Considering solar panel installation in Cherry Hill, NJ? Expect to invest between $15,000 and $17,000 for a typical 7kW-8kW system after the 30% federal tax credit and initial SREC-II benefits. This price range varies depending on factors like the complexity of your roof, the quality of the panels, and the installer you choose. For a complete New Jersey Solar Energy guide, read our in-depth article.
System Options & Costs
| System Size (kW) | Typical Home Size (sq ft) | Estimated Cost (After Federal Tax Credit & Initial SREC-II) | Typical Annual Savings |
|---|---|---|---|
| 5kW | 1,000 – 1,500 | $10,000 – $12,000 | $750 – $1,100 |
| 7kW | 1,500 – 2,000 | $15,000 – $17,000 | $1,050 – $1,540 |
| 10kW | 2,000 – 2,500+ | $20,000 – $24,000 | $1,500 – $2,200 |
Local Factors
Navigating the solar panel installation process in Cherry Hill involves understanding local regulations. Permits are required in Camden County, and your installer will typically handle the application process. Expect the permit process to take several weeks. Installation labor rates in the Cherry Hill area are competitive, but it’s crucial to get multiple quotes to ensure you’re getting a fair price. Verify the contractor’s license at New Jersey Board of Public Utilities (NJBPU).
One of New Jersey’s “secret weapons” is the **SuSI (SREC-II) program**. This offers significant financial incentives to homeowners who install solar panels. For every 1,000 kWh (1 MWh) your system generates, you earn approximately $85 for a period of 15 years. This is guaranteed cash income on top of your electricity savings!
Beyond SuSI, remember these other key incentives:
- 100% Sales Tax Exemption: Enjoy an instant discount as solar equipment is 100% exempt from New Jersey’s 6.625% sales tax.
- Property Tax Exemption: Your property taxes will NOT increase due to the added value of solar panels.
- Net Metering (1:1): PSEG, JCP&L, and Atlantic City Electric offer full retail credit for any excess energy you send back to the grid. This means you’re compensated at the same rate you pay for electricity.
- High Electricity Rates: New Jersey has some of the highest electricity rates in the country. Solar allows you to “lock in” a lower rate for 25+ years, shielding you from future price hikes.
Weather Impact
Cherry Hill benefits from ample sunlight throughout the year, with over 200 sunny days. This makes solar panel installation highly effective, even considering New Jersey’s location in the Northeast. While solar production is highest during the summer months, modern solar panels are designed to generate electricity even on cloudy days. Snowfall can temporarily reduce production, but the panels typically clear themselves quickly.
FAQ
- How long does solar panel installation take in Cherry Hill?
Installation typically takes 1-3 days, but the entire process, including permitting, can take 4-8 weeks. - What happens if I produce more electricity than I use?
With net metering, PSEG, JCP&L or Atlantic City Electric will credit your account for the excess electricity you send back to the grid. - How do I find a reputable solar panel installer in Cherry Hill?
Get multiple quotes, check online reviews, and verify their license with the New Jersey Board of Public Utilities (NJBPU).