Solar Panel Cost Guide in North Hanover, NJ (2025 Update)
- North Hanover Solar Installation Cost: $11,389
- 25-Year Savings: $7,913
- Payback Period: 16.9 Years
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Average Cost of Solar Panels in North Hanover
Here’s how much it might cost to go solar in North Hanover.
Although the national average of solar panels is $2.66 per watt, solar panels in North Hanover generally cost around 4.The average solar panel system size in North Hanover is around 4.6 kilowatts, meaning a cost of about $11,389 for a solar installation, or $16,286 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of North Hanover homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Despite the high initial cost, the average North Hanover homeowner can save about $14,000 on their power bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a vetted solar installer in your area for a customized quote.
Solar savings over time in North Hanover
| Year | Return on Investment |
|---|---|
| 1 years | $-10,330 |
| 3 years | $-8,212 |
| 5 years | $-6,093 |
| 7 years | $-3,975 |
| 9 years | $-1,857 |
| 11 years | $262 |
| 13 years | $2,380 |
| 15 years | $4,499 |
| 17 years | $6,617 |
| 19 years | $8,735 |
| 21 years | $10,854 |
| 23 years | $12,972 |
| 25 years | $15,091 |
Top Solar Installers in North Hanover
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar panel installer can make your switch to solar power much easier. Because solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you’d like to make the switch to solar but still aren’t certain which solar system company to go with, here are our recommendations for providers nearby:
See all of the solar companies in North Hanover
Factors that Affect Solar Panel Costs in North Hanover
The cost of installing a solar system in North Hanover can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $3,530 per kilowatt in North Hanover.The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons 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 difficult, solar loans are a solid choice because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in North Hanover, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Some companies only sell high-efficiency and high-priced products — 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 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 | $3.67 | $15,419 | $6,516 | 17.6 years |
| 8 kW | $3.60 | $20,163 | $9,083 | 17.2 years |
| 10 kW | $3.53 | $24,710 | $11,848 | 16.9 years |
| 12 kW | $3.46 | $29,059 | $14,811 | 16.6 years |
| 14 kW | $3.39 | $33,210 | $17,971 | 16.2 years |
| 16 kW | $3.32 | $37,164 | $21,329 | 15.9 years |
| 18 kW | $3.25 | $40,920 | $24,884 | 15.5 years |
| 20 kW | $3.18 | $44,478 | $28,638 | 15.2 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
- Warranty: If you’re worried about the durability of your solar panels, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
EcoWatch's North Hanover, NJ Solar Cost FAQs
What is the average cost of installing solar panels in North Hanover?
This is a hard 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in North Hanover?
Leasing solar panels can be an option if you are unable 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 home 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.
How much can I save on power bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout North Hanover, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
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 amount 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.