Solar Panel Cost Guide in Montague, NJ (2024 Update)
- Montague Solar Installation Cost: $11,874
- 25-Year Savings: $10,050
- Payback Period: 15.3 Years
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Average Cost of Solar Panels in Montague
Find out what the average cost of solar panels are in Montague.
While the national average of solar panels is $2.66 per watt, solar panels in Montague typically cost about 4.The average Montague homeowner needs a 4.8-kilowatt system, which would cost about $11,874 with the federal tax credit, or $16,980 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of going solar can vary quite a bit based on a few factors, such as how many panels you need, your energy usage and what installation company you go with.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $15,000 over 20 years on power bills.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Montague
| Year | Return on Investment |
|---|---|
| 1 years | $-10,841 |
| 3 years | $-8,776 |
| 5 years | $-6,711 |
| 7 years | $-4,646 |
| 9 years | $-2,581 |
| 11 years | $-516 |
| 13 years | $1,549 |
| 15 years | $3,614 |
| 17 years | $5,679 |
| 19 years | $7,744 |
| 21 years | $9,809 |
| 23 years | $11,874 |
| 25 years | $13,939 |
Top Solar Installers in Montague
Many homeowners opt for a solar installer since trying to install solar panels by yourself can be a labor-intensive endeavor. Plus, if you’re unsure what brand of solar panels and equipment you need, a solar installer can help you figure that out after a site survey and consultation.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Montague
Factors that Affect Solar Panel Costs in Montague
For many Montague homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Montague, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay around $3,530 per kilowatt in Montague.There are many different solar panel brands and the one you choose also changes the cost. In many cases, the brands that are more efficient tend to also cost more. Plus, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Montague have solar loans, which reduce the initial cost of installing a solar system.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger 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
A final consideration when trying to figure out the cost of solar for your home or business in Montague is the company you get to install your solar system. Similar to choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that provide a range of services at different price points.Additionally, some companies in Montague have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, 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 | $3.67 | $15,419 | $8,764 | 15.9 years |
| 8 kW | $3.60 | $20,163 | $12,081 | 15.6 years |
| 10 kW | $3.53 | $24,710 | $15,595 | 15.3 years |
| 12 kW | $3.46 | $29,059 | $19,307 | 15.0 years |
| 14 kW | $3.39 | $33,210 | $23,217 | 14.7 years |
| 16 kW | $3.32 | $37,164 | $27,324 | 14.4 years |
| 18 kW | $3.25 | $40,920 | $31,629 | 14.1 years |
| 20 kW | $3.18 | $44,478 | $36,132 | 13.8 years |
How to Save on Solar Panels
The solar company you opt for will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, including:
- Solar Panel Brands: Not all solar installers 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 choose.
- 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.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
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 Montague, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Montague?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Montague?
Solar panels aren’t free in Montague, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can solar panels significantly reduce my energy bills?
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 $806.10 per year.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.