Solar Panel Cost Guide in Mercerville, NJ (2024 Update)
- Mercerville Solar Installation Cost: $11,653
- 25-Year Savings: $8,706
- Payback Period: 16.3 Years
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Average Cost of Solar Panels in Mercerville
We go over average solar pricing in Mercerville.
The average cost of a solar system in Mercerville is 4 per watt.The average Mercerville homeowner needs a 4.7-kilowatt system, which would cost about $11,653 with the federal tax credit, or $16,664 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Mercerville homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $14,000 over 20 years on power bills.
You can click the button below to get connected with a vetted solar installer in Mercerville that can help you get a more accurate cost estimate for your home.
Solar savings over time in Mercerville
| Year | Return on Investment |
|---|---|
| 1 years | $-10,231 |
| 3 years | $-7,386 |
| 5 years | $-4,541 |
| 7 years | $-1,697 |
| 9 years | $1,148 |
| 11 years | $3,993 |
| 13 years | $6,838 |
| 15 years | $9,682 |
| 17 years | $12,527 |
| 19 years | $15,372 |
| 21 years | $18,217 |
| 23 years | $21,061 |
| 25 years | $23,906 |
Top Solar Installers in Mercerville
Many homeowners decide to use a solar installation company since trying to install solar panels by yourself can be time-consuming. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over time.
If you’d like to switch to solar energy but still aren’t certain which solar panel company to go with, here are our recommendations for providers in Mercerville:
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 Mercerville
Factors that Affect Solar Panel Costs in Mercerville
While the average cost of a solar system in Mercerville is $11,653, your final cost may differ. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The size of the solar energy 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 about $3,530. There are many different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that are more efficient tend to also cost more. Plus, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Mercerville to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you pick will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor.You may see 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 specials 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 | $3.67 | $15,419 | $7,292 | 17.0 years |
| 8 kW | $3.60 | $20,163 | $10,117 | 16.6 years |
| 10 kW | $3.53 | $24,710 | $13,141 | 16.3 years |
| 12 kW | $3.46 | $29,059 | $16,362 | 16.0 years |
| 14 kW | $3.39 | $33,210 | $19,781 | 15.7 years |
| 16 kW | $3.32 | $37,164 | $23,398 | 15.3 years |
| 18 kW | $3.25 | $40,920 | $27,212 | 15.0 years |
| 20 kW | $3.18 | $44,478 | $31,224 | 14.7 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: Before signing a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
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 Mercerville, NJ Solar Cost FAQs
How much does it cost to install solar panels in Mercerville?
The average cost of solar panels in Mercerville is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Mercerville?
Leasing solar panels can be an option if you are unable to pay upfront or get 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 bang for your buck from going solar.
Is it worth going solar in Mercerville?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
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 higher level 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.
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.