Solar Panel Cost Guide in Mahwah, NJ (2023 Update)
- Mahwah Solar Installation Cost: $9,047
- 25-Year Savings: $9,061
- Payback Period: 12.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Mahwah
We go over average solar pricing in Mahwah.
While the national average of solar panels is $2.66 per watt, solar panels in Mahwah typically cost around 2.77. To account for the typical energy needs of the average home in Mahwah, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,055, or $12,949 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of making the switch to solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy usage and what solar installer you go with. Despite the large upfront cost, the average Mahwah homeowner can save about $15,000 on their power bills over 20 years, which is one of the benefits of solar.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Mahwah
| Year | Return on Investment |
|---|---|
| 1 years | $-8,986 |
| 3 years | $-8,865 |
| 5 years | $-8,745 |
| 7 years | $-8,624 |
| 9 years | $-8,503 |
| 11 years | $-8,383 |
| 13 years | $-8,262 |
| 15 years | $-8,141 |
| 17 years | $-8,020 |
| 19 years | $-7,900 |
| 21 years | $-7,779 |
| 23 years | $-7,658 |
| 25 years | $-7,538 |
Top Solar Installers in Mahwah
Installing solar panels by yourself can be a difficult undertaking, which is why getting a solar installation company is a good option for many homeowners. Companies can also provide access to various kinds of the best solar panels and help you pick which one will be best for your family.
If you're on the hunt for a solar company in Mahwah, the EcoWatch team has 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
See all of the solar companies in Mahwah
Factors that Affect Solar Panel Costs in Mahwah
For many Mahwah homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Mahwah, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your energy bills. Additionally, add-on products, like solar batteries, can bring your total well above the Mahwah average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Mahwah, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The final major cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Mahwah, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $11,187 | 13.0 years |
| 8 kW | $2.83 | $15,822 | $15,227 | 12.7 years |
| 10 kW | $2.77 | $19,390 | $19,421 | 12.5 years |
| 12 kW | $2.71 | $22,803 | $23,771 | 12.2 years |
| 14 kW | $2.66 | $26,060 | $28,275 | 12.0 years |
| 16 kW | $2.60 | $29,163 | $32,935 | 11.7 years |
| 18 kW | $2.55 | $32,110 | $37,750 | 11.5 years |
| 20 kW | $2.49 | $34,902 | $42,720 | 11.2 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of options before deciding.
- Contract: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer good-quality solar panel installation and expertise.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Mahwah, NJ Solar Cost FAQs
How much does it cost to install solar panels in Mahwah?
The average cost of solar panels in Mahwah 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 certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Mahwah?
You can't get solar panels for free in Mahwah. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Mahwah, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.