Solar Panel Cost Guide in Cherry Hill, VA (2024 Update)
- Cherry Hill Solar Installation Cost: $20,044
- 25-Year Savings: $19,930
- Payback Period: 13.6 Years
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Average Cost of Solar Panels in Cherry Hill
We go over average solar pricing in Cherry Hill.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cherry Hill, the average cost of solar panels is 4 per watt.To cover the typical energy needs of the average home in Cherry Hill, most homeowners require a 8.0-kilowatt system. Using the figure above, a solar installation costs about $20,044, or $28,663 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of making the switch to solar can vary depending on several factors, such as how many panels you need, your energy usage and what installation company you go with.Even with the significant initial cost, the average Cherry Hill homeowner can save about $18,000 on their energy bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a pre-vetted solar installer in Cherry Hill for a quote for your home.
Solar savings over time in Cherry Hill
| Year | Return on Investment |
|---|---|
| 1 years | $-18,445 |
| 3 years | $-15,247 |
| 5 years | $-12,049 |
| 7 years | $-8,851 |
| 9 years | $-5,653 |
| 11 years | $-2,455 |
| 13 years | $743 |
| 15 years | $3,941 |
| 17 years | $7,138 |
| 19 years | $10,336 |
| 21 years | $13,534 |
| 23 years | $16,732 |
| 25 years | $19,930 |
Top Solar Installers in Cherry Hill
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Hiring an installer can make swapping over to solar power much easier. The payback period on a solar system will vary based on factors like your roof configuration and energy consumption, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you apply for incentives available in your area.
If you’d like to switch to solar energy but still aren’t certain which solar company to go with, here are our suggestions for providers near you:
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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Cherry Hill
Factors that Affect Solar Panel Costs in Cherry Hill
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that determine your overall cost in Cherry Hill: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar system in Cherry Hill, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $3,590 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Cherry Hill, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Cherry Hill to be too expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in a higher cost over time due to interest.Although solar loans make adopting solar energy more accessible for Cherry Hill homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Cherry Hill is the company you get to install your solar panel system. As with choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide a range of services at different costs.The company’s size sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and better 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 lower to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.73 | $15,681 | $12,002 | 14.2 years |
| 8 kW | $3.66 | $20,506 | $16,405 | 13.9 years |
| 10 kW | $3.59 | $25,130 | $21,009 | 13.6 years |
| 12 kW | $3.52 | $29,553 | $25,814 | 13.3 years |
| 14 kW | $3.45 | $33,775 | $30,819 | 13.1 years |
| 16 kW | $3.37 | $37,796 | $36,026 | 12.8 years |
| 18 kW | $3.30 | $41,615 | $41,434 | 12.5 years |
| 20 kW | $3.23 | $45,234 | $47,043 | 12.3 years |
How to Save on Solar Panels
The solar company you go with will affect 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 some important things you should keep in mind, including:
- Solar Panel Brands: Different companies offer various brands and models of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
- Installation Process: When making the switch to solar, it’s crucial to keep an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project completion timeline.
- Warranty: Many companies 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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Cherry Hill, VA Solar Cost FAQs
How much does it cost to install solar panels in Cherry Hill?
The average cost of solar panels in Cherry Hill is about $17,950 for a 5-kW system and $35,900 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.
Can you get solar panels for free in Cherry Hill?
You can’t get solar panels for free in Cherry Hill. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located 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 $922.77 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.