Solar Panel Cost Guide in Millville, NJ (2024 Update)
- Millville Solar Installation Cost: $11,168
- 25-Year Savings: $15,185
- Payback Period: 11.7 Years
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Average Cost of Solar Panels in Millville
Here’s how much it might cost to install solar panels in Millville.
In Millville, solar panels cost about 4 per watt on average.The average solar panel system size in Millville is around 4.5 kilowatts, meaning a cost of about $11,168 for a solar installation, or $15,970 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Millville homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.With average savings of about $20,000 on electricity bills over 20 years, many homeowners in Millville find investing in solar has a decent ROI.
You can click the button below to get connected with a vetted solar company in Millville for a quote for your home.
Solar savings over time in Millville
| Year | Return on Investment |
|---|---|
| 1 years | $-9,670 |
| 3 years | $-6,674 |
| 5 years | $-3,677 |
| 7 years | $-681 |
| 9 years | $2,315 |
| 11 years | $5,312 |
| 13 years | $8,308 |
| 15 years | $11,305 |
| 17 years | $14,301 |
| 19 years | $17,297 |
| 21 years | $20,294 |
| 23 years | $23,290 |
| 25 years | $26,286 |
Top Solar Installers in Millville
Installing solar panels on your own can be a challenging project, which is why hiring a solar installer is a good option for many homeowners. The payback period of solar panels will vary depending on factors like your roof configuration and energy consumption, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Millville
Factors that Affect Solar Panel Costs in Millville
The cost of installing a solar system in Millville can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,530. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your power bills. In addition, extra products, such as solar batteries, can bump up your total well above the Millville average.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are an affordable option because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It’s wise to factor 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 installer you select will influence your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra 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 | $16,373 | 12.1 years |
| 8 kW | $3.60 | $20,163 | $22,226 | 11.9 years |
| 10 kW | $3.53 | $24,710 | $28,277 | 11.7 years |
| 12 kW | $3.46 | $29,059 | $34,525 | 11.4 years |
| 14 kW | $3.39 | $33,210 | $40,971 | 11.2 years |
| 16 kW | $3.32 | $37,164 | $47,615 | 11.0 years |
| 18 kW | $3.25 | $40,920 | $54,456 | 10.7 years |
| 20 kW | $3.18 | $44,478 | $61,495 | 10.5 years |
How to Save on Solar Panels
Since the type 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 select the right ones for you. Here are some things to keep in mind to help with your decision:
- 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: Though reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: The brand of solar panel you want to install plays a part in which company you should choose, since different companies provide different panels.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous 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 Millville, NJ Solar Cost FAQs
How much does it cost to install solar panels in Millville?
The average cost of solar panels in Millville 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 kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Millville?
You can’t get solar panels for free in Millville. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
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 in Millville, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.