Solar Panel Cost Guide in London, OH (2024 Update)
- London Solar Installation Cost: $17,798
- 25-Year Savings: $15,438
- Payback Period: 15.5 Years
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Average Cost of Solar Panels in London
Find out what the average cost of a solar system is in London.
In London, solar panels cost about 3 per watt on average.The average London homeowner needs a 7.5-kilowatt system, which would cost about $17,798 with the federal tax credit, or $25,451 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy use, the type of solar system you choose, your solar contractor and more.With typical savings of about $15,000 on power bills over 20 years, many homeowners in London find installing solar panels can be quite rewarding.
To receive a free quote from a vetted solar installer in London, you can click the button below.
Solar savings over time in London
| Year | Return on Investment |
|---|---|
| 1 years | $-16,780 |
| 3 years | $-14,744 |
| 5 years | $-12,707 |
| 7 years | $-10,670 |
| 9 years | $-8,634 |
| 11 years | $-6,597 |
| 13 years | $-4,561 |
| 15 years | $-2,524 |
| 17 years | $-487 |
| 19 years | $1,549 |
| 21 years | $3,586 |
| 23 years | $5,622 |
| 25 years | $7,659 |
Top Solar Installers in London
When switching to solar energy, many homeowners choose to go with a solar installation company since installing a solar system yourself can be a time-consuming project. Another great thing about going with a reputable solar installer is that it'll provide warranties and free repairs, which help protect your solar system 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 nearby:
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 London
Factors that Affect Solar Panel Costs in London
Although the average cost of a solar system in London is $17,798, your final cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $3,410 per kilowatt in London.The kind of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on 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
If paying for solar panels out of pocket is difficult, solar loans are a popular route because they decrease your upfront costs and let you pay for your system over five to seven years on average.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in London is the company you choose to install your solar panel system. Similar to choosing a company to build a deck or pool, for instance, you’ll have no shortage of solar installers that provide a range of services at different price points.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions 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 | $8,280 | 16.1 years |
| 8 kW | $3.48 | $19,478 | $11,421 | 15.8 years |
| 10 kW | $3.41 | $23,870 | $14,754 | 15.5 years |
| 12 kW | $3.34 | $28,071 | $18,278 | 15.1 years |
| 14 kW | $3.27 | $32,081 | $21,992 | 14.8 years |
| 16 kW | $3.21 | $35,900 | $25,898 | 14.5 years |
| 18 kW | $3.14 | $39,529 | $29,995 | 14.2 years |
| 20 kW | $3.07 | $42,966 | $34,282 | 13.9 years |
How to Save on Solar Panels
The solar installer you go with will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, such as:
- Solar Panel Brands: The brand of solar panel you want plays a part in which company you should opt for, since different companies have different panels.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully 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 London, OH Solar Cost FAQs
How much does it cost to install solar panels in London?
The average cost of solar panels in London is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the type 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 London?
Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
How much can I save on power bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in London, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home 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.