Considering solar panel installation in Moorestown, New Jersey? The typical cost for a professionally installed 7kW-8kW solar system ranges from $15,000 to $17,000 after factoring in the 30% federal tax credit and initial benefits from New Jersey’s SuSI program. This price varies depending on factors such as the size of your home, energy consumption, the type of solar panels chosen, and the complexity of the installation. To learn more about state-specific regulations and incentives, refer to this complete New Jersey Solar Energy guide.
System Options & Costs
| System Size (kW) | Typical Home Size (sq ft) | Average Cost (After Federal Tax Credit & Initial SuSI) | Estimated Annual Savings |
|---|---|---|---|
| 5 kW | 1,000 – 1,500 | $10,000 – $12,000 | $750 – $1,000 |
| 7 kW | 1,500 – 2,000 | $14,000 – $16,800 | $1,050 – $1,400 |
| 8 kW | 2,000 – 2,500 | $16,000 – $19,200 | $1,200 – $1,600 |
| 10 kW | 2,500 – 3,000+ | $20,000 – $24,000 | $1,500 – $2,000 |
Local Factors
Navigating the local landscape in Moorestown requires understanding Burlington County’s permitting processes. Ensure your chosen contractor is familiar with these regulations to avoid delays. Typical installation labor rates in Moorestown and the surrounding areas range from $75 to $120 per hour, depending on the complexity of the project and the experience of the installers. Always verify your contractor’s license at New Jersey Board of Public Utilities (NJBPU).
Furthermore, residents in Moorestown benefit significantly from several New Jersey-specific solar incentives:
- SuSI Program (SREC-II): New Jersey’s “secret weapon” is the Successor Solar Incentive (SuSI) program, or SREC-II. Homeowners earn approximately $85 for every 1,000 kWh (1 MWh) your system produces for 15 years. This is guaranteed cash income, significantly reducing the payback period of your solar investment.
- 100% Sales Tax Exemption: All solar equipment is 100% exempt from New Jersey’s 6.625% sales tax. This provides an instant discount at the time of purchase.
- Property Tax Exemption: Installing solar panels will *not* increase your property taxes in New Jersey, despite adding significant value to your home.
- Net Metering (1:1): PSEG (Public Service Electric and Gas), which services Moorestown, offers full retail credit for any excess energy your solar panels send back to the grid through net metering. This means you get credited the full price you would normally pay for electricity.
- High Electricity Rates: New Jersey residents pay well above the national average for electricity. Investing in solar locks in a low, predictable energy rate for 25+ years, shielding you from future rate hikes.
Weather Impact
Moorestown enjoys ample sunlight throughout the year, boasting over 200 sunny days. This makes solar panel installation highly effective for solar generation, even in the Northeast. While winter months may see slightly reduced production, the overall annual solar irradiance is sufficient to provide significant energy savings and a strong return on investment. Consider panel orientation and tilt angle to maximize sunlight capture throughout the year. A south-facing array is generally optimal in New Jersey.
FAQ
- How long does solar panel installation typically take in Moorestown?
The installation process usually takes between 1-3 days, depending on the system size and roof complexity. However, permitting and inspection processes can add several weeks to the overall timeline.
- What happens if my solar panels produce more electricity than I need?
Thanks to net metering policies in New Jersey, excess energy is sent back to the grid, and you’ll receive credit on your electricity bill from PSEG. This credit helps offset future electricity costs.
- How do I find a reputable solar panel installer in Moorestown?
Start by getting multiple quotes from different installers. Check online reviews and verify their licensing and insurance through the New Jersey Board of Public Utilities (NJBPU) website. Ask for references and examples of their previous work in the area.