Solar Panel Cost in Cherry Hill, NJ
Estimated costs and savings for ZIP code 08002 — updated for 2026
Urgent tax credit deadlines
- Section 48E phase-out completes December 31, 2027 — projects must be placed in service by then (469 days left).
Gross Cost
$20,650
7kW system
Annual Savings
$2,274
$190/month
Payback Period
9.1 yrs
Break-even
Peak Sun Hours
4.5
hrs/day avg
Solar System Cost Breakdown — Cherry Hill, NJ
Estimated costs and savings for different residential solar system sizes in ZIP 08002. Costs based on NJ average of $2.95/W and utility rate of $0.23/kWh.
| System | Cost | Savings/yr | Payback |
|---|---|---|---|
| 4 kW | $11,800 | $1,300 | 9.1 yrs |
| 5 kW | $14,750 | $1,624 | 9.1 yrs |
| 6 kW | $17,700 | $1,949 | 9.1 yrs |
| 7 kW(typical) | $20,650 | $2,274 | 9.1 yrs |
| 8 kW | $23,600 | $2,599 | 9.1 yrs |
| 10 kW | $29,500 | $3,249 | 9.1 yrs |
Solar Production in Cherry Hill, New Jersey
Average Peak Sun Hours
4.5 hours/day
Good solar resource — solid investment
Est. Annual Production (7kW)
9,773 kWh
Based on 4.5 PSH × 7kW × 365 days × 85% efficiency
Average Utility Rate
$0.23/kWh
High utility rates make solar especially valuable
Cost Per Watt in NJ
$2.95/W
Below national average — competitive market
Solar Panel FAQ — Cherry Hill, NJ
How much do solar panels cost in Cherry Hill, NJ?
A typical 7kW solar system in Cherry Hill, NJ (ZIP 08002) costs approximately $20,650 before any incentives. This works out to about $2.95 per watt installed. Smaller systems start around $11,800, while larger 10kW systems can cost up to $29,500.
How long is the solar payback period in Cherry Hill?
The average solar payback period in Cherry Hill, NJ is approximately 9.1 years for a 7kW system. With estimated annual savings of $2,274, the system pays for itself and then generates free electricity for the remaining 15-20+ years of its lifespan.
How much can I save with solar panels in 08002?
Homeowners in Cherry Hill, NJ (ZIP 08002) can save approximately $190 per month or $2,274 per year with a standard 7kW solar system. Over 25 years, total savings can exceed $56,850, depending on utility rate increases.
How many peak sun hours does Cherry Hill get?
Cherry Hill, NJ receives an average of 4.5 peak sun hours per day. This is near the national average, making solar a solid investment in this area.
What size solar system do I need for my home in Cherry Hill?
The average home in Cherry Hill, NJ needs a 7kW solar system to offset their electricity usage. The exact size depends on your monthly electric bill, roof orientation, and available space. A 7kW system would produce approximately 9,773 kWh annually in ZIP 08002.
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