New Jersey Solar Panel Installation Cost

A critical calculation for potential solar buyers is the solar payback period.

New jersey solar panel installation cost.

Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. As of september 2020 the average solar panel cost in new jersey is 2 88 w given a solar panel system size of 5 kilowatts kw an average solar installation in new jersey ranges in cost from 12 240 to 16 560 with the average gross price for solar in new jersey coming in at 14 400 after accounting for the 26 federal investment tax credit itc and other state and local solar incentives. Solar panel cost in new jersey.

In the state of new jersey the average cost of solar panel installation ranges from 12 240 to 16 560. Solar installation costs in nj are generally between 12k 15k after rebates and tax credits. Keep reading for all the nitty gritty details on solar panel costs in new jersey and for all the tips and tricks to get the best deal possible. The cost of solar panels in new jersey for the average sized 7 2 kw solar panel system in new jersey the cost comes out to about 3 20 per watt or 23 040 before incentives.

The average home in new jersey needs a 7 2 kw solar panel system to meet its energy needs. The solar payback period tells the customer the. This is 2 77 per watt. The average cost for an installed residential solar system in new jersey is currently 12 277 after claiming the 26 federal solar tax credit.