Solar Panel Cost Guide in Hamilton, OH (2024 Update)
- Hamilton Solar Installation Cost: $17,747
- 25-Year Savings: $17,596
- Payback Period: 14.3 Years
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Average Cost of Solar Panels in Hamilton
We go over average solar pricing in Hamilton.
The national average cost of solar panels is $2.66 per watt, but in Hamilton it’s 3 per watt.The average solar panel system size in Hamilton is around 7.4 kilowatts, meaning a cost of about $17,747 for a solar installation, or $25,378 before the 0 federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Hamilton based on several factors, such as the brand of solar panels you choose and the solar contractor you hire.For most homeowners, the upfront cost of solar panels is worth paying. On average Hamilton homeowners see about $16,000 in savings on electricity bills over 20 years.
To get a free estimate from a highly rated solar installer in Hamilton, you can click the button below.
Solar savings over time in Hamilton
| Year | Return on Investment |
|---|---|
| 1 years | $-16,489 |
| 3 years | $-13,973 |
| 5 years | $-11,458 |
| 7 years | $-8,942 |
| 9 years | $-6,426 |
| 11 years | $-3,910 |
| 13 years | $-1,394 |
| 15 years | $1,121 |
| 17 years | $3,637 |
| 19 years | $6,153 |
| 21 years | $8,669 |
| 23 years | $11,185 |
| 25 years | $13,700 |
Top Solar Installers in Hamilton
Installing solar panels yourself can be a difficult undertaking, which is why getting a solar installer is a good option for many homeowners. Solar warranties and repairs are usually included in the cost of installation when you opt for a solar contractor too, which can save you more money over time.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
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 Hamilton
Factors that Affect Solar Panel Costs in Hamilton
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Hamilton: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,410. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Hamilton, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, 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
Most solar companies in Hamilton provide solar loans, which reduce the initial cost of installing a solar system.Though solar loans make switching to solar energy more accessible for Hamilton homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Hamilton is the company you get to install your solar panel system. As with choosing a company to build a deck or pool, for instance, you’ll have many options for solar installers that offer a range of services for different budgets.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 add-on services like electric vehicle 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 | $3.55 | $14,895 | $10,057 | 14.9 years |
| 8 kW | $3.48 | $19,478 | $13,792 | 14.6 years |
| 10 kW | $3.41 | $23,870 | $17,717 | 14.3 years |
| 12 kW | $3.34 | $28,071 | $21,833 | 14.1 years |
| 14 kW | $3.27 | $32,081 | $26,141 | 13.8 years |
| 16 kW | $3.21 | $35,900 | $30,639 | 13.5 years |
| 18 kW | $3.14 | $39,529 | $35,328 | 13.2 years |
| 20 kW | $3.07 | $42,966 | $40,208 | 12.9 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: Though reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous 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 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 Hamilton, OH Solar Cost FAQs
How much does it cost to install solar panels in Hamilton?
This is a tough question to answer precisely, because the cost depends on many 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 additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you go with 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 certainly one of the most important things to keep in mind 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 the value of your home considerably 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% after installing a solar system."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and how much 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 buy 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.