Solar Installation Costs in New Jersey: A 2023 Comprehensive Guide

Embracing the Sun: New Jersey's Solar Potential

New Jersey isn't just about beautiful beaches; it's also a leader in solar energy. Ranking eighth in the U.S. for solar production, the Garden State is a shining example of renewable energy. But what's the real deal with solar panel installation costs? PowerLutions Solar is here to demystify the numbers.

Solar Panel Costs in New Jersey: A Detailed Breakdown

If you're a homeowner in New Jersey, listen up! A 7-kW solar system might be your pathway to significant savings. You may be asking yourself “what does it cost to install solar panels in New Jersey?”  Although PowerLutions Solar is usually able to offer below average costs, the average solar installation cost in NJ is around $2.75 per watt, making the total cost for a 7-kW system $19,250, or $13,475 after the Federal Income tax credits (more on that later).

Here's a closer look at the numbers:

• 7 kW: $19,250 before credits, $13,475 after credits
• 8 kW: $22,000 before credits, $15,400 after credits
• 9 kW: $24,750 before credits, $17,325 after credits
• 10 kW: $27,500 before credits, $19,250 after credits

Factors Influencing Solar Panel Costs in New Jersey

Solar panel installation costs are not uniform; several factors come into play:

• Equipment: The type of solar panels and inverters can vary.   A solar inverter is a device that converts the direct current (DC) electricity produced by solar panels into alternating current (AC) electricity that can be used in your home.
• Installation Types: Whether it's roof mounts or ground mounts, choices abound.
• Roof Considerations: The type of roof you have can affect the installation cost.
• Solar Panel Types: Need higher efficiency panels? They might cost more, but they could be worth it.

New Jersey's Solar Incentives: Making Solar Affordable

New Jersey is committed to helping homeowners reduce solar panel installation costs through various incentives:

• Federal Income Tax Credit: Yeah, I know, it’s Federal.  You get a 30% federal income tax credit off the cost of the solar PV system.
• Property Tax Exemption: Boost property value without boosting taxes. A win-win!
• Successor Solar Incentive (SuSI): Earn, sell, and savor the savings. It's as easy as that.  The Successor Solar Incentive (SuSI) Program in New Jersey provides incentives to eligible solar facilities, with one SuSI [as in (Miss) Susie (Had a Steamboat)] created for every 1,000 kWh of solar energy a system produces, and homeowners earning $85 per “Susie” they generate for 15 years.

PowerLutions Solar: Quality Service at Competitive Prices

PowerLutions Solar makes understanding solar panel installation costs a breeze. Offering top-notch service at often below-average prices, they focus on real savings, not empty promises. Ready to harness the sun without emptying your wallet? PowerLutions Solar is ready to help.