Solar Panel Cost Guide in Montague, NJ (2023 Update)
- Montague Solar Installation Cost: $9,327
- 25-Year Savings: $10,041
- Payback Period: 12.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Montague
We break down average solar pricing in Montague.
Although the national average of solar panels is $2.66 per watt, solar panels in Montague typically cost about 2.77. Since a 4.8-kW system is needed to cover the energy needs of a typical home in Montague, the average price of going solar will be about $9,327 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of going solar can vary based on several factors, such as what size system you need, your energy consumption and what solar installer you go with. Despite the large upfront cost, the average Montague homeowner can save around $15,000 on their energy bills over 20 years, which is one of the positives of solar.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Montague
| Year | Return on Investment |
|---|---|
| 1 years | $-8,552 |
| 3 years | $-7,002 |
| 5 years | $-5,453 |
| 7 years | $-3,904 |
| 9 years | $-2,354 |
| 11 years | $-805 |
| 13 years | $745 |
| 15 years | $2,294 |
| 17 years | $3,843 |
| 19 years | $5,393 |
| 21 years | $6,942 |
| 23 years | $8,492 |
| 25 years | $10,041 |
Top Solar Installers in Montague
Many homeowners decide to use a solar installation company since trying to put up solar panels yourself can be a labor-intensive endeavor. Plus, if you're unsure what type of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
If you'd like to go solar but still aren't certain which solar system company to go with, here are our suggestions for providers nearby:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Montague
Factors that Affect Solar Panel Costs in Montague
Though the average cost of a solar system in Montague is $9,327, your actual cost may be above or below the average. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the price of a solar system in Montague, 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 usage, which you can gauge by looking at past energy bills. Your total cost can increase by about $2,770 for each additional kilowatt you need. The brand and type of equipment you choose 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 limited roof space 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
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are offered by most installers in Montague, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. 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 back the loan.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can influence your pricing. Montague's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Montague are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $12,084 | 12.5 years |
| 8 kW | $2.83 | $15,822 | $16,422 | 12.3 years |
| 10 kW | $2.77 | $19,390 | $20,915 | 12.0 years |
| 12 kW | $2.71 | $22,803 | $25,563 | 11.8 years |
| 14 kW | $2.66 | $26,060 | $30,367 | 11.5 years |
| 16 kW | $2.60 | $29,163 | $35,325 | 11.3 years |
| 18 kW | $2.55 | $32,110 | $40,439 | 11.1 years |
| 20 kW | $2.49 | $34,902 | $45,708 | 10.8 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 find the right company for you, here are some tips to keep in mind:
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies will carry different brands and kinds of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Contract: Before signing a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Montague, NJ Solar Cost FAQs
How much does it cost to install solar panels in Montague?
This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is it worth going solar in Montague?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Montague?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can replace them after having them for that long or you can keep using them at a lower efficiency.
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.