Solar Panel Cost Guide in Moraine, OH (2024 Update)
- Moraine Solar Installation Cost: $17,915
- 25-Year Savings: $9,455
- Payback Period: 19.6 Years
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Average Cost of Solar Panels in Moraine
Find out how much it might cost to install solar panels in Moraine.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Moraine, the typical cost of solar panels is 3 per watt.Because a 7.5-kW system is needed to cover the energy consumption of a typical home in Moraine, the average price of going solar will be about $17,915 after claiming the federal solar tax credit of 0.
The true price you pay can go higher or lower than the average in Moraine depending on a few factors, such as the kind of solar panels you choose and the solar installer you hire.Despite the significant initial cost, the average Moraine homeowner can save about $12,000 on their power bills over 20 years, which is one of the perks of solar.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Moraine
| Year | Return on Investment |
|---|---|
| 1 years | $-16,860 |
| 3 years | $-14,750 |
| 5 years | $-12,640 |
| 7 years | $-10,530 |
| 9 years | $-8,420 |
| 11 years | $-6,310 |
| 13 years | $-4,200 |
| 15 years | $-2,090 |
| 17 years | $20 |
| 19 years | $2,130 |
| 21 years | $4,239 |
| 23 years | $6,349 |
| 25 years | $8,459 |
Top Solar Installers in Moraine
When switching to solar energy, many homeowners prefer to go with a solar company since installing solar panels yourself can be a challenging project. Companies can also have access to a large variety of the best solar panels and help you decide which one will be right for you.
If you're looking for a solar company in Moraine, the EcoWatch team has compiled a list of our top suggestions here:
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 Moraine
Factors that Affect Solar Panel Costs in Moraine
There are a number of factors that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production require 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 brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Moraine, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, 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 companies in Moraine have solar loans, which reduce the initial cost of installing a solar system.It’s wise to include 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
The last major cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Moraine, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.The company’s size sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger 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 | $3,416 | 20.3 years |
| 8 kW | $3.48 | $19,478 | $4,937 | 19.9 years |
| 10 kW | $3.41 | $23,870 | $6,648 | 19.6 years |
| 12 kW | $3.34 | $28,071 | $8,551 | 19.2 years |
| 14 kW | $3.27 | $32,081 | $10,644 | 18.8 years |
| 16 kW | $3.21 | $35,900 | $12,929 | 18.4 years |
| 18 kW | $3.14 | $39,529 | $15,404 | 18.0 years |
| 20 kW | $3.07 | $42,966 | $18,070 | 17.6 years |
How to Save on Solar Panels
There are a lot of companies available in Moraine, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: Warranties that provide coverage for defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one mark of a good company.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before making your decision.
- Contract: Look through the contract terms carefully to make sure you understand the total cost, project completion timeline incentives and warranties.
- Installation Process: Make sure you’re on the same page with the installer with regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
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 Moraine, OH Solar Cost FAQs
How much does it cost to install solar panels in Moraine?
The average cost of solar panels in Moraine 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 model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Moraine?
Solar panels aren’t free in Moraine, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.