Solar Panel Cost Guide in Mystic Island, NJ (2024 Update)

  • Mystic Island Solar Installation Cost: $10,964
  • 25-Year Savings: $14,157
  • Payback Period: 12.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Mystic Island

Find out what the average cost of a solar system is in Mystic Island.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Mystic Island, the average cost of solar panels is 4 per watt.Since a 4.4-kW system is needed to cover the energy costs of a typical home in Mystic Island, the average price of going solar will be about $10,964 after claiming the federal solar tax credit of 0.

The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of going solar can vary quite a bit depending on multiple factors, such as what size system you need, your energy usage and what company you go with.With average savings of about $19,000 on utility bills over 20 years, many homeowners in Mystic Island find going solar can be quite rewarding.

To receive a free estimate from a vetted solar installation 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

Although it's possible to install solar panels by yourself, it requires extra labor and handiness. That's one of the reasons most homeowners choose a solar panel installer. The expertise that solar installers provide can be useful as well, especially if you aren’t sure what brand of solar equipment would be right for your home.

If you’d like to switch to solar energy but still aren’t sure which solar panel installer to go with, here are our recommendations for providers nearby:

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 for Leasing

Sunrun

★★★★★
4.0

  • 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 install a solar energy system rests 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 several factors that significantly 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 a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater 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 $3,530.There are several different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Many homeowners find the average cost of solar in Mystic Island to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest.However, the interest on solar loans also increases your overall costs, so it’s vital to take that into consideration as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.

Solar Panel Installation Company

The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Mystic Island, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.Additionally, some companies in Mystic Island have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.

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

Since the type of solar panels and the installation company you choose considerably influences your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:

  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can look into your installer’s reputation is by reading reviews.
  • Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
  • Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Contract: When reading over your solar company’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 part breaking or if the company goes out of business.

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 for Leasing

Sunrun

★★★★★
4.0

  • 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?

This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.

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 trump the cost. Other factors that are important to consider 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.

How many solar panels do I need to power my home?

The exact number of solar panels you need depends on your household energy consumption and how much 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 buy 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.

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