Solar Panel Cost Guide in Mount Ephraim, NJ (2024 Update)

  • Mount Ephraim Solar Installation Cost: $11,511
  • 25-Year Savings: $8,818
  • Payback Period: 16.1 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Mount Ephraim

Here’s how much it might cost to make the switch to solar in Mount Ephraim.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Mount Ephraim, the typical cost of a solar system is 4 per watt.The average solar panel system size in Mount Ephraim is around 4.7 kilowatts, meaning a cost of about $11,511 for a solar installation, or $16,461 before the 0 federal solar tax credit is applied.

Keep in mind that the figures above are only estimates based on the average energy use of Mount Ephraim homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find adopting solar power is a sound investment. The average homeowner in Mount Ephraim can save around $15,000 on their energy bills over 20 years.

You can click the button below to get connected with a top solar company in Mount Ephraim that can help you get a more accurate cost estimate for your home.

Solar savings over time in Mount Ephraim

Year Return on Investment
1 years $-10,088
3 years $-7,244
5 years $-4,399
7 years $-1,554
9 years $1,291
11 years $4,135
13 years $6,980
15 years $9,825
17 years $12,670
19 years $15,514
21 years $18,359
23 years $21,204
25 years $24,049

Top Solar Installers in Mount Ephraim

Although you can install solar panels yourself, it takes extra labor and handiness. For that reason, most homeowners choose to hire a solar panel installer. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance over the lifespan of your panels.

There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Mount Ephraim

Factors that Affect Solar Panel Costs in Mount Ephraim

Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that determine your overall cost in Mount Ephraim: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.

Solar Equipment

When it comes to estimating the price of solar panels in Mount Ephraim, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can determine by looking at past power bills. Your overall cost can increase by about $3,530 for each additional kilowatt you need.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 energy bills. In addition, add-on products, such as solar batteries, can bring your total well above the Mount Ephraim average.

Solar Financing Terms

Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Mount Ephraim homeowners choose to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also adds to your overall costs, so it’s vital to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.

Solar Panel Installation Company

Lastly, the company you hire to install your solar system can play a role in determining your pricing. Mount Ephraim’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and go with the company that provides the products, warranties and services you’re looking for 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 $7,573 16.8 years
8 kW $3.60 $20,163 $10,492 16.4 years
10 kW $3.53 $24,710 $13,609 16.1 years
12 kW $3.46 $29,059 $16,924 15.8 years
14 kW $3.39 $33,210 $20,437 15.5 years
16 kW $3.32 $37,164 $24,147 15.2 years
18 kW $3.25 $40,920 $28,055 14.8 years
20 kW $3.18 $44,478 $32,161 14.5 years

How to Save on Solar Panels

The solar installer you go with will be a major factor in determining not only your overall 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, such as:

  • Installation Process: Make sure you’re aligned with the company regarding 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.
  • Contract: Review the contract terms thoroughly to make sure you understand the overall cost, project timeline incentives and warranties.
  • Solar Panel Brands: Different companies have various brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you’re considering has it.
  • Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Mount Ephraim, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Mount Ephraim?

The average cost of solar panels in Mount Ephraim 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 certain factors like the type 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 Mount Ephraim?

Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.

Can you sell solar power back to the grid in Mount Ephraim?

Each state has some form 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.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy needs and how much 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 cover 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.

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