Solar Panel Cost Guide in Mystic Island, NJ (2025 Update)
- Mystic Island Solar Installation Cost: $10,964
- 25-Year Savings: $14,157
- Payback Period: 12.0 Years
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Average Cost of Solar Panels in Mystic Island
Find out what the average cost of a solar system is in Mystic Island.
The average cost of a solar panel system in Mystic Island is 4 per watt.The average Mystic Island homeowner needs a 4.4-kilowatt system, which would cost about $10,964 with the federal tax credit, or $15,679 before the 0 tax credit is applied.
These figures are only estimates, and how much solar costs for you will differ based on your specific situation and what company you go with.For many homeowners, the upfront cost of solar power is worth paying. On average homeowners in Mystic Island see about $19,000 in savings on utility bills over 20 years.
To get a free quote from a highly rated solar company in Mystic Island, you can click the button below.
Solar savings over time in Mystic Island
Year | Return on Investment |
---|---|
1 years | $-9,466 |
3 years | $-6,470 |
5 years | $-3,474 |
7 years | $-477 |
9 years | $2,519 |
11 years | $5,516 |
13 years | $8,512 |
15 years | $11,508 |
17 years | $14,505 |
19 years | $17,501 |
21 years | $20,498 |
23 years | $23,494 |
25 years | $26,490 |
Top Solar Installers in Mystic Island
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar company can make swapping over to solar power much easier. A solar installer can also help save you money over time by offering warranties, repairs and system component replacements.
If you're searching for a solar installer in Mystic Island, the EcoWatch team has compiled a list of our top suggestions here:
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
See all of the solar companies in Mystic Island
Factors that Affect Solar Panel Costs in Mystic Island
For many Mystic Island homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Mystic Island, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The brand of solar panels and equipment you want is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Further, solar equipment is more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a solid choice because they reduce your upfront costs and let you 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 important to keep that in mind as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar company you hire to handle your switch to green energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Mystic Island, and each can charge varying amounts for labor and equipment.The company’s size sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more 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 discount can bring their pricing down 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 | $3.67 | $15,419 | $15,358 | 12.5 years |
8 kW | $3.60 | $20,163 | $20,872 | 12.3 years |
10 kW | $3.53 | $24,710 | $26,584 | 12.0 years |
12 kW | $3.46 | $29,059 | $32,494 | 11.8 years |
14 kW | $3.39 | $33,210 | $38,602 | 11.6 years |
16 kW | $3.32 | $37,164 | $44,907 | 11.3 years |
18 kW | $3.25 | $40,920 | $51,410 | 11.1 years |
20 kW | $3.18 | $44,478 | $58,111 | 10.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Different companies have different brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It’s important to read your solar installer’s contract well 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Mystic Island, NJ Solar Cost FAQs
How much does it cost to install solar panels in Mystic Island?
The average cost of solar panels in Mystic Island 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 stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Can solar panels significantly reduce my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,025.89 per year.
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 requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.