Solar Panel Cost Guide in Mendham, NJ (Feb 2023)
- Mendham Solar Installation Cost: $9,268
- 25-Year Savings: $8,345
- Payback Period: 13.2 Years
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Top Solar Installers in Mendham
Although you can install solar panels yourself, it takes extra labor and know-how. For that reason, the majority of homeowners choose to go with a solar panel installer. Companies can also have access to quality options 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 Mendham, the EcoWatch team has compiled a list of our top suggestions here:
See all of the solar companies in Mendham
Factors that Affect Solar Panel Costs in Mendham
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Mendham: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
When it comes to estimating the cost of a solar energy system in Mendham, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can determine by looking at past electricity bills. Your total cost can increase by around $2,770 for each additional kilowatt you need. 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 choose 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 power bills. Additionally, add-on products, like solar batteries, can bring your total well above the Mendham average.
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 Mendham homeowners opt to finance their solar panel systems to make paying for solar more affordable. Although solar loans make switching to solar energy more accessible for Mendham homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Mendham is the company you get to install your solar panel system. As with choosing a company to install new cabinets, for example, there's no shortage of solar installers that provide a range of services at different costs. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, 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||$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.
EcoWatch's Mendham, NJ Solar Cost FAQs
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.