Solar Panel Cost Guide in Covedale, OH (2024 Update)
- Covedale Solar Installation Cost: $17,636
- 25-Year Savings: $10,949
- Payback Period: 18.2 Years
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Average Cost of Solar Panels in Covedale
Find out what the average cost of a solar system is in Covedale.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Covedale, the typical cost of solar panels is 3 per watt.To cover the typical energy needs of the average home in Covedale, most homeowners require a 7.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $17,636, or $25,219 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy needs, the type of solar panels you want, your solar contractor and more.But, once you've paid the upfront cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $12,000 over 20 years on utility bills.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Covedale
| Year | Return on Investment |
|---|---|
| 1 years | $-16,471 |
| 3 years | $-14,141 |
| 5 years | $-11,811 |
| 7 years | $-9,481 |
| 9 years | $-7,151 |
| 11 years | $-4,821 |
| 13 years | $-2,491 |
| 15 years | $-161 |
| 17 years | $2,169 |
| 19 years | $4,499 |
| 21 years | $6,828 |
| 23 years | $9,158 |
| 25 years | $11,488 |
Top Solar Installers in Covedale
When switching to solar energy, many homeowners opt to use a solar installer since putting up solar panels yourself can be a difficult project. The payback period on an investment in solar panels will vary based 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 identify incentives available in your area.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Covedale
Factors that Affect Solar Panel Costs in Covedale
The cost of installing a solar system in Covedale can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,410.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Covedale, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Covedale to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in a higher cost over time due to interest.You’ll have to consider the long-term cost of financing options, including the total 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 significantly.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Covedale is the company you hire to install your solar system. As with choosing a company to renovate your kitchen, for instance, you’ll have no shortage of solar installers that provide a range of services for different budgets.You may come across national solar installers that have lower prices due to their larger brand name and access to bulk equipment 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 | $3.55 | $14,895 | $4,748 | 19.0 years |
| 8 kW | $3.48 | $19,478 | $6,713 | 18.6 years |
| 10 kW | $3.41 | $23,870 | $8,868 | 18.2 years |
| 12 kW | $3.34 | $28,071 | $11,215 | 17.9 years |
| 14 kW | $3.27 | $32,081 | $13,752 | 17.5 years |
| 16 kW | $3.21 | $35,900 | $16,481 | 17.1 years |
| 18 kW | $3.14 | $39,529 | $19,400 | 16.8 years |
| 20 kW | $3.07 | $42,966 | $22,511 | 16.4 years |
How to Save on Solar Panels
The solar panel company you go with will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, such as:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
- Contract: Read the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Covedale, OH Solar Cost FAQs
What is the average cost of installing solar panels in Covedale?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.