwood can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
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 kind of solar equipment you choose can bring your price up or down 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. However, higher efficiency could save you more in the long run on your electric bills. Additionally, extra products, such as solar batteries, can bring your total well above the Wildwood average.
Solar Financing Terms
Most solar companies in Wildwood have solar loans, which reduce the initial cost of installing solar.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Wildwood is the company you choose to install your PV system. Similar to choosing a company to build a deck or pool, for instance, there’s no shortage of solar installers that offer a range of services for different budgets.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk prices, 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 | $16,847 | 11.9 years |
| 8 kW | $3.60 | $20,163 | $22,858 | 11.7 years |
| 10 kW | $3.53 | $24,710 | $29,067 | 11.5 years |
| 12 kW | $3.46 | $29,059 | $35,474 | 11.3 years |
| 14 kW | $3.39 | $33,210 | $42,078 | 11.0 years |
| 16 kW | $3.32 | $37,164 | $48,880 | 10.8 years |
| 18 kW | $3.25 | $40,920 | $55,879 | 10.6 years |
| 20 kW | $3.18 | $44,478 | $63,076 | 10.3 years |
How to Save on Solar Panels
The solar installer you go with will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, including:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: The type of solar panel you want to get plays a role in which installer you should opt for, since different companies have access to different panels.
- Contract: When looking through your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Installation Process: When going solar, it’s important to maintain an open line of communication with your solar installer. See to it that you understand how the installation process works and the project 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 Wildwood, NJ Solar Cost FAQs
How much does it cost to install solar panels in Wildwood?
This is a tough 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Wildwood?
Solar panels can be a good investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Wildwood?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using them at a lower efficiency.
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.