Solar Panel Cost Guide in Knox, OH (2024 Update)
- Knox Solar Installation Cost: $18,548
- 25-Year Savings: $16,495
- Payback Period: 15.2 Years
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Average Cost of Solar Panels in Knox
We go over average solar pricing in Knox.
In Knox, solar panels cost about 3 per watt on average.To cover the typical energy usage of the average home in Knox, most homeowners require a 7.8-kilowatt system. Using the figure above, a solar installation costs around $18,548, or $26,524 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average Knox homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find going solar is a solid investment. The average homeowner in Knox can save about $15,000 on their power bills over 20 years.
To get a free quote from a highly rated solar installer in Knox, you can click the button below.
Solar savings over time in Knox
| Year | Return on Investment |
|---|---|
| 1 years | $-17,216 |
| 3 years | $-14,552 |
| 5 years | $-11,888 |
| 7 years | $-9,224 |
| 9 years | $-6,560 |
| 11 years | $-3,896 |
| 13 years | $-1,232 |
| 15 years | $1,432 |
| 17 years | $4,096 |
| 19 years | $6,760 |
| 21 years | $9,424 |
| 23 years | $12,088 |
| 25 years | $14,752 |
Top Solar Installers in Knox
Many homeowners opt for a solar installer since installing solar panels yourself can be a labor-intensive endeavor. The expertise that solar installers provide can be helpful 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 take care of your solar installation project. 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 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 Knox
Factors that Affect Solar Panel Costs in Knox
Even though the average cost of a solar system in Knox is $18,548, your final cost may differ. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Knox provide solar loans, which reduce the initial cost of installing solar panels.You’ll have to consider the long-term cost of financing options, including the amount of 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 getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you hire to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Knox, and each can charge different amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $8,594 | 15.9 years |
| 8 kW | $3.48 | $19,478 | $11,840 | 15.5 years |
| 10 kW | $3.41 | $23,870 | $15,278 | 15.2 years |
| 12 kW | $3.34 | $28,071 | $18,906 | 14.9 years |
| 14 kW | $3.27 | $32,081 | $22,726 | 14.6 years |
| 16 kW | $3.21 | $35,900 | $26,736 | 14.3 years |
| 18 kW | $3.14 | $39,529 | $30,938 | 14.0 years |
| 20 kW | $3.07 | $42,966 | $35,330 | 13.7 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Knox, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: When reading through your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
- Reputation: Companies that have been operating for many years likely have a good 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 service, such as part repairs and replacements.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Knox, OH Solar Cost FAQs
How much does it cost to install solar panels in Knox?
This is a hard question to answer exactly, because the cost depends on a variety of 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 higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Knox?
You can’t get solar panels for free in Knox. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Does Knox have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage 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.