Solar Panel Cost Guide in Millburn, NJ (2025 Update)
- Millburn Solar Installation Cost: $11,692
- 25-Year Savings: $14,788
- Payback Period: 17.2 Years
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Average Cost of Solar Panels in Millburn
Find out what the average cost of installing solar panels is in Millburn.
The average cost of a solar system in Millburn is 4 per watt.The average solar panel system size in Millburn is around 4.7 kilowatts, meaning a cost of about $11,692 for a solar installation, or $16,720 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of installing solar panels can vary depending on multiple factors, such as how many panels you need, your energy consumption and what installation company you go with.But, after you've paid the initial cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $14,000 over 20 years on utility bills.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Millburn
| Year | Return on Investment |
|---|---|
| 1 years | $-10,633 |
| 3 years | $-8,514 |
| 5 years | $-6,396 |
| 7 years | $-4,278 |
| 9 years | $-2,159 |
| 11 years | $-41 |
| 13 years | $2,078 |
| 15 years | $4,196 |
| 17 years | $6,314 |
| 19 years | $8,433 |
| 21 years | $10,551 |
| 23 years | $12,670 |
| 25 years | $14,788 |
Top Solar Installers in Millburn
When going solar, many homeowners opt to go with a solar installer since overseeing your solar installation yourself can be a challenging project. Solar companies offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
If you're searching for a solar installer in Millburn, 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 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 Millburn
Factors that Affect Solar Panel Costs in Millburn
Even though the average cost of a solar system in Millburn is $11,692, your actual cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Millburn have solar loans, which reduce your upfront costs of installing solar.Although solar loans make going solar more accessible for Millburn homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can play a role in determining the cost. Millburn’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $6,159 | 17.9 years |
| 8 kW | $3.60 | $20,163 | $8,608 | 17.5 years |
| 10 kW | $3.53 | $24,710 | $11,254 | 17.2 years |
| 12 kW | $3.46 | $29,059 | $14,098 | 16.8 years |
| 14 kW | $3.39 | $33,210 | $17,139 | 16.5 years |
| 16 kW | $3.32 | $37,164 | $20,378 | 16.1 years |
| 18 kW | $3.25 | $40,920 | $23,815 | 15.8 years |
| 20 kW | $3.18 | $44,478 | $27,450 | 15.5 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: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before deciding.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, completion timeline incentives and warranties.
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 Millburn, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Millburn?
The average cost of solar panels in Millburn is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on electricity bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Millburn, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily 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.