Solar Panel Cost Guide in Hamilton, NJ (2024 Update)
- Hamilton Solar Installation Cost: $11,653
- 25-Year Savings: $8,322
- Payback Period: 16.7 Years
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Average Cost of Solar Panels in Hamilton
Find out what the average cost of installing solar panels is in Hamilton.
While the national average of solar panels is $2.66 per watt, solar panels in Hamilton typically cost around 4.Using this figure, a typical 4.7-kW system would cost about $11,653 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of making the switch to solar can vary quite a bit based on several factors, such as how many panels you need, your energy consumption and what installation company you go with.Even with the high upfront cost, the average Hamilton homeowner can save about $14,000 on their electricity bills over 20 years, which is one of the positives of solar.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Hamilton
| Year | Return on Investment |
|---|---|
| 1 years | $-10,352 |
| 3 years | $-7,749 |
| 5 years | $-5,147 |
| 7 years | $-2,544 |
| 9 years | $59 |
| 11 years | $2,661 |
| 13 years | $5,264 |
| 15 years | $7,867 |
| 17 years | $10,469 |
| 19 years | $13,072 |
| 21 years | $15,674 |
| 23 years | $18,277 |
| 25 years | $20,880 |
Top Solar Installers in Hamilton
Although it's possible to install solar panels yourself, it involves extra labor and handiness. Because of that, the majority of homeowners choose to go with a solar panel installer. Solar companies offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
Best National Provider
SunPower
- 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
- 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 Hamilton
Factors that Affect Solar Panel Costs in Hamilton
The cost of installing a solar system in Hamilton 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 the equipment you choose, financing options and the solar company 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 pay about $3,530 per kilowatt in Hamilton.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price 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 greater savings over time. Also, if you want extra 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 out of reach, solar loans are a solid option 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 all-in costs, so it’s important to consider that 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
Finally, the company you choose to install your solar system can affect the cost. Hamilton’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and go with the company that offers the products, warranties and services you want 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 | $3.67 | $15,419 | $6,802 | 17.3 years |
| 8 kW | $3.60 | $20,163 | $9,465 | 17.0 years |
| 10 kW | $3.53 | $24,710 | $12,325 | 16.7 years |
| 12 kW | $3.46 | $29,059 | $15,383 | 16.3 years |
| 14 kW | $3.39 | $33,210 | $18,639 | 16.0 years |
| 16 kW | $3.32 | $37,164 | $22,093 | 15.7 years |
| 18 kW | $3.25 | $40,920 | $25,744 | 15.3 years |
| 20 kW | $3.18 | $44,478 | $29,593 | 15.0 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 select the right company for you, here are some tips to keep in mind:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Contract: Look through the contract terms closely to make sure you understand the overall cost, project completion timeline incentives and warranties.
Best National Provider
SunPower
- 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
- 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 Hamilton, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Hamilton?
The average cost of solar panels in Hamilton 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 things such as the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas 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.
How much can I save on power bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Hamilton, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Hamilton?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.