Solar Panel Cost in Lakewood, NJ
Updated 2026 guide to solar panel prices, savings, and payback period in Lakewood.
Estimated Solar Savings
Solar Panel System Costs in Lakewood, NJ
Below are estimated costs for different solar panel system sizes in Lakewood, including the 30% federal solar tax credit.
| System Size | Cost Before Incentives | Federal Tax Credit (30%) | Net Cost | Est. Annual Production |
|---|---|---|---|---|
| 4 kW | $11,800 | -$3,540 | $8,260 | 5,840 kWh |
| 6 kWMost Popular | $17,700 | -$5,310 | $12,390 | 8,760 kWh |
| 8 kW | $23,600 | -$7,080 | $16,520 | 11,680 kWh |
| 10 kW | $29,500 | -$8,850 | $20,650 | 14,600 kWh |
| 12 kW | $35,400 | -$10,620 | $24,780 | 17,520 kWh |
What Affects Solar Panel Cost in Lakewood?
The average cost of solar panels in Lakewood, NJ is approximately $295/watt before incentives. For a typical 6kW residential system, that means a total cost of about $17,700 before the federal tax credit.
After applying the 30% federal Investment Tax Credit (ITC), your net cost drops to approximately $12,390.Lakewood homeowners typically see a payback period of 6 years and save an estimated $40,000 over 25 years.
Factors that affect your cost in Lakewood:
- System size: Larger systems cost more but have a lower cost per watt
- Equipment quality: Premium panels and inverters cost more but offer better efficiency
- Roof complexity: Steep roofs, multiple levels, or shading can increase installation costs
- Local labor rates: Installation costs vary within the Lakewood metro area
- Local permits: Permitting costs and requirements vary by municipality in Lakewood
- Incentives: State and local programs can significantly reduce your out-of-pocket cost
Solar Incentives Available in Lakewood
Federal Solar Investment Tax Credit
30% Federal Tax Credit (ITC)
New Jersey homeowners can stack the 30% federal ITC with the state's excellent SREC-II program for one of the best solar incentive packages in the nation.
State & Local Incentives
Successor Solar Incentive (SuSI) Program / SREC-II
SRECNew Jersey's SREC-II program provides fixed incentive payments for residential solar production over 15 years.
Sales Tax Exemption
Sales TaxSolar energy systems are exempt from New Jersey's 6.625% sales tax.
Property Tax Exemption
Property TaxNew Jersey law prohibits municipalities from increasing property tax assessments due to solar installations.
Net Metering
New Jersey offers net metering at the full retail rate for residential solar systems. Excess credits roll forward monthly and are trued up annually.
AvailableSRECs
New Jersey's SREC-II (Successor Solar Incentive) program provides one of the most valuable solar incentives in the country. Residential systems earn fixed payments per MWh over 15 years.
Est. Value: $85-$100 per SREC-II
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Top Solar Companies in Lakewood, NJ
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Solar Panel Cost FAQ - Lakewood, NJ
The average cost of solar panels in Lakewood is approximately $2.95 per watt before incentives. A typical 6kW residential system costs about $17,700 before the 30% federal tax credit, bringing the net cost to around $12,390.
The typical payback period for solar panels in Lakewood is approximately 6 years. After that, you'll enjoy free electricity for the remaining 15-20+ years of your system's life, saving an estimated $40,000 over 25 years.
Lakewood homeowners can take advantage of the 30% federal solar tax credit, which reduces your system cost by 30%. New Jersey also offers net metering, SRECs, and various state-level incentive programs. Check our incentives page for the complete list.
Lakewood homeowners can save an estimated $40,000 over 25 years by going solar. Actual savings depend on your electricity usage, system size, roof orientation, and available incentives. With electricity rates averaging $0.17/kWh in New Jersey, solar provides significant long-term savings.
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