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.
Keep in mind that the figures above are only estimates based on the average Woodbury homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find adopting solar power is a sound investment. The average homeowner in Woodbury can save about $17,000 on their energy bills over 20 years.
To get a free estimate from a highly rated solar 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
Many homeowners decide to hire a solar panel installer since trying to install solar panels on your own can be time-consuming. Another perk of going with a solar company is that they can help you make the most of your investment by reducing your future costs of repairs and replacements with the help of warranties and helping you learn about local incentives you can take advantage of.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in Woodbury:
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 Woodbury
Factors that Affect Solar Panel Costs in Woodbury
The cost of installing a solar system in Woodbury can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,530. The brand of solar panels and equipment you get is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for 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.However, the interest on solar loans also adds to your all-in costs, so it’s crucial to consider that as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Woodbury is the company you hire to install your solar panel system. As with choosing a company to renovate your kitchen, for example, you’ll have no shortage of solar installers that provide a range of services at different costs.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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
The solar company you choose will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, such as:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: Different companies will carry different brands and models of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Warranty: If you care about the longevity of your solar system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Although reading through a contract can be tedious, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 Woodbury, NJ Solar Cost FAQs
How much does it cost to install solar panels in Woodbury?
The average cost of solar panels in Woodbury 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Woodbury?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The downside 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 option if you want to maximize your savings.
Is it worth going solar in Woodbury?
Solar panels can be a great investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out what solar panel system size 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 usually 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.