Solar Panel Cost Guide in Mount Ephraim, NJ (Mar 2023)
- Mount Ephraim Solar Installation Cost: $9,036
- 25-Year Savings: $8,815
- Payback Period: 12.7 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 Mount Ephraim
We break down average solar pricing in Mount Ephraim.
The national average cost of solar panels is $2.66 per watt, but in Mount Ephraim it's 2.77 per watt. The average solar panel system size in Mount Ephraim is around 4.7 kilowatts, meaning a cost of about $9,036 for a solar installation, or $12,921 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of installing solar panels can vary depending on several factors, such as how many panels you need, your energy consumption and what 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 $15,000 over 20 years on utility bills.
You can click the button below to get connected with a top solar company in Mount Ephraim for a quote for your home.
Solar savings over time in Mount Ephraim
| Year | Return on Investment |
|---|---|
| 1 years | $-8,322 |
| 3 years | $-6,894 |
| 5 years | $-5,466 |
| 7 years | $-4,038 |
| 9 years | $-2,610 |
| 11 years | $-1,182 |
| 13 years | $247 |
| 15 years | $1,675 |
| 17 years | $3,103 |
| 19 years | $4,531 |
| 21 years | $5,959 |
| 23 years | $7,387 |
| 25 years | $8,815 |
Top Solar Installers in Mount Ephraim
Although you can install solar panels on your own, it involves extra labor and handiness. Because of that, the majority of homeowners choose to go with a solar panel installer. Plus, if you aren't sure what type of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
If you'd like to go solar but still aren't certain which solar system installer to go with, here are our recommendations for providers in Mount Ephraim:
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 Mount Ephraim
Factors that Affect Solar Panel Costs in Mount Ephraim
For many Mount Ephraim homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Mount Ephraim, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,770. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get 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. Additionally, extra products, such as solar batteries, can bring your total well above the Mount Ephraim average.
Solar Financing Terms
Many homeowners find the average cost of solar in Mount Ephraim to be too costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest. It's a good idea 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 how long it'll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can affect the cost. Mount Ephraim's solar companies all have different labor costs and add varying upcharges to equipment. Companies that 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 cost more. It's best to do some research and go with the company that provides the products, warranties and services you want and also is 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 | $10,892 | 13.2 years |
| 8 kW | $2.83 | $15,822 | $14,833 | 12.9 years |
| 10 kW | $2.77 | $19,390 | $18,929 | 12.7 years |
| 12 kW | $2.71 | $22,803 | $23,181 | 12.4 years |
| 14 kW | $2.66 | $26,060 | $27,587 | 12.1 years |
| 16 kW | $2.60 | $29,163 | $32,148 | 11.9 years |
| 18 kW | $2.55 | $32,110 | $36,865 | 11.6 years |
| 20 kW | $2.49 | $34,902 | $41,737 | 11.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Different companies carry different brands and models of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
- Contract: Though reading through a contract can be tedious, it's important to do it fully so you can be sure you understand what services your solar company will provide 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 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 Mount Ephraim, NJ Solar Cost FAQs
How much does it cost to install solar panels in Mount Ephraim?
The average cost of solar panels in Mount Ephraim is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Mount Ephraim?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Do solar panels increase the value of your home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Mount Ephraim is currently $169,100, so you can look forward to a value of about $6,933 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Mount Ephraim is a fruitful investment.
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 generally 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.