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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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 Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
The Green Panel
- 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 Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
The Green Panel
- 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.
