Solar Panel Cost Guide in Montgomery, NJ (2023 Update)
- Montgomery Solar Installation Cost: $9,191
- 25-Year Savings: $8,243
- Payback Period: 13.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Montgomery
Find out what the average cost of installing solar panels is in Montgomery.
The national average cost of solar panels is $2.66 per watt, but in Montgomery it's 2.77 per watt. Because a 4.7-kW system is needed to cover the energy consumption of a typical home in Montgomery, the average price of going solar will be about $9,191 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average energy use of Montgomery homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Despite the significant initial cost, the average Montgomery homeowner can save about $14,000 on their electricity bills over 20 years, which is one of the advantages of solar.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Montgomery
| Year | Return on Investment |
|---|---|
| 1 years | $-8,494 |
| 3 years | $-7,099 |
| 5 years | $-5,704 |
| 7 years | $-4,309 |
| 9 years | $-2,915 |
| 11 years | $-1,520 |
| 13 years | $-125 |
| 15 years | $1,269 |
| 17 years | $2,664 |
| 19 years | $4,059 |
| 21 years | $5,453 |
| 23 years | $6,848 |
| 25 years | $8,243 |
Top Solar Installers in Montgomery
Installing solar panels yourself can be a stressful project, which is why getting a solar installation company is a good option for many homeowners. Some solar companies, especially local ones, can help you better understand incentives in Montgomery, optimizing your ROI.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Montgomery
Factors that Affect Solar Panel Costs in Montgomery
For many Montgomery homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Montgomery, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,770. 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 are often more expensive 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 will be looking at 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 increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Montgomery to be too steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in higher prices over time due to interest. While solar loans make switching to solar energy more accessible for Montgomery homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The remaining significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Montgomery, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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
Since the kind of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely provide high-quality solar panel installation and expertise.
- Contract: Look through the contract terms thoroughly to make sure you understand how much it will cost, project timeline incentives and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of options before deciding.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Montgomery, NJ Solar Cost FAQs
What is the average cost of installing 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 stuff such as the model 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?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Montgomery have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
How often do you have to replace solar panels?
On average, solar panels can last 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 higher amount 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.