Solar Panel Cost Guide in Mantua, NJ (2023 Update)
- Mantua Solar Installation Cost: $9,016
- 25-Year Savings: $11,780
- Payback Period: 10.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Mantua
Here's how much it might cost to make the switch to solar in Mantua.
The national average cost of solar panels is $2.66 per watt, but in Mantua it's 2.77 per watt. Since a 4.7-kW system is needed to cover the energy consumption of a typical home in Mantua, the average price of going solar will be about $9,016 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average energy use of Mantua homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find going solar is a sound investment. The average homeowner in Mantua can save about $17,000 on their energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Mantua that can help you get a more accurate cost estimate for your home.
Solar savings over time in Mantua
| Year | Return on Investment |
|---|---|
| 1 years | $-8,184 |
| 3 years | $-6,521 |
| 5 years | $-4,857 |
| 7 years | $-3,193 |
| 9 years | $-1,530 |
| 11 years | $134 |
| 13 years | $1,798 |
| 15 years | $3,462 |
| 17 years | $5,125 |
| 19 years | $6,789 |
| 21 years | $8,453 |
| 23 years | $10,116 |
| 25 years | $11,780 |
Top Solar Installers in Mantua
When switching to solar energy, many homeowners prefer to hire a solar installation company since DIY solar panel installation can be a time-consuming project. The expertise that solar companies provide can be helpful as well, particularly if you aren't sure what brand of solar equipment you need.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Mantua
Factors that Affect Solar Panel Costs in Mantua
For many Mantua homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Mantua, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,770. The type of 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. However, more efficient panels could save you more over time on your electric bills. In addition, add-on products, such as solar batteries, can bring your total well above the Mantua average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Mantua, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable. It's a good idea to factor 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 installation company you pick will play a role in your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Mantua are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $14,747 | 11.3 years |
| 8 kW | $2.83 | $15,822 | $19,973 | 11.1 years |
| 10 kW | $2.77 | $19,390 | $25,354 | 10.8 years |
| 12 kW | $2.71 | $22,803 | $30,890 | 10.6 years |
| 14 kW | $2.66 | $26,060 | $36,582 | 10.4 years |
| 16 kW | $2.60 | $29,163 | $42,428 | 10.2 years |
| 18 kW | $2.55 | $32,110 | $48,430 | 10.0 years |
| 20 kW | $2.49 | $34,902 | $54,586 | 9.8 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Mantua, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Make sure you're on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Contract: Although reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
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 Mantua, NJ Solar Cost FAQs
How much does it cost to install solar panels in Mantua?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally 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 extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $894.88 per year.
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 how much sunlight your roof gets. You can 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 get 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.