Solar Panel Cost Guide in Woodbury, NJ (2024 Update)
- Woodbury Solar Installation Cost: $11,485
- 25-Year Savings: $11,293
- Payback Period: 14.1 Years
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Average Cost of Solar Panels in Woodbury
Let’s have a look at the average cost of solar in Woodbury.
The average cost of a solar panel system in Woodbury is 4 per watt.The average solar panel system size in Woodbury is around 4.6 kilowatts, meaning a cost of about $11,485 for a solar installation, or $16,424 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Woodbury homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With typical savings of about $17,000 on power bills over 20 years, many homeowners in Woodbury find investing in solar can be quite rewarding.
To get a free quote from a vetted solar installation company in Woodbury, you can click the button below.
Solar savings over time in Woodbury
| Year | Return on Investment |
|---|---|
| 1 years | $-9,987 |
| 3 years | $-6,990 |
| 5 years | $-3,994 |
| 7 years | $-998 |
| 9 years | $1,999 |
| 11 years | $4,995 |
| 13 years | $7,992 |
| 15 years | $10,988 |
| 17 years | $13,984 |
| 19 years | $16,981 |
| 21 years | $19,977 |
| 23 years | $22,973 |
| 25 years | $25,970 |
Top Solar Installers in Woodbury
When switching to solar energy, many homeowners opt to hire a solar installer since putting up a solar system yourself can be a difficult project. Also, if you’d like to maximize your investment in solar energy, opting for a solar installer can help with that as well. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives and net metering programs.
If you're searching for a solar company in Woodbury, the EcoWatch team has compiled a list of our top suggestions here:
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 Woodbury
Factors that Affect Solar Panel Costs in Woodbury
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Woodbury: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,530. The kind of solar panels and equipment you get is another factor that will substantially affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Further, 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
Most solar companies in Woodbury have solar loans, which reduce the initial cost of installing solar panels.However, the interest on solar loans also adds to your total costs, so it’s important 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 figure out the cost of solar for your home or business in Woodbury is the company you hire to install your PV system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that offer a range of services for different budgets.The company’s size sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of 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 discount can bring their pricing down 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 | $10,794 | 14.7 years |
| 8 kW | $3.60 | $20,163 | $14,787 | 14.4 years |
| 10 kW | $3.53 | $24,710 | $18,978 | 14.1 years |
| 12 kW | $3.46 | $29,059 | $23,366 | 13.9 years |
| 14 kW | $3.39 | $33,210 | $27,953 | 13.6 years |
| 16 kW | $3.32 | $37,164 | $32,737 | 13.3 years |
| 18 kW | $3.25 | $40,920 | $37,718 | 13.0 years |
| 20 kW | $3.18 | $44,478 | $42,898 | 12.7 years |
How to Save on Solar Panels
There are many companies available in Woodbury, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
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 Woodbury, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Woodbury?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally 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 above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Woodbury?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Is it worth going solar in Woodbury?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.