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.
While the national average of solar panels is $2.66 per watt, solar panels in Mendham typically cost about 4.The average Mendham homeowner needs a 4.8-kilowatt system, which would cost about $11,808 with the federal tax credit, or $16,885 before the 0 tax credit is applied.
How much you pay can be higher or lower than the average in Mendham based on several factors, such as the type of solar panels you choose and the solar company you hire.For many homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $14,000 in savings on electricity bills over 20 years.
To get a free quote from a highly rated solar company in Mendham, you can click the button below.
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
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Hiring a solar panel installer can make your swap to solar power much easier. Plus, if you aren’t sure what type of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.
Working with a vetted solar installer can help your solar project go smoothly. 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Mendham
Factors that Affect Solar Panel Costs in Mendham
For many Mendham homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Mendham, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay about $3,530 per kilowatt in Mendham.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Mendham, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Mendham to be too steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in higher prices over time due to interest.Even though solar loans make going solar more accessible for Mendham homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Mendham is the company you choose to install your solar system. Similar to choosing a company to build a deck or pool, for instance, you’ll have many options for solar installers that provide a range of services for different budgets.Some companies 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 cost more. It’s best to do some research and go with the company that offers the products, warranties and services you want and also fits within 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 | $6,696 | 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 solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Mendham, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Mendham?
This is a difficult question to answer exactly, because the cost depends on many 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. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Mendham have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future utility 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?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use 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.