Solar Panel Cost Guide in Millville, NJ (Mar 2023)
- Millville Solar Installation Cost: $8,764
- 25-Year Savings: $15,184
- Payback Period: 9.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Millville
We break down average solar pricing in Millville.
The national average cost of solar panels is $2.66 per watt, but in Millville it's 2.77 per watt. Because a 4.5-kW system is needed to cover the energy consumption of a typical home in Millville, the average price of going solar will be about $8,764 after claiming the federal solar tax credit of 30%.
The true cost of your system can go above or below the average in Millville based on several factors, such as the kind of solar panels you choose and the solar contractor you hire. But, once you've paid the upfront cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $20,000 over 20 years on electricity bills.
To get a free quote from a top solar company in Millville, you can click the button below.
Solar savings over time in Millville
| Year | Return on Investment |
|---|---|
| 1 years | $-7,806 |
| 3 years | $-5,890 |
| 5 years | $-3,975 |
| 7 years | $-2,059 |
| 9 years | $-143 |
| 11 years | $1,773 |
| 13 years | $3,689 |
| 15 years | $5,605 |
| 17 years | $7,521 |
| 19 years | $9,437 |
| 21 years | $11,353 |
| 23 years | $13,269 |
| 25 years | $15,184 |
Top Solar Installers in Millville
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Using a solar panel installer can make converting to solar power much easier. The expertise that solar companies offer can be invaluable as well, particularly if you don't quite know what brand of solar equipment would be right for your home.
If you'd like to start using solar energy but still aren't certain which solar system company to go with, here are our recommendations for providers in Millville:
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 Millville
Factors that Affect Solar Panel Costs in Millville
Even though the average cost of a solar system in Millville is $8,764, your final cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $2,770 per kilowatt in Millville. 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 be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a solid route because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar installer you select will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and choose a company that has the products, warranties and services you're looking for 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 | $2.88 | $12,099 | $19,693 | 9.5 years |
| 8 kW | $2.83 | $15,822 | $26,567 | 9.3 years |
| 10 kW | $2.77 | $19,390 | $33,597 | 9.1 years |
| 12 kW | $2.71 | $22,803 | $40,781 | 9.0 years |
| 14 kW | $2.66 | $26,060 | $48,121 | 8.8 years |
| 16 kW | $2.60 | $29,163 | $55,616 | 8.6 years |
| 18 kW | $2.55 | $32,110 | $63,266 | 8.4 years |
| 20 kW | $2.49 | $34,902 | $71,071 | 8.2 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for a long time and save you money on part replacement and repairs.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations 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 ask for their list of options before making your decision.
- Installation Process: When making the switch to solar energy, it's essential to maintain an open line of communication with your solar installer. Make sure you understand how the installation process will go and the project completion timeline.
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 Millville, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Millville?
The average cost of solar panels in Millville is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Millville?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,059.73 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption 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 install between 20 and 35 panels to cover 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.