Solar Panel Cost Guide in Montville, NJ (2023 Update)
- Montville Solar Installation Cost: $9,266
- 25-Year Savings: $7,632
- Payback Period: 13.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Montville
Find out what the average cost of solar panels are in Montville.
In Montville, solar panels cost about 2.77 per watt on average. Because a 4.8-kW system is needed to cover the energy needs of a typical home in Montville, the average price of going solar will be about $9,268 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 making the switch to solar can vary depending on a few factors, such as how many panels you need, your energy consumption and what installation company you go with. But, once you've paid the initial 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.
You can click the button below to get connected with a top solar installer in Montville that can help you get a more accurate cost estimate for your home.
Solar savings over time in Montville
| Year | Return on Investment |
|---|---|
| 1 years | $-8,207 |
| 3 years | $-6,088 |
| 5 years | $-3,970 |
| 7 years | $-1,851 |
| 9 years | $267 |
| 11 years | $2,385 |
| 13 years | $4,504 |
| 15 years | $6,622 |
| 17 years | $8,741 |
| 19 years | $10,859 |
| 21 years | $12,977 |
| 23 years | $15,096 |
| 25 years | $17,214 |
Top Solar Installers in Montville
When going solar, many homeowners choose to hire a solar installation company since putting up a solar system yourself can be a difficult project. Plus, if you're unsure what brand of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
Working with a licensed solar company can help your solar project go smoothly. 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
See all of the solar companies in Montville
Factors that Affect Solar Panel Costs in Montville
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Montville: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy 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 about $2,770 per kilowatt in Montville. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your power bills. In addition, add-on products, like solar batteries, can bring your total well above the Montville average.
Solar Financing Terms
Most solar companies in Montville provide solar loans, which reduce your upfront costs of installing solar. However, the interest on solar loans also increases your total costs, so it's vital to include that in your estimate as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you select will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $9,118 | 14.3 years |
| 8 kW | $2.83 | $15,822 | $12,467 | 14.0 years |
| 10 kW | $2.77 | $19,390 | $15,972 | 13.7 years |
| 12 kW | $2.71 | $22,803 | $19,631 | 13.4 years |
| 14 kW | $2.66 | $26,060 | $23,446 | 13.2 years |
| 16 kW | $2.60 | $29,163 | $27,416 | 12.9 years |
| 18 kW | $2.55 | $32,110 | $31,541 | 12.6 years |
| 20 kW | $2.49 | $34,902 | $35,821 | 12.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Different companies have different brands and kinds of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
- Installation Process: Make sure you're aligned with the installer with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Reputation: Long-running companies likely have a solid 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.
- Contract: It's important to read your solar installer's contract closely 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 Montville, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Montville?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally 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 be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost 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.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily 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 get between 20 and 35 panels to cover 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.