Solar Panel Cost Guide in Mercerville, NJ (Mar 2023)
- Mercerville Solar Installation Cost: $9,152
- 25-Year Savings: $8,698
- Payback Period: 12.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Mercerville
Let's take a look at the average cost of solar panels in Mercerville.
While the national average of solar panels is $2.66 per watt, solar panels in Mercerville typically cost about 2.77. Since a 4.7-kW system is needed to cover the energy costs of a typical home in Mercerville, the average price of going solar will be about $9,152 after claiming the federal solar tax credit of 30%.
These figures are only averages, and the cost of going solar for you will differ based on your energy needs and what company you choose to go with. For most homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Mercerville see about $14,000 in savings on energy bills over 20 years.
Click the button below to get connected to a top solar panel company in Mercerville for a personalized estimate.
Solar savings over time in Mercerville
| Year | Return on Investment |
|---|---|
| 1 years | $-8,438 |
| 3 years | $-7,010 |
| 5 years | $-5,582 |
| 7 years | $-4,154 |
| 9 years | $-2,726 |
| 11 years | $-1,298 |
| 13 years | $130 |
| 15 years | $1,558 |
| 17 years | $2,986 |
| 19 years | $4,414 |
| 21 years | $5,842 |
| 23 years | $7,270 |
| 25 years | $8,698 |
Top Solar Installers in Mercerville
Although it's possible to install solar panels on your own, it involves extra labor and expertise. Because of that, most people choose to go with a solar panel installer. Plus, if you're not certain what brand 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.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some in Mercerville:
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
Tesla Energy
- 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 Mercerville
Factors that Affect Solar Panel Costs in Mercerville
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few key factors that will push your cost above or below the average in Mercerville: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar system in Mercerville, 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 power bills. Your total cost can increase by about $2,770 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you choose also affects the cost. In many cases, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Mercerville to be too costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you go with to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Mercerville, and each can charge different amounts for labor and equipment. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, 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 | $10,611 | 13.3 years |
| 8 kW | $2.83 | $15,822 | $14,459 | 13.1 years |
| 10 kW | $2.77 | $19,390 | $18,461 | 12.8 years |
| 12 kW | $2.71 | $22,803 | $22,618 | 12.6 years |
| 14 kW | $2.66 | $26,060 | $26,931 | 12.3 years |
| 16 kW | $2.60 | $29,163 | $31,399 | 12.0 years |
| 18 kW | $2.55 | $32,110 | $36,022 | 11.8 years |
| 20 kW | $2.49 | $34,902 | $40,800 | 11.5 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Your solar installer should have a good reputation as a company and have proven 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 past customers.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
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
Tesla Energy
- 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 Mercerville, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Mercerville?
The average cost of solar panels in Mercerville is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Mercerville?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How much can I save on power bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Mercerville, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Mercerville?
On average, solar panels can last 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 larger 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.