Solar Panel Cost Guide in Mendham, NJ (Sep 2022)

  • Mendham Solar Installation Cost: $9,268
  • 25-Year Savings: $8,345
  • Payback Period: 13.2 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Mendham

Let's take a look at the average cost of solar in Mendham.

Although the national average of solar panels is $2.66 per watt, solar panels in Mendham typically cost about $3. Since a 4.8-kW system is needed to cover the energy costs of a typical home in Mendham, the average price of going solar will be about $9,268 before claiming the federal solar tax credit of 30%.

The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of going solar can vary based on several factors, such as what size system you need, your energy usage and what company you go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in Mendham can save around $14,000 on their electricity bills over 20 years.

Click the button below to get connected to a highly rated solar company in your area for a custom quote.

Solar savings over time in Mendham

Year Return on Investment
1 years $-8,564
3 years $-7,155
5 years $-5,746
7 years $-4,337
9 years $-2,928
11 years $-1,518
13 years $-109
15 years $1,300
17 years $2,709
19 years $4,118
21 years $5,527
23 years $6,936
25 years $8,345

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:

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 Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

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.

Solar Equipment Size

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

Solar Incentives in Mendham

Name Successor Solar Incentive (SuSI) Program
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Website Visit here
More Info Click here

Name NJ Clean Energy- Residential New Construction Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name COOLAdvantage Program
Website Visit here
More Info Click here

Name NJ Clean Energy- WARMAdvantage Program (Electric and Gas)
Website Visit here
More Info Click here

Name New Jersey Renewable Energy Incentive Program (Sustainable Biopower)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

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 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 Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Mendham, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Mendham?

This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Can you get solar panels for 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 further reduce the cost.

Can you sell solar power back to the grid in Mendham?

Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future energy bills.

How many solar panels should I get to power my home?

The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.

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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