Solar Panel Cost Guide in Lake Mohawk, NJ (Mar 2023)
- Lake Mohawk Solar Installation Cost: $9,327
- 25-Year Savings: $8,140
- Payback Period: 13.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lake Mohawk
Find out what the average cost of a solar system is in Lake Mohawk.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lake Mohawk, the average cost of a solar system is 2.77 per watt. Using this figure, a typical 4.8-kW system would cost about $9,327 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Lake Mohawk homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. For many homeowners, the upfront cost of solar is worth paying. On average Lake Mohawk homeowners see about $14,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Lake Mohawk for a quote for your home.
Solar savings over time in Lake Mohawk
| Year | Return on Investment |
|---|---|
| 1 years | $-8,628 |
| 3 years | $-7,231 |
| 5 years | $-5,833 |
| 7 years | $-4,436 |
| 9 years | $-3,039 |
| 11 years | $-1,641 |
| 13 years | $-244 |
| 15 years | $1,153 |
| 17 years | $2,551 |
| 19 years | $3,948 |
| 21 years | $5,345 |
| 23 years | $6,743 |
| 25 years | $8,140 |
Top Solar Installers in Lake Mohawk
Although you can install solar panels yourself, it takes extra energy and handiness. That's why almost all homeowners choose a solar panel installer. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be right for your home.
If you're searching for a solar installer in Lake Mohawk, we've put together a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Lake Mohawk
Factors that Affect Solar Panel Costs in Lake Mohawk
The cost of installing a solar system in Lake Mohawk can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $2,770 per kilowatt in Lake Mohawk. The kind of solar panels and equipment you want is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Lake Mohawk homeowners choose to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also adds to your all-in costs, so it's crucial to consider that as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you pick will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor. The size of the company can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $9,709 | 13.9 years |
| 8 kW | $2.83 | $15,822 | $13,256 | 13.6 years |
| 10 kW | $2.77 | $19,390 | $16,958 | 13.3 years |
| 12 kW | $2.71 | $22,803 | $20,815 | 13.1 years |
| 14 kW | $2.66 | $26,060 | $24,827 | 12.8 years |
| 16 kW | $2.60 | $29,163 | $28,994 | 12.5 years |
| 18 kW | $2.55 | $32,110 | $33,316 | 12.3 years |
| 20 kW | $2.49 | $34,902 | $37,794 | 12.0 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Installation Process: Make sure you're on the same page with the installer in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating your electrical system or roof.
- Contract: It's important to read your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before making your decision.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Lake Mohawk, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Lake Mohawk?
The average cost of solar panels in Lake Mohawk is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Lake Mohawk?
You can't get solar panels for free in Lake Mohawk. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
How will having solar panels impact how much my home is worth?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Lake Mohawk?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.