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How Much Does Solar Cost in New Jersey?

By July 2, 2020 No Comments

Solar Energy varies in costs depending on which state you reside in. In New Jersey, solar power has become a huge part of our future. The governor has created a goal to have 100% clean renewable energy by the year 2050. What this means is that there has been rapid growth in the solar industry. For some, solar power is a foreign language. Because of this, we want to make sure that you full understand the benefits and cost of solar power to help with your final decision to install solar for your home.

  1. How To Calculate the Size of Your System

At Vision Solar, we have an entire crew dedicated to mapping out your system prior to installation. Our team uses satellite images and mapping to create a system that fits perfectly on your roof and is big enough to power your home. The amount of power and panels that you need is determined by your past electric bills. Using your past electric bills, we then take into consideration the amount of kW/h that you are using in order to determine how many panels are needed to successfully power your home.

  1. Pricing of Your Panels

The pricing of your panels is dependent on your state and the amount of panels that you need. With this, there is a difference in price when you lease your panels or when you buy your panels outright. The average cost per kWh on a purchased solar system is $2.82 per watt. However, if your system is instead leased, then you should expect to pay around $3.02 per watt. This is based on a 5kw system. Without a solar panel system, then you are paying about $3.40 per watt.  The average outright cost of a 5kw system is about $10,434 with your federal tax credit. This translates to an average of 28-34 panels on your home. With this amount of panels, you are guaranteed to have enough energy to not only power your home, but also to earn the money back through the energy that you generate but do not use. The pricing of your panels is all dependent on many different variables that are customized to your home. At Vision Solar we will make sure to guide you through this pricing process every step of the way.

  1. Payment Options

You have many different options when deciding how to pay for your solar panel system in New Jersey. Your options include a lease program, solar loan, or buying your system outright. When buying your system you also can receive tax exemptions and tax credits. This helps you to earn back the money that you spent on the installation costs and also save money on extra property taxes. When you buy your solar panel system your property taxes will not increase regardless of the value of your home increasing.

  1. Savings

The most important part about the cost of your solar panels in New Jersey is the amount of savings that you will earn. The average home can save upwards of 20% on their monthly electric bill when they switch to solar power. Not only this, but with net metering, you are capable of letting your panels pay for themselves through all of the excess energy you are not using throughout the day. Your electric bill will be one fixed rate rather than a fluctuating number that you have to prepare for each month. With your huge amount of savings that come from your switch you can afford to focus on those home projects that you have always dreamt of.

 

If you want to get started on your maintenance free, panel installation please Contact Us.

 

Source:

https://www.solar-estimate.org/solar-panels/new-jersey?aff=4713&cam=45&gclid=EAIaIQobChMIuN_jnNiu6gIVUPDACh1HiQr-EAAYASAAEgIw8_D_BwE