Solar Panel Cost Guide in Martinsville, NJ (2024 Update)

  • Martinsville Solar Installation Cost: $11,701
  • 25-Year Savings: $7,954
  • Payback Period: 17.1 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Martinsville

Let’s take a look at the average cost of solar in Martinsville.

In Martinsville, solar panels cost about 4 per watt on average.To cover the typical energy needs of the average home in Martinsville, most homeowners require a 4.7-kilowatt system. Using the figure above, a solar installation costs around $11,701, or $16,732 before the federal solar tax credit of 0 is applied.

Bear in mind that the figures above are only estimates based on the average energy use of Martinsville homeowners. The price 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.For most homeowners, the upfront cost of solar power is worth paying. On average Martinsville homeowners see about $14,000 in savings on energy bills over 20 years.

To see your potential savings and connect with a local solar installer, click the button below.

Solar savings over time in Martinsville

Year Return on Investment
1 years $-10,551
3 years $-8,251
5 years $-5,951
7 years $-3,651
9 years $-1,351
11 years $949
13 years $3,249
15 years $5,549
17 years $7,849
19 years $10,149
21 years $12,449
23 years $14,749
25 years $17,049

Top Solar Installers in Martinsville

DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Going with a solar panel installer can make converting to solar power much easier. Another great thing about using a reputable solar installer is that it'll likely provide warranties and free repairs, which help protect your solar system over time.

If you're on the hunt for a solar company in Martinsville, we've put together a list of our top suggestions here:

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 for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Martinsville

Factors that Affect Solar Panel Costs in Martinsville

For many Martinsville homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Martinsville, 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

The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production 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 $3,530.The kind of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment is 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

For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Martinsville, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible.Even though solar loans make going solar more accessible for Martinsville homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

A final consideration when trying to figure out the cost of solar for your home or business in Martinsville is the company you get to install your solar system. Similar to choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that provide a range of services for different budgets.Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that provides the products, warranties and services you’re looking for and also fit into your budget.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $3.67 $15,419 $6,293 17.8 years
8 kW $3.60 $20,163 $8,786 17.4 years
10 kW $3.53 $24,710 $11,477 17.1 years
12 kW $3.46 $29,059 $14,365 16.7 years
14 kW $3.39 $33,210 $17,451 16.4 years
16 kW $3.32 $37,164 $20,735 16.0 years
18 kW $3.25 $40,920 $24,217 15.7 years
20 kW $3.18 $44,478 $27,896 15.4 years

How to Save on Solar Panels

Since the type of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Solar Panel Brands: Different companies carry various brands and kinds of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
  • Contract: When reading over your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer’s reputation is by reading reviews.
  • Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.

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 for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Martinsville, NJ Solar Cost FAQs

How much does it cost to install solar panels in Martinsville?

This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,650 for a 5-kW system and $35,300 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 higher-than-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.

Can you get solar panels for free in Martinsville?

A solar panel system isn’t free in Martinsville, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.

How will solar panels impact my property value?

Solar panels can increase your home value 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% with a solar installation."

How often do you have to replace solar panels?

On average, the lifespan of solar panels is 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 level 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.

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