Solar Panel Cost Guide in Mine Hill, NJ (2024 Update)
- Mine Hill Solar Installation Cost: $11,808
- 25-Year Savings: $6,918
- Payback Period: 18.2 Years
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Average Cost of Solar Panels in Mine Hill
Find out what the average cost of solar panels are in Mine Hill.
The average cost of a solar panel system in Mine Hill is 4 per watt.Using this figure, a typical 4.8-kW system would cost about $11,808 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Mine Hill homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.With typical savings of about $13,000 on utility bills over 20 years, many homeowners in Mine Hill find installing solar panels can pay off big.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Mine Hill
Year | Return on Investment |
---|---|
1 years | $-10,749 |
3 years | $-8,630 |
5 years | $-6,512 |
7 years | $-4,394 |
9 years | $-2,275 |
11 years | $-157 |
13 years | $1,962 |
15 years | $4,080 |
17 years | $6,198 |
19 years | $8,317 |
21 years | $10,435 |
23 years | $12,554 |
25 years | $14,672 |
Top Solar Installers in Mine Hill
Putting up solar panels by yourself can be a time-consuming project, which is why using a solar installer is a good option for many homeowners. Another perk of using a solar installer is that they can help you make the most of your investment by bringing down your future costs of repairs and replacements with the help of warranties and helping you learn about local incentives you can take advantage of.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some in Mine Hill:
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Mine Hill
Factors that Affect Solar Panel Costs in Mine Hill
For many Mine Hill homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Mine Hill, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Mine Hill, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can figure out by looking at past power bills. Your total cost can increase by about $3,530 for each additional kilowatt you need.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for 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 in the long run on your energy bills. Additionally, extra products, such as solar batteries, can bring your total well above the Mine Hill average.
Solar Financing Terms
Many homeowners find the average cost of solar in Mine Hill to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest.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 how long it’ll take to pay back the loan.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Mine Hill, you’ll have plenty of options to choose from, but each comes at varying price points for labor and equipment.The size of the company sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes 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 | $4,901 | 19.0 years |
8 kW | $3.60 | $20,163 | $6,930 | 18.6 years |
10 kW | $3.53 | $24,710 | $9,157 | 18.2 years |
12 kW | $3.46 | $29,059 | $11,581 | 17.9 years |
14 kW | $3.39 | $33,210 | $14,203 | 17.5 years |
16 kW | $3.32 | $37,164 | $17,023 | 17.1 years |
18 kW | $3.25 | $40,920 | $20,041 | 16.8 years |
20 kW | $3.18 | $44,478 | $23,256 | 16.4 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Mine Hill, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar installer. See to it that you understand how the installation process will go and the completion timeline.
- Warranty: If you care about the longevity of your solar panels, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Before signing a contract with a solar company, be 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 to do if a component breaks or malfunctions and what services you can expect from them.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Mine Hill, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Mine Hill?
The average cost of solar panels in Mine Hill is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Does Mine Hill have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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.