Solar Panel Cost Guide in Millville, NJ (2024 Update)
- Millville Solar Installation Cost: $11,168
- 25-Year Savings: $15,185
- Payback Period: 11.7 Years
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Average Cost of Solar Panels in Millville
Here’s how much it might cost to install solar panels in Millville.
In Millville, solar panels cost about 4 per watt on average.To cover the typical energy usage of the average home in Millville, most homeowners require a 4.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,168, or $15,970 before the federal solar tax credit of 0 is applied.
These figures are just averages, and how much solar costs for you will most likely differ based on your specific situation and what company you go with.But, after you've paid the upfront cost of installation, the payback for most homeowners is typically rewarding, with a net average savings of about $20,000 over 20 years on utility bills.
Click the button below to get connected to a top solar panel company in your area for a custom estimate.
Solar savings over time in Millville
| Year | Return on Investment |
|---|---|
| 1 years | $-9,670 |
| 3 years | $-6,674 |
| 5 years | $-3,677 |
| 7 years | $-681 |
| 9 years | $2,315 |
| 11 years | $5,312 |
| 13 years | $8,308 |
| 15 years | $11,305 |
| 17 years | $14,301 |
| 19 years | $17,297 |
| 21 years | $20,294 |
| 23 years | $23,290 |
| 25 years | $26,286 |
Top Solar Installers in Millville
Installing solar panels on your own can be a stressful undertaking, which is why using a solar installer is a good option for many homeowners. The payback period on a solar system will vary depending on factors like your location and energy consumption, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you identify incentives available in your area.
Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:
Best National Provider
SunPower
- 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
- 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 Millville
Factors that Affect Solar Panel Costs in Millville
The cost of installing a solar system in Millville can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That’s why many Millville homeowners choose to finance their solar panel systems to make going solar more affordable.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Millville, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.The company’s size sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
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 | $16,373 | 12.1 years |
| 8 kW | $3.60 | $20,163 | $22,226 | 11.9 years |
| 10 kW | $3.53 | $24,710 | $28,277 | 11.7 years |
| 12 kW | $3.46 | $29,059 | $34,525 | 11.4 years |
| 14 kW | $3.39 | $33,210 | $40,971 | 11.2 years |
| 16 kW | $3.32 | $37,164 | $47,615 | 11.0 years |
| 18 kW | $3.25 | $40,920 | $54,456 | 10.7 years |
| 20 kW | $3.18 | $44,478 | $61,495 | 10.5 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, 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, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Contract: Before signing a contract with a solar installer, make sure to look it over completely so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
Best National Provider
SunPower
- 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
- 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 Millville, NJ Solar Cost FAQs
How much does it cost to install solar panels in Millville?
The average cost of solar panels in Millville 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Millville?
A solar panel system isn’t free in Millville, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How much can I save on energy bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Millville, that will require at least a 10-kW system. Not all homes 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.
What solar power system size is right for 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 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.