Solar Panel Cost Guide in Deerfield, OH (2024 Update)
- Deerfield Solar Installation Cost: $17,751
- 25-Year Savings: $10,863
- Payback Period: 18.3 Years
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Average Cost of Solar Panels in Deerfield
We go over average solar pricing in Deerfield.
The average cost of a solar panel system in Deerfield is 3 per watt.To account for the typical energy usage of the average home in Deerfield, most homeowners require a 7.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $17,751, or $25,384 before the federal solar tax credit of 0 is applied.
The true cost of your system can be above or below the average in Deerfield based on a few factors, such as the type of solar panels you choose and the solar company you hire.But, after you've paid the initial cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $12,000 over 20 years on utility bills.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Deerfield
| Year | Return on Investment |
|---|---|
| 1 years | $-16,586 |
| 3 years | $-14,256 |
| 5 years | $-11,926 |
| 7 years | $-9,596 |
| 9 years | $-7,266 |
| 11 years | $-4,936 |
| 13 years | $-2,606 |
| 15 years | $-276 |
| 17 years | $2,054 |
| 19 years | $4,384 |
| 21 years | $6,714 |
| 23 years | $9,044 |
| 25 years | $11,374 |
Top Solar Installers in Deerfield
Although it's possible to install solar panels on your own, it involves extra labor and handiness. That's one of the reasons almost all homeowners choose to hire a solar panel installer. The expertise that solar installers provide can be useful as well, particularly if you don’t quite know what brand of solar equipment would be right for your home.
There are a number of licensed solar professionals that can install solar panels for you. 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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 Deerfield
Factors that Affect Solar Panel Costs in Deerfield
Even though the average cost of a solar system in Deerfield is $17,751, your final cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Deerfield, one of the most important 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 overall cost can increase by about $3,410 for each additional kilowatt you need.The type of solar panels and equipment you get is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions 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 researching a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are provided by most installers in Deerfield, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable.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’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Deerfield is the company you choose to install your PV system. As with choosing a company to install new cabinets, for example, there’s no shortage of solar installers that offer a range of services at different price points.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and find a company that provides the products, warranties and services you’re looking for and also is within 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 | $3.55 | $14,895 | $4,622 | 19.1 years |
| 8 kW | $3.48 | $19,478 | $6,544 | 18.7 years |
| 10 kW | $3.41 | $23,870 | $8,657 | 18.3 years |
| 12 kW | $3.34 | $28,071 | $10,962 | 18.0 years |
| 14 kW | $3.27 | $32,081 | $13,457 | 17.6 years |
| 16 kW | $3.21 | $35,900 | $16,143 | 17.2 years |
| 18 kW | $3.14 | $39,529 | $19,021 | 16.9 years |
| 20 kW | $3.07 | $42,966 | $22,089 | 16.5 years |
How to Save on Solar Panels
Since the type of solar panels and the 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 tips to keep in mind to help with your decision:
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Solar Panel Brands: Different companies carry different brands and types of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 Deerfield, OH Solar Cost FAQs
What is the average cost of installing solar panels in Deerfield?
This is a hard question to answer exactly, 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase how much your home is worth?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
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 the amount of sunlight your roof gets. You can 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 install 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.