Solar Panel Cost Guide in Lebanon, OH (2024 Update)
- Lebanon Solar Installation Cost: $17,751
- 25-Year Savings: $11,374
- Payback Period: 17.4 Years
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Average Cost of Solar Panels in Lebanon
Let’s have a look at the average cost of solar panels in Lebanon.
The national average cost of solar panels is $2.66 per watt, but in Lebanon it’s 3 per watt.The average Lebanon homeowner needs a 7.4-kilowatt system, which would cost about $17,751 with the federal tax credit, or $25,384 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of equipment you want to get, your solar contractor and more.Even with the large upfront cost, the average Lebanon homeowner can save around $13,000 on their power bills over 20 years, which is one of the advantages of solar.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Lebanon
| Year | Return on Investment |
|---|---|
| 1 years | $-16,586 |
| 3 years | $-14,256 |
| 5 years | $-11,926 |
| 7 years | $-9,596 |
| 9 years | $-7,266 |
| 11 years | $-4,936 |
| 13 years | $-2,606 |
| 15 years | $-276 |
| 17 years | $2,054 |
| 19 years | $4,384 |
| 21 years | $6,714 |
| 23 years | $9,044 |
| 25 years | $11,374 |
Top Solar Installers in Lebanon
When making the switch to solar, many homeowners prefer to use a solar company since overseeing your solar installation yourself can be a time-consuming project. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance over time.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Lebanon:
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 Lebanon
Factors that Affect Solar Panel Costs in Lebanon
Even though the average cost of a solar system in Lebanon is $17,751, your final cost may differ. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,410.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Lebanon, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of 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 installers in Lebanon provide solar loans, which reduce your upfront costs of installing solar panels.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you can only 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 securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Lebanon is the company you hire to install your PV system. Similar to choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that offer a range of services at different costs.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $5,726 | 18.1 years |
| 8 kW | $3.48 | $19,478 | $8,017 | 17.7 years |
| 10 kW | $3.41 | $23,870 | $10,498 | 17.4 years |
| 12 kW | $3.34 | $28,071 | $13,171 | 17.0 years |
| 14 kW | $3.27 | $32,081 | $16,034 | 16.7 years |
| 16 kW | $3.21 | $35,900 | $19,089 | 16.3 years |
| 18 kW | $3.14 | $39,529 | $22,334 | 16.0 years |
| 20 kW | $3.07 | $42,966 | $25,771 | 15.6 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the gold standard in the business, and offering such a warranty is one mark of a quality company.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Solar Panel Brands: The type of solar panel you want plays a role in which company you should go with, since different companies have access to different panels.
- Contract: Even though reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 Lebanon, OH Solar Cost FAQs
What is the average cost of installing solar panels in Lebanon?
The average cost of solar panels in Lebanon 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 stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Lebanon?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property 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.
How much can I save on electricity bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Lebanon, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.