Solar Panel Cost Guide in Hanover, OH (2024 Update)

  • Hanover Solar Installation Cost: $17,747
  • 25-Year Savings: $16,583
  • Payback Period: 14.8 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Hanover

Let’s have a look at the average cost of solar in Hanover.

The national average cost of solar panels is $2.66 per watt, but in Hanover it’s 3 per watt.The average Hanover homeowner needs a 7.4-kilowatt system, which would cost about $17,747 with the federal tax credit, or $25,378 before the 0 tax credit is applied.

The actual price you pay can be above or below the average in Hanover based on several factors, such as the model of solar panels you choose and the solar company you hire.With typical savings of about $15,000 on energy bills over 20 years, many homeowners in Hanover find investing in solar has a decent ROI.

To receive a free quote from a vetted solar installer in Hanover, you can click the button below.

Solar savings over time in Hanover

Year Return on Investment
1 years $-16,582
3 years $-14,252
5 years $-11,922
7 years $-9,592
9 years $-7,262
11 years $-4,932
13 years $-2,602
15 years $-272
17 years $2,058
19 years $4,388
21 years $6,718
23 years $9,048
25 years $11,378

Top Solar Installers in Hanover

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar panel installer can make switching to solar power much easier. Companies can also offer access to a large variety of the best solar panels and help you decide which one will be right for you.

There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • 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 Hanover

Factors that Affect Solar Panel Costs in Hanover

Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in Hanover: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.

Solar Equipment

Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The type of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, 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 looking into a solar system that’s in your budget.

Solar Financing Terms

For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Hanover, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also increases your all-in costs, so it’s important to consider that as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.

Solar Panel Installation Company

The solar installer you choose will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.

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 $9,239 15.4 years
8 kW $3.48 $19,478 $12,701 15.1 years
10 kW $3.41 $23,870 $16,354 14.8 years
12 kW $3.34 $28,071 $20,198 14.5 years
14 kW $3.27 $32,081 $24,232 14.2 years
16 kW $3.21 $35,900 $28,458 13.9 years
18 kW $3.14 $39,529 $32,874 13.6 years
20 kW $3.07 $42,966 $37,482 13.4 years

How to Save on Solar Panels

The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:

  • Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
  • Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
  • Reputation: Well-established companies 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.
  • Contract: Before you sign a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and what services you can expect from them.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Hanover, OH Solar Cost FAQs

What is the average cost of installing solar panels in Hanover?

The average cost of solar panels in Hanover is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.

Should I lease or buy solar panels in Hanover?

Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to 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 financial benefits from going solar.

Does Hanover have a net metering program?

Most states have net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.

How many solar panels do I need to power my home?

The exact number of solar panels you need depends on your household energy consumption 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 get 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.

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