Solar Panel Cost Guide in Gilead, OH (2024 Update)
- Gilead Solar Installation Cost: $18,303
- 25-Year Savings: $16,007
- Payback Period: 15.4 Years
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Average Cost of Solar Panels in Gilead
We go over average solar pricing in Gilead.
In Gilead, solar panels cost about 3 per watt on average.To account for the typical energy needs of the average home in Gilead, most homeowners require a 7.7-kilowatt system. Using the figure above, a solar installation costs around $18,303, or $26,173 before the federal solar tax credit of 0 is applied.
Keep in mind 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 system you want, your solar contractor and more.Despite the significant upfront cost, the average Gilead homeowner can save around $15,000 on their energy bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a top solar company in Gilead for a custom estimate.
Solar savings over time in Gilead
| Year | Return on Investment |
|---|---|
| 1 years | $-17,083 |
| 3 years | $-14,643 |
| 5 years | $-12,202 |
| 7 years | $-9,762 |
| 9 years | $-7,321 |
| 11 years | $-4,881 |
| 13 years | $-2,440 |
| 15 years | $0 |
| 17 years | $2,441 |
| 19 years | $4,881 |
| 21 years | $7,322 |
| 23 years | $9,762 |
| 25 years | $12,202 |
Top Solar Installers in Gilead
Although you can install solar panels on your own, it takes extra time and handiness. That's one of the reasons most people choose a solar panel installer. The expertise that solar companies provide can be helpful as well, especially if you aren’t sure what type of solar equipment would be right for your home.
If you're on the hunt for a solar installer in Gilead, the EcoWatch team has compiled a list of our top suggestions here:
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Gilead
Factors that Affect Solar Panel Costs in Gilead
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that will push your cost above or below the average in Gilead: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $3,410 per kilowatt in Gilead.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Gilead, where sunlight isn’t as abundant, efficiency can quickly pay off. Plus, 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
If paying for solar panels out of pocket is out of reach, solar loans are a solid route because they decrease your upfront costs and allow you to pay for your system over five to seven years on average.Although solar loans make adopting solar energy more accessible for Gilead homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can influence the cost. Gilead’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Gilead know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $8,382 | 16.0 years |
| 8 kW | $3.48 | $19,478 | $11,558 | 15.7 years |
| 10 kW | $3.41 | $23,870 | $14,925 | 15.4 years |
| 12 kW | $3.34 | $28,071 | $18,483 | 15.1 years |
| 14 kW | $3.27 | $32,081 | $22,232 | 14.8 years |
| 16 kW | $3.21 | $35,900 | $26,172 | 14.5 years |
| 18 kW | $3.14 | $39,529 | $30,303 | 14.2 years |
| 20 kW | $3.07 | $42,966 | $34,625 | 13.8 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Different companies will have different brands and types of panels. If you prefer a specific brand, make sure the solar company you’re considering has it.
- Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what you need to do before your solar system is installed, such as repairing your electrical system or roof.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Gilead, OH Solar Cost FAQs
How much does it cost to install solar panels in Gilead?
The average cost of solar panels in Gilead is about $17,050 for a 5-kW system and $34,100 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.
Should I lease or buy solar panels in Gilead?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home 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.
How will installing solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Gilead is currently $214,695, so you can look forward to a value of about $8,802 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Gilead is a fruitful investment.
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 average daily 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 install between 20 and 35 panels to account for 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.