Solar Panel Cost Guide in Hillsborough, NJ (2024 Update)
- Hillsborough Solar Installation Cost: $11,701
- 25-Year Savings: $8,002
- Payback Period: 17.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Hillsborough
Let’s have a look at the average cost of solar panels in Hillsborough.
In Hillsborough, solar panels cost about 4 per watt on average.The average Hillsborough homeowner needs a 4.7-kilowatt system, which would cost about $11,701 with the federal tax credit, or $16,732 before the 0 tax credit is applied.
The true cost of your system can go above or below the average in Hillsborough depending on a variety of factors, such as the model of solar panels you choose and the solar company you hire.Despite the high upfront cost, the average Hillsborough homeowner can save around $14,000 on their electricity bills over 20 years, which is one of the benefits of solar.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Hillsborough
| Year | Return on Investment |
|---|---|
| 1 years | $-10,521 |
| 3 years | $-8,160 |
| 5 years | $-5,800 |
| 7 years | $-3,439 |
| 9 years | $-1,079 |
| 11 years | $1,282 |
| 13 years | $3,642 |
| 15 years | $6,003 |
| 17 years | $8,363 |
| 19 years | $10,724 |
| 21 years | $13,084 |
| 23 years | $15,445 |
| 25 years | $17,805 |
Top Solar Installers in Hillsborough
When making the switch to solar, many homeowners prefer to use a solar installer since putting up solar panels yourself can be a time-consuming project. Plus, if you’d like to maximize your investment in solar power, using a solar company can help with that as well. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives and net metering programs.
If you're on the hunt for a solar company in Hillsborough, we've 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 Hillsborough
Factors that Affect Solar Panel Costs in Hillsborough
For many Hillsborough homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Hillsborough, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $3,530 per kilowatt in Hillsborough.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Hillsborough, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are available from most installers in Hillsborough, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Hillsborough, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $6,353 | 17.7 years |
| 8 kW | $3.60 | $20,163 | $8,867 | 17.4 years |
| 10 kW | $3.53 | $24,710 | $11,577 | 17.0 years |
| 12 kW | $3.46 | $29,059 | $14,486 | 16.7 years |
| 14 kW | $3.39 | $33,210 | $17,592 | 16.3 years |
| 16 kW | $3.32 | $37,164 | $20,896 | 16.0 years |
| 18 kW | $3.25 | $40,920 | $24,398 | 15.7 years |
| 20 kW | $3.18 | $44,478 | $28,097 | 15.3 years |
How to Save on Solar Panels
The solar panel company you opt for will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, including:
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, project completion timeline incentives and warranties.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
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 Hillsborough, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Hillsborough?
This is a tough question to answer precisely, because the cost depends on a few different 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 be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Hillsborough?
Leasing solar panels can be an option if you can’t afford to 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 savings from going solar.
Can you sell solar power back to the grid in Hillsborough?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
How long do solar panels last in Hillsborough?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use 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.