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Cost to install 12kw solar panels nj. How much does a 12kw solar system cost. As of september 2020 the average solar panel cost in new jersey is 2 88 w. That means that the total cost for a 12kw solar system would be 25 841 after the 20 federal itc discount not factoring in any additional state rebates or incentives. Is 2 91 per watt 34 920 for a 12 kilowatt system.
The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. 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. Solar panel cost data 2020 updated. Solar power systems are very custom based on the home roof type shading and utility.
Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8 years. Installation of panels for the average 5kw system ranges from 11 100 22 400. The average home in new jersey needs a 7 2 kw solar panel system to meet its energy needs.
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