Solar Panel Cost Guide in Montgomery, NJ (2023 Update)
- Montgomery Solar Installation Cost: $9,182
- 25-Year Savings: $8,252
- Payback Period: 13.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Montgomery
Find out what the average cost of a solar system is in Montgomery.
The national average cost of solar panels is $2.66 per watt, but in Montgomery it's 2.77 per watt. The average Montgomery homeowner needs a 4.7-kilowatt system, which would cost about $9,191 with the federal tax credit, or $13,143 before the 30% tax credit is applied.
These figures are only estimates, and the cost of going solar for you will vary based on your specific situation and what company you want to go with. But, once you've paid the upfront cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $14,000 over 20 years on energy bills.
You can click the button below to get connected with a vetted solar installer in Montgomery that can help you get a more accurate cost estimate for your home.
Solar savings over time in Montgomery
| Year | Return on Investment |
|---|---|
| 1 years | $-9,124 |
| 3 years | $-9,008 |
| 5 years | $-8,891 |
| 7 years | $-8,775 |
| 9 years | $-8,659 |
| 11 years | $-8,543 |
| 13 years | $-8,427 |
| 15 years | $-8,310 |
| 17 years | $-8,194 |
| 19 years | $-8,078 |
| 21 years | $-7,962 |
| 23 years | $-7,845 |
| 25 years | $-7,729 |
Top Solar Installers in Montgomery
Trying to put up solar panels yourself can be a dangerous task, which is why getting a solar installer is a good option for many homeowners. Another upside of utilizing a solar installer is that they can help you optimize your investment by bringing down your future costs of repairs and replacements with the help of warranties and informing you of local incentives you can take advantage of.
If you'd like to start using solar energy but still aren't certain which solar system installer 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 Montgomery
Factors that Affect Solar Panel Costs in Montgomery
Although the average cost of a solar system in Montgomery is $9,191, your actual cost may differ. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar system in Montgomery, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by about $2,770 for each additional kilowatt you need. There are several different solar panel brands and the one you pick also changes the cost. Usually, the brands that are more efficient tend to also cost more. 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
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Montgomery homeowners decide to finance their solar panel systems to offset upfront costs. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installation company you pick will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Some companies only sell products with high efficiency and therefore a higher price point — 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 decide on the company that has the products, warranties and services you want 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 | $9,990 | 13.7 years |
| 8 kW | $2.83 | $15,822 | $13,630 | 13.4 years |
| 10 kW | $2.77 | $19,390 | $17,425 | 13.2 years |
| 12 kW | $2.71 | $22,803 | $21,376 | 12.9 years |
| 14 kW | $2.66 | $26,060 | $25,481 | 12.6 years |
| 16 kW | $2.60 | $29,163 | $29,742 | 12.4 years |
| 18 kW | $2.55 | $32,110 | $34,158 | 12.1 years |
| 20 kW | $2.49 | $34,902 | $38,729 | 11.9 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 models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Different companies carry various brands and types of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Contract: It's important to read your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
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 Montgomery, NJ Solar Cost FAQs
How much does it cost to install solar panels in Montgomery?
The average cost of solar panels in Montgomery 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 things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Montgomery?
You can't get solar panels for free in Montgomery. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Montgomery?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Montgomery?
Even though 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 the amount of energy they produce 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.