Solar Panel Cost Guide in East Hanover, NJ (Nov 2022)

  • East Hanover Solar Installation Cost: $9,268
  • 25-Year Savings: $7,749
  • Payback Period: 13.6 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in East Hanover

Find out what the average cost of solar panel installation is in East Hanover.

Currently, the national average cost of solar panels is $2.66 per watt. However, in East Hanover, the average cost of solar panels is $3 per watt. The average solar panel system size in East Hanover is around 4.8 kilowatts, meaning a cost of about $9,268 for a solar installation, or $6,858 after the 30% federal solar tax credit is applied.

Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy use, the type of solar panels you want, your solar contractor and more. Many homeowners find installing solar panels is a sound investment. The average homeowner in East Hanover can save about $14,000 on their power bills over 20 years.

To receive a free estimate from a pre-vetted solar installation company in East Hanover, you can click the button below.

Solar savings over time in East Hanover

Year Return on Investment
1 years $-8,588
3 years $-7,226
5 years $-5,865
7 years $-4,504
9 years $-3,142
11 years $-1,781
13 years $-420
15 years $942
17 years $2,303
19 years $3,664
21 years $5,026
23 years $6,387
25 years $7,749

Top Solar Installers in East Hanover

Many homeowners choose to hire a solar panel installer since trying to install solar panels by yourself can be time-consuming. Companies can also offer access to various kinds of the best solar panels and help you decide which one will be right for you.

There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

See all of the solar companies in East Hanover

Factors that Affect Solar Panel Costs in East Hanover

The cost of installing a solar system in East Hanover can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.

Solar Equipment

The size of the solar system you need is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,770. There are several different solar panel brands and the one you pick also changes the cost. Usually, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many East Hanover homeowners decide to finance their solar panel systems to make going solar more affordable. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.

Solar Panel Installation Company

The solar company you choose to handle your switch to clean energy can play a role in your total costs. There are about 3 solar panel companies operating throughout East Hanover, and each can charge varying amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $2.88 $12,099 $9,267 14.2 years
8 kW $2.83 $15,822 $12,666 13.9 years
10 kW $2.77 $19,390 $16,221 13.6 years
12 kW $2.71 $22,803 $19,930 13.3 years
14 kW $2.66 $26,060 $23,795 13.1 years
16 kW $2.60 $29,163 $27,815 12.8 years
18 kW $2.55 $32,110 $31,990 12.5 years
20 kW $2.49 $34,902 $36,320 12.3 years

How to Save on Solar Panels

The solar installer you choose will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:

  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
  • Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
  • Contract: Review the contract terms closely to make sure you understand the overall cost, project completion timeline incentives and warranties.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before making your decision.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's East Hanover, NJ Solar Cost FAQs

How much does it cost to install solar panels in East Hanover?

This is a difficult question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Is cost the most important consideration when buying solar panels?

Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.

Does East Hanover have a net metering program?

The majority of states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

How often do you have to replace solar panels?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using them at a lower efficiency.

Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.

Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.

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