Solar Panel Cost Guide in Mullica Hill, NJ (2023 Update)
- Mullica Hill Solar Installation Cost: $9,012
- 25-Year Savings: $11,293
- Payback Period: 11.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Mullica Hill
See how much it might cost to install solar panels in Mullica Hill.
In Mullica Hill, solar panels cost about 2.77 per watt on average. The average solar panel system size in Mullica Hill is around 4.7 kilowatts, meaning a cost of about $9,016 for a solar installation, or $12,893 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of making the switch to solar can vary based on a few factors, such as what size system you need, your energy consumption and what solar installer you go with. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Mullica Hill can save around $17,000 on their power bills over 20 years.
To receive a free estimate from a top solar installation company in Mullica Hill, you can click the button below.
Solar savings over time in Mullica Hill
| Year | Return on Investment |
|---|---|
| 1 years | $-7,514 |
| 3 years | $-4,518 |
| 5 years | $-1,521 |
| 7 years | $1,475 |
| 9 years | $4,472 |
| 11 years | $7,468 |
| 13 years | $10,464 |
| 15 years | $13,461 |
| 17 years | $16,457 |
| 19 years | $19,453 |
| 21 years | $22,450 |
| 23 years | $25,446 |
| 25 years | $28,443 |
Top Solar Installers in Mullica Hill
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Hiring an installer can make converting to solar power much easier. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and system component replacements.
If you'd like to make the switch to solar but still aren't sure which solar panel company to go with, here are our recommendations for providers nearby:
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 Mullica Hill
Factors that Affect Solar Panel Costs in Mullica Hill
The cost of installing a solar system in Mullica Hill can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production 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 brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a popular route because they lower your upfront costs and allow you to pay for your system over five to seven years on average. However, the interest on solar loans also adds to your overall costs, so it's crucial to take that into consideration 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
Finally, the company you get to install your solar panel system can play a role in determining your pricing. Mullica Hill'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 come at a higher cost. It's best to do some research and decide on the company that offers the products, warranties and services you're looking for and also fit into 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 | $14,113 | 11.5 years |
| 8 kW | $2.83 | $15,822 | $19,128 | 11.3 years |
| 10 kW | $2.77 | $19,390 | $24,298 | 11.1 years |
| 12 kW | $2.71 | $22,803 | $29,623 | 10.9 years |
| 14 kW | $2.66 | $26,060 | $35,103 | 10.7 years |
| 16 kW | $2.60 | $29,163 | $40,738 | 10.4 years |
| 18 kW | $2.55 | $32,110 | $46,528 | 10.2 years |
| 20 kW | $2.49 | $34,902 | $52,474 | 10.0 years |
How to Save on Solar Panels
There are a lot of 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: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Contract: Before you sign a contract with a solar company, make sure you read it through fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While 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 be sure to take a look at their list of options before deciding.
- Warranty: If you're concerned about the durability of your solar panel system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Mullica Hill, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Mullica Hill?
The average cost of solar panels in Mullica Hill 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Is switching to solar power worth it?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
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 house 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.