Solar Panel Cost Guide in Montville, NJ (2024 Update)
- Montville Solar Installation Cost: $11,808
- 25-Year Savings: $14,672
- Payback Period: 17.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Montville
We go over average solar pricing in Montville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Montville, the average cost of solar panels is 4 per watt.The average Montville homeowner needs a 4.8-kilowatt system, which would cost about $11,808 with the federal tax credit, or $16,885 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Montville homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.But, after you've paid the upfront cost of installation, the savings for most homeowners is typically good, with a net average savings of about $13,000 over 20 years on electricity bills.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Montville
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 Montville
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Using an installer can make switching to solar power much easier. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
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 Montville
Factors that Affect Solar Panel Costs in Montville
There are a number of criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
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 energy your household consumes, the larger your system will likely need to be. You can expect to spend about $3,530 per kilowatt in Montville.The type of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment consists of more than just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Montville homeowners decide to finance their solar panel systems to offset upfront costs.Even though solar loans make going solar more accessible for Montville homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Montville, and each can charge varying amounts for labor and equipment.Additionally, some companies in Montville are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. 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 | $5,798 | 18.2 years |
8 kW | $3.60 | $20,163 | $8,126 | 17.8 years |
10 kW | $3.53 | $24,710 | $10,652 | 17.5 years |
12 kW | $3.46 | $29,059 | $13,375 | 17.1 years |
14 kW | $3.39 | $33,210 | $16,296 | 16.8 years |
16 kW | $3.32 | $37,164 | $19,415 | 16.4 years |
18 kW | $3.25 | $40,920 | $22,731 | 16.1 years |
20 kW | $3.18 | $44,478 | $26,245 | 15.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The brand of solar panel you need plays a part in which installer you should go with, since different companies offer different panels.
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one mark of a quality company.
- Installation Process: When going solar, it’s necessary to maintain an open line of communication with your solar installer. See to it that you understand how the installation process works and the project completion timeline.
- Contract: When looking over your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
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 Montville, NJ Solar Cost FAQs
How much does it cost to install solar panels in Montville?
The average cost of solar panels in Montville 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 model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Montville?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How will solar panels impact the value of my home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Montville is currently $693,288, which means you could be looking at a value of about $28,425 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Montville is a fruitful investment.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.