Solar Panel Cost Guide in Greentown, OH (2024 Update)
- Greentown Solar Installation Cost: $18,563
- 25-Year Savings: $13,327
- Payback Period: 17.0 Years
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Average Cost of Solar Panels in Greentown
Let’s take a look at the average cost of solar panels in Greentown.
The national average cost of solar panels is $2.66 per watt, but in Greentown it’s 3 per watt.To cover the typical energy needs of the average home in Greentown, most homeowners require a 7.8-kilowatt system. Using the figure above, a solar installation costs around $18,563, or $26,545 before the federal solar tax credit of 0 is applied.
These figures are just averages, and the cost of going solar for you will most likely vary based on factors unique to your home and what company you choose to go with.Many homeowners find installing a solar system is a solid investment. The average homeowner in Greentown can save around $13,000 on their energy bills over 20 years.
You can click the button below to get connected with a top solar installer in Greentown that can help you get a more accurate cost estimate for your home.
Solar savings over time in Greentown
| Year | Return on Investment |
|---|---|
| 1 years | $-17,343 |
| 3 years | $-14,903 |
| 5 years | $-12,462 |
| 7 years | $-10,022 |
| 9 years | $-7,581 |
| 11 years | $-5,141 |
| 13 years | $-2,700 |
| 15 years | $-260 |
| 17 years | $2,181 |
| 19 years | $4,621 |
| 21 years | $7,062 |
| 23 years | $9,502 |
| 25 years | $11,943 |
Top Solar Installers in Greentown
Installing solar panels yourself can be a time-consuming undertaking, which is why hiring a solar installation company is a good option for many homeowners. Plus, if you’re not certain what type of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
If you’d like to go solar but still aren’t sure which solar company to go with, here are our recommendations for providers 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 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 Greentown
Factors that Affect Solar Panel Costs in Greentown
For many Greentown homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Greentown, with typical prices between $20,000 to $40,000. There are several factors that greatly 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 few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production require 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 $3,410.The kind of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment is more than 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
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Greentown homeowners choose to finance their solar panel systems to make going solar more affordable.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you go with to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar panel companies in Greentown, and each can charge varying amounts for labor and equipment.Additionally, some companies in Greentown have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, 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 | $6,139 | 17.7 years |
| 8 kW | $3.48 | $19,478 | $8,568 | 17.4 years |
| 10 kW | $3.41 | $23,870 | $11,187 | 17.0 years |
| 12 kW | $3.34 | $28,071 | $13,998 | 16.7 years |
| 14 kW | $3.27 | $32,081 | $16,999 | 16.3 years |
| 16 kW | $3.21 | $35,900 | $20,191 | 16.0 years |
| 18 kW | $3.14 | $39,529 | $23,574 | 15.7 years |
| 20 kW | $3.07 | $42,966 | $27,148 | 15.3 years |
How to Save on Solar Panels
The solar installer you go with will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, including:
- Contract: Review the contract terms carefully to make sure you understand the total cost, project completion timeline incentives and warranties.
- Installation Process: Make sure you’re aligned with the installer with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating or replacing your electrical system or roof.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely provide quality solar panel installation and expertise.
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 Greentown, OH Solar Cost FAQs
What is the average cost of installing solar panels in Greentown?
This is a tough 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. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is a very important factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How will solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Greentown is currently $322,837, so you can expect a value of about $13,236 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Greentown is a fruitful investment.
How many solar panels should I get to power 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 house 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.