Solar Panel Cost Guide in Mountain Lakes, NJ (Oct 2022)

  • Mountain Lakes Solar Installation Cost: $9,268
  • 25-Year Savings: $6,915
  • Payback Period: 14.3 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Mountain Lakes

Let's take a look at the average cost of solar panels in Mountain Lakes.

Although the national average of solar panels is $2.66 per watt, solar panels in Mountain Lakes typically cost around $3. The average Mountain Lakes homeowner needs a 4.8-kilowatt system, which would cost about $9,268, or $6,858 after the federal solar tax credit of 30% is applied.

Bear in mind that the figures above are only estimates based on the average Mountain Lakes homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find going solar is a sound investment. The average homeowner in Mountain Lakes can save about $13,000 on their energy bills over 20 years.

You can click the button below to get connected with a vetted solar company in Mountain Lakes for a quote for your home.

Solar savings over time in Mountain Lakes

Year Return on Investment
1 years $-8,621
3 years $-7,326
5 years $-6,032
7 years $-4,737
9 years $-3,442
11 years $-2,148
13 years $-853
15 years $442
17 years $1,737
19 years $3,031
21 years $4,326
23 years $5,621
25 years $6,915

Top Solar Installers in Mountain Lakes

When making the switch to solar, many homeowners opt to go with a solar installation company since installing solar panels yourself can be a challenging project. The payback period of solar panels will vary depending on factors like your location and energy use, but going with a solar company can help you reach a break-even point sooner. Your provider will be able to help you identify incentives available in your area.

If you're searching for a solar installer in Mountain Lakes, the EcoWatch team has put together a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Mountain Lakes

Factors that Affect Solar Panel Costs in Mountain Lakes

There are a number of criteria that can influence your solar panel 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 Size

System size is one of the largest factors that determines the overall cost of going solar. For that reason, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your power bills. In addition, extra products, like solar batteries, can bump up your total well above the Mountain Lakes average.

Solar Financing Terms

If paying for a solar system out of pocket is out of reach, solar loans are an affordable option because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. When estimating your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.

Solar Panel Installation Company

The solar company you go with to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Mountain Lakes, and each can charge varying amounts for labor and equipment. The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.

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 $8,221 14.9 years
8 kW $2.83 $15,822 $11,271 14.6 years
10 kW $2.77 $19,390 $14,477 14.3 years
12 kW $2.71 $22,803 $17,838 14.0 years
14 kW $2.66 $26,060 $21,354 13.7 years
16 kW $2.60 $29,163 $25,025 13.5 years
18 kW $2.55 $32,110 $28,851 13.2 years
20 kW $2.49 $34,902 $32,832 12.9 years

Solar Incentives in Mountain Lakes

Name Successor Solar Incentive (SuSI) Program
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Website Visit here
More Info Click here

Name NJ Clean Energy- Residential New Construction Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name COOLAdvantage Program
Website Visit here
More Info Click here

Name NJ Clean Energy- WARMAdvantage Program (Electric and Gas)
Website Visit here
More Info Click here

Name New Jersey Renewable Energy Incentive Program (Sustainable Biopower)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

Since the model of solar panels and the installer you choose significantly influences your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:

  • Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
  • Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
  • Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer quality solar panel installation and expertise.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Mountain Lakes, NJ Solar Cost FAQs

How much does it cost to install solar panels in Mountain Lakes?

The average cost of solar panels in Mountain Lakes 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 things like the kind of solar panels you want, what size system you need and how much energy you use.

Should I lease or buy solar panels in Mountain Lakes?

Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of 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 bang for your buck from going solar.

Can you sell solar power back to the grid in Mountain Lakes?

Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future utility bills.

How long do solar panels last in Mountain Lakes?

On average, the lifespan of solar panels is 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 larger level 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.

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