Solar Panel Cost Guide in Lake Mohawk, NJ (2024 Update)
- Lake Mohawk Solar Installation Cost: $11,874
- 25-Year Savings: $8,149
- 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 Lake Mohawk
See how much it might cost to install solar panels in Lake Mohawk.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lake Mohawk, the typical cost of solar panels is 4 per watt.The average solar panel system size in Lake Mohawk is around 4.8 kilowatts, meaning a cost of about $11,874 for a solar installation, or $16,980 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy needs, the type of equipment you want, your solar contractor and more.Many homeowners find going solar is a solid investment. The average homeowner in Lake Mohawk can save about $14,000 on their electricity bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Lake Mohawk
| Year | Return on Investment |
|---|---|
| 1 years | $-10,815 |
| 3 years | $-8,696 |
| 5 years | $-6,578 |
| 7 years | $-4,460 |
| 9 years | $-2,341 |
| 11 years | $-223 |
| 13 years | $1,896 |
| 15 years | $4,014 |
| 17 years | $6,132 |
| 19 years | $8,251 |
| 21 years | $10,369 |
| 23 years | $12,488 |
| 25 years | $14,606 |
Top Solar Installers in Lake Mohawk
Many homeowners opt for a solar installer since trying to put up solar panels on your own can be a labor-intensive endeavor. Solar warranties and repairs are often included in the cost of installation when you go with a solar company as well, which can save you more money after your initial investment.
If you’d like to go solar but still aren’t certain which solar system company to go with, here are our suggestions for providers nearby:
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 Lake Mohawk
Factors that Affect Solar Panel Costs in Lake Mohawk
For many Lake Mohawk homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Lake Mohawk, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of 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 need 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.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a 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 limited roof space 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 additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are provided by most installers in Lake Mohawk, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installation company you pick will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Lake Mohawk are more knowledgeable about local solar incentives and can help you take advantage 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 | $6,390 | 17.7 years |
| 8 kW | $3.60 | $20,163 | $8,915 | 17.3 years |
| 10 kW | $3.53 | $24,710 | $11,638 | 17.0 years |
| 12 kW | $3.46 | $29,059 | $14,559 | 16.7 years |
| 14 kW | $3.39 | $33,210 | $17,677 | 16.3 years |
| 16 kW | $3.32 | $37,164 | $20,993 | 16.0 years |
| 18 kW | $3.25 | $40,920 | $24,507 | 15.6 years |
| 20 kW | $3.18 | $44,478 | $28,218 | 15.3 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what needs to be done before your solar system is installed, such as repairing your electrical system or roof.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Read the contract terms closely to make sure you understand the overall cost, project completion timeline rebates and warranties.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
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 Lake Mohawk, NJ Solar Cost FAQs
How much does it cost to install solar panels in Lake Mohawk?
This is a hard question to answer precisely, because the cost depends on many factors. Generally 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 other solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Lake Mohawk?
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.
Is it worth going solar in Lake Mohawk?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of 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 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.