Solar Panel Cost Guide in East Hanover, PA (2024 Update)
- East Hanover Solar Installation Cost: $16,690
- 25-Year Savings: $12,965
- Payback Period: 16.7 Years
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Average Cost of Solar Panels in East Hanover
Let’s have a look at the average cost of solar panels in East Hanover.
The average cost of solar panels in East Hanover is 4 per watt.Because a 6.7-kW system is needed to cover the energy needs of a typical home in East Hanover, the average price of going solar will be about $16,690 after claiming the federal solar tax credit of 0.
The true cost of your system can be higher or lower than the average in East Hanover depending on a few factors, such as the kind of solar panels you choose and the solar contractor you hire.With typical savings of about $14,000 on energy bills over 20 years, many homeowners in East Hanover find installing solar panels can be quite rewarding.
Click the button below to get connected to a top solar company in East Hanover for a custom estimate.
Solar savings over time in East Hanover
| Year | Return on Investment |
|---|---|
| 1 years | $-15,447 |
| 3 years | $-12,961 |
| 5 years | $-10,475 |
| 7 years | $-7,990 |
| 9 years | $-5,504 |
| 11 years | $-3,018 |
| 13 years | $-532 |
| 15 years | $1,954 |
| 17 years | $4,440 |
| 19 years | $6,926 |
| 21 years | $9,412 |
| 23 years | $11,898 |
| 25 years | $14,384 |
Top Solar Installers in East Hanover
Although you can install solar panels yourself, it involves extra energy and know-how. That's why most people choose to hire a solar panel installer. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
There are several licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in East Hanover
Factors that Affect Solar Panel Costs in East Hanover
For many East Hanover homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in East Hanover, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,550. The model of solar panels and equipment you choose is another factor that will greatly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in East Hanover provide solar loans, which reduce your upfront costs of installing solar.Although solar loans make adopting solar energy more accessible for East Hanover homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies in East Hanover, and each can charge different amounts for labor and equipment.You may come across national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.69 | $15,506 | $6,786 | 17.4 years |
| 8 kW | $3.62 | $20,278 | $9,445 | 17.1 years |
| 10 kW | $3.55 | $24,850 | $12,303 | 16.7 years |
| 12 kW | $3.48 | $29,224 | $15,360 | 16.4 years |
| 14 kW | $3.41 | $33,398 | $18,616 | 16.1 years |
| 16 kW | $3.34 | $37,374 | $22,071 | 15.7 years |
| 18 kW | $3.27 | $41,152 | $25,724 | 15.4 years |
| 20 kW | $3.19 | $44,730 | $29,577 | 15.0 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on 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:
- Solar Panel Brands: Different companies offer various brands and models of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: When going solar, it’s important to maintain an open line of communication with your solar panel company. Make sure you understand how the installation process works and the project timeline.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's East Hanover, PA Solar Cost FAQs
What is the average cost of installing solar panels in East Hanover?
The average cost of solar panels in East Hanover is about $17,750 for a 5-kW system and $35,500 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in East Hanover?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to 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 financial benefits from going solar.
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 $743.07 per year.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs 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 household 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.