Solar Panel Cost Guide in East Hanover, PA (2024 Update)
- East Hanover Solar Installation Cost: $16,690
- 25-Year Savings: $12,965
- Payback Period: 16.7 Years
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Average Cost of Solar Panels in East Hanover
Let’s have a look at the average cost of solar panels in East Hanover.
The national average cost of solar panels is $2.66 per watt, but in East Hanover it’s 4 per watt.Since a 6.7-kW system is needed to cover the energy needs of a typical home in East Hanover, the average price of going solar will be about $16,690 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of going solar can vary quite a bit based on several factors, such as how many panels you need, your energy usage and what installation company you go with.Many homeowners find installing a solar system is a rewarding investment. The average homeowner in East Hanover can save about $14,000 on their energy bills over 20 years.
To get a free estimate from a pre-vetted solar company in East Hanover, you can click the button below.
Solar savings over time in East Hanover
| Year | Return on Investment |
|---|---|
| 1 years | $-15,447 |
| 3 years | $-12,961 |
| 5 years | $-10,475 |
| 7 years | $-7,990 |
| 9 years | $-5,504 |
| 11 years | $-3,018 |
| 13 years | $-532 |
| 15 years | $1,954 |
| 17 years | $4,440 |
| 19 years | $6,926 |
| 21 years | $9,412 |
| 23 years | $11,898 |
| 25 years | $14,384 |
Top Solar Installers in East Hanover
When going solar, many homeowners opt to hire a solar installer since installing solar panels yourself can be a time-consuming project. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance over time.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
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 East Hanover
Factors that Affect Solar Panel Costs in East Hanover
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that will push your cost above or below the average in East Hanover: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar energy system in East Hanover, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can determine by looking at past power bills. Your total cost can increase by about $3,550 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like East Hanover, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many East Hanover homeowners choose to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also increases your total costs, so it’s crucial to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can play a part in determining your pricing. East Hanover’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions 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 | $3.69 | $15,506 | $6,786 | 17.4 years |
| 8 kW | $3.62 | $20,278 | $9,445 | 17.1 years |
| 10 kW | $3.55 | $24,850 | $12,303 | 16.7 years |
| 12 kW | $3.48 | $29,224 | $15,360 | 16.4 years |
| 14 kW | $3.41 | $33,398 | $18,616 | 16.1 years |
| 16 kW | $3.34 | $37,374 | $22,071 | 15.7 years |
| 18 kW | $3.27 | $41,152 | $25,724 | 15.4 years |
| 20 kW | $3.19 | $44,730 | $29,577 | 15.0 years |
How to Save on Solar Panels
There are a lot of companies available in East Hanover, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of offerings before deciding.
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 East Hanover, PA Solar Cost FAQs
What is the average cost of installing solar panels in East Hanover?
The average cost of solar panels in East Hanover is about $17,750 for a 5-kW system and $35,500 for a 10-kW system before the ITC, but the actual cost will depend on stuff like 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 East Hanover?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of 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 solar panels significantly reduce my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $743.07 per year.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.