Solar Panel Cost Guide in Cincinnati, IL (2024 Update)
- Cincinnati Solar Installation Cost: $16,749
- 25-Year Savings: $11,042
- Payback Period: 18.0 Years
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Average Cost of Solar Panels in Cincinnati
Let’s take a look at the average cost of solar panels in Cincinnati.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cincinnati, the average cost of solar panels is 4 per watt.The average solar panel system size in Cincinnati is around 6.4 kilowatts, meaning a cost of about $16,749 for a solar installation, or $23,951 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Cincinnati homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Even with the high upfront cost, the average Cincinnati homeowner can save about $14,000 on their electricity bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a highly rated solar company in your area for a custom quote.
Solar savings over time in Cincinnati
| Year | Return on Investment |
|---|---|
| 1 years | $-15,898 |
| 3 years | $-14,197 |
| 5 years | $-12,496 |
| 7 years | $-10,795 |
| 9 years | $-9,093 |
| 11 years | $-7,392 |
| 13 years | $-5,691 |
| 15 years | $-3,989 |
| 17 years | $-2,288 |
| 19 years | $-587 |
| 21 years | $1,115 |
| 23 years | $2,816 |
| 25 years | $4,517 |
Top Solar Installers in Cincinnati
Trying to put up solar panels by yourself can be a challenging project, which is why using a solar installer is a good option for many homeowners. 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.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Cincinnati
Factors that Affect Solar Panel Costs in Cincinnati
For many Cincinnati homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Cincinnati, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with better 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 $3,760.The type of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment consists of more than just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that’s in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a popular route because they lower 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 the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can play a part in determining the cost. Cincinnati’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional 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 | $3.91 | $16,424 | $5,453 | 18.8 years |
| 8 kW | $3.84 | $21,477 | $7,692 | 18.4 years |
| 10 kW | $3.76 | $26,320 | $10,142 | 18.0 years |
| 12 kW | $3.68 | $30,952 | $12,802 | 17.7 years |
| 14 kW | $3.61 | $35,374 | $15,673 | 17.3 years |
| 16 kW | $3.53 | $39,585 | $18,754 | 17.0 years |
| 18 kW | $3.46 | $43,586 | $22,045 | 16.6 years |
| 20 kW | $3.38 | $47,376 | $25,548 | 16.2 years |
How to Save on Solar Panels
There are a lot of companies available in Cincinnati, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Different companies offer various brands and types of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
- Contract: Before signing a contract with a solar installer, be sure to read it through carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Installation Process: When going solar, it’s necessary to maintain an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project completion timeline.
- Reputation: Make sure your solar panel installer has a good reputation by confirming 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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Cincinnati, IL Solar Cost FAQs
What is the average cost of installing solar panels in Cincinnati?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Cincinnati?
Leasing solar panels can be an appealing choice, because it typically 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 solar panels eliminate my power bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Cincinnati, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out 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 home 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.