Solar Panel Cost Guide in Mendham, NJ (2023 Update)
- Mendham Solar Installation Cost: $9,266
- 25-Year Savings: $8,348
- Payback Period: 13.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Mendham
We go over average solar pricing in Mendham.
In Mendham, solar panels cost about 2.77 per watt on average. To cover the typical energy needs of the average home in Mendham, most homeowners require a 4.8-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,268, or $13,253 before the federal solar tax credit of 30% is applied.
Keep in mind 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 equipment you choose, your solar contractor and more. Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Mendham can save about $14,000 on their energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Mendham that can help you get a more accurate cost estimate for your home.
Solar savings over time in Mendham
| Year | Return on Investment |
|---|---|
| 1 years | $-8,207 |
| 3 years | $-6,088 |
| 5 years | $-3,970 |
| 7 years | $-1,851 |
| 9 years | $267 |
| 11 years | $2,385 |
| 13 years | $4,504 |
| 15 years | $6,622 |
| 17 years | $8,741 |
| 19 years | $10,859 |
| 21 years | $12,977 |
| 23 years | $15,096 |
| 25 years | $17,214 |
Top Solar Installers in Mendham
Although it's possible to install solar panels on your own, it involves extra effort and handiness. Because of that, most people choose to go with a solar panel installer. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and system component replacements.
Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Mendham
Factors that Affect Solar Panel Costs in Mendham
There are several factors that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,770. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a solid option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years. Though solar loans make adopting solar energy more accessible for Mendham homeowners, they can also add to 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
The final major cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Mendham, you'll have many options to choose from, but each comes at different price points for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — 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 decide on the company that has the products, warranties and services you want 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 | $2.88 | $12,099 | $10,016 | 13.7 years |
| 8 kW | $2.83 | $15,822 | $13,665 | 13.4 years |
| 10 kW | $2.77 | $19,390 | $17,469 | 13.2 years |
| 12 kW | $2.71 | $22,803 | $21,428 | 12.9 years |
| 14 kW | $2.66 | $26,060 | $25,542 | 12.6 years |
| 16 kW | $2.60 | $29,163 | $29,812 | 12.4 years |
| 18 kW | $2.55 | $32,110 | $34,236 | 12.1 years |
| 20 kW | $2.49 | $34,902 | $38,816 | 11.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Contract: Before signing a contract with a solar company, be sure to look it over fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Solar Panel Brands: Different companies have various brands and types of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
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 Mendham, NJ Solar Cost FAQs
How much does it cost to install solar panels in Mendham?
The average cost of solar panels in Mendham 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 such as the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Mendham?
Solar panels aren't free in Mendham, 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.
Is it worth going solar in Mendham?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Mendham?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them once you've had 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.