Solar Panel Cost Guide in Mendham, NJ (2024 Update)
- Mendham Solar Installation Cost: $11,808
- 25-Year Savings: $8,348
- Payback Period: 16.8 Years
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Average Cost of Solar Panels in Mendham
We go over average solar pricing in Mendham.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Mendham, the typical cost of solar panels is 4 per watt.Since a 4.8-kW system is needed to cover the energy consumption of a typical home in Mendham, the average price of going solar will be about $11,808 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average energy use of Mendham homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.But, once you've paid the initial cost of installation, the savings for most homeowners is typically good, with a net average savings of about $14,000 over 20 years on utility bills.
You can click the button below to get connected with a vetted solar installer in Mendham for a quote for your home.
Solar savings over time in Mendham
| Year | Return on Investment |
|---|---|
| 1 years | $-10,749 |
| 3 years | $-8,630 |
| 5 years | $-6,512 |
| 7 years | $-4,394 |
| 9 years | $-2,275 |
| 11 years | $-157 |
| 13 years | $1,962 |
| 15 years | $4,080 |
| 17 years | $6,198 |
| 19 years | $8,317 |
| 21 years | $10,435 |
| 23 years | $12,554 |
| 25 years | $14,672 |
Top Solar Installers in Mendham
Many homeowners decide to use a solar panel company since trying to put up solar panels by yourself can be a labor-intensive endeavor. A solar installer can also help save you money in the long run by offering warranties, repairs and part replacements.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- 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 Mendham
Factors that Affect Solar Panel Costs in Mendham
The cost of installing a solar system in Mendham can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay around $3,530 per kilowatt in Mendham.The brand of solar panels and equipment you want is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment is more than just the solar panels themselves. You’ll also need to think 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 looking into a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Mendham homeowners decide to finance their solar panel systems to offset upfront costs.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Mendham is the company you get to install your solar system. Similar to choosing a company to install new cabinets, for instance, there’s no shortage of solar installers that provide a range of services for different budgets.You may see national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials 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 | $3.67 | $15,419 | $6,696 | 17.4 years |
| 8 kW | $3.60 | $20,163 | $9,324 | 17.1 years |
| 10 kW | $3.53 | $24,710 | $12,149 | 16.8 years |
| 12 kW | $3.46 | $29,059 | $15,172 | 16.4 years |
| 14 kW | $3.39 | $33,210 | $18,392 | 16.1 years |
| 16 kW | $3.32 | $37,164 | $21,810 | 15.8 years |
| 18 kW | $3.25 | $40,920 | $25,426 | 15.4 years |
| 20 kW | $3.18 | $44,478 | $29,240 | 15.1 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Mendham, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one indication of a quality company.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Mendham?
Most states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Mendham?
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.