Solar Panel Cost Guide in New Lexington, OH (2024 Update)
- New Lexington Solar Installation Cost: $17,961
- 25-Year Savings: $16,782
- Payback Period: 14.8 Years
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Average Cost of Solar Panels in New Lexington
Find out what the average cost of a solar system is in New Lexington.
The national average cost of solar panels is $2.66 per watt, but in New Lexington it’s 3 per watt.Since a 7.5-kW system is needed to cover the energy costs of a typical home in New Lexington, the average price of going solar will be about $17,961 after claiming the federal solar tax credit of 0.
These figures are just averages, and the cost of going solar for you may look different based on your specific situation and what company you want to go with.Even with the high upfront cost, the average New Lexington homeowner can save around $15,000 on their power bills over 20 years, which is one of the perks of solar.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in New Lexington
| Year | Return on Investment |
|---|---|
| 1 years | $-16,629 |
| 3 years | $-13,965 |
| 5 years | $-11,301 |
| 7 years | $-8,637 |
| 9 years | $-5,973 |
| 11 years | $-3,309 |
| 13 years | $-645 |
| 15 years | $2,019 |
| 17 years | $4,683 |
| 19 years | $7,347 |
| 21 years | $10,011 |
| 23 years | $12,675 |
| 25 years | $15,339 |
Top Solar Installers in New Lexington
Many homeowners opt for a solar installation company since trying to put up solar panels by yourself can be hard. Another advantage of utilizing a solar company is that they can help you make the most of your ROI by reducing your future costs of repairs and replacements with the help of warranties and giving you information on local incentives you can take advantage of.
Working with a professional solar installer can make going solar easier. Here are our recommendations:
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 New Lexington
Factors that Affect Solar Panel Costs in New Lexington
The cost of installing a solar system in New Lexington can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,410. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your power bills. In addition, add-on products, like solar batteries, can bump up your total well above the New Lexington average.
Solar Financing Terms
Most solar installers in New Lexington have solar loans, which reduce the initial cost of installing solar panels.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installation company you select will impact your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and find a company that provides the products, warranties and services you’re looking for and also is within your budget.
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 | $9,238 | 15.4 years |
| 8 kW | $3.48 | $19,478 | $12,700 | 15.1 years |
| 10 kW | $3.41 | $23,870 | $16,352 | 14.8 years |
| 12 kW | $3.34 | $28,071 | $20,196 | 14.5 years |
| 14 kW | $3.27 | $32,081 | $24,230 | 14.2 years |
| 16 kW | $3.21 | $35,900 | $28,455 | 13.9 years |
| 18 kW | $3.14 | $39,529 | $32,871 | 13.6 years |
| 20 kW | $3.07 | $42,966 | $37,479 | 13.4 years |
How to Save on Solar Panels
There are a large number of companies to choose from in New Lexington, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: When going solar, it’s important to maintain an open line of communication with your solar company. Make sure you understand how the installation process works and the project completion timeline.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
- Contract: When reading through your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
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 New Lexington, OH Solar Cost FAQs
How much does it cost to install solar panels in New Lexington?
The average cost of solar panels in New Lexington 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 things like the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in New Lexington?
A solar panel system isn’t free in New Lexington, 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 can further reduce the cost.
Is going solar worth it?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.