Solar Panel Cost Guide in Olive, OH (2024 Update)
- Olive Solar Installation Cost: $18,309
- 25-Year Savings: $26,880
- Payback Period: 11.3 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Olive
We go over average solar pricing in Olive.
The average cost of solar panels in Olive is 3 per watt.Since a 7.7-kW system is needed to cover the energy needs of a typical home in Olive, the average price of going solar will be about $18,309 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average energy use of Olive homeowners. 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.With average savings of about $20,000 on utility bills over 20 years, many homeowners in Olive find installing solar panels can pay off big.
To get a free quote from a top solar company in Olive, you can click the button below.
Solar savings over time in Olive
Year | Return on Investment |
---|---|
1 years | $-16,783 |
3 years | $-13,732 |
5 years | $-10,681 |
7 years | $-7,630 |
9 years | $-4,579 |
11 years | $-1,527 |
13 years | $1,524 |
15 years | $4,575 |
17 years | $7,626 |
19 years | $10,677 |
21 years | $13,728 |
23 years | $16,779 |
25 years | $19,830 |
Top Solar Installers in Olive
Putting up solar panels on your own can be a challenging project, which is why getting a solar installer is a good option for many homeowners. Plus, if you aren’t sure what type of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Olive
Factors that Affect Solar Panel Costs in Olive
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that determine your overall cost in Olive: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend around $3,410 per kilowatt in Olive.The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are provided by most installers in Olive, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.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 considerably.
Solar Panel Installation Company
The solar panel installation company you pick will affect your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor.You may come across national solar installers that have lower prices due to their larger brand name and access to bulk pricing, 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 | $16,884 | 11.7 years |
8 kW | $3.48 | $19,478 | $22,894 | 11.5 years |
10 kW | $3.41 | $23,870 | $29,095 | 11.3 years |
12 kW | $3.34 | $28,071 | $35,486 | 11.0 years |
14 kW | $3.27 | $32,081 | $42,069 | 10.8 years |
16 kW | $3.21 | $35,900 | $48,843 | 10.6 years |
18 kW | $3.14 | $39,529 | $55,808 | 10.4 years |
20 kW | $3.07 | $42,966 | $62,963 | 10.1 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
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 Olive, OH Solar Cost FAQs
How much does it cost to install solar panels in Olive?
The average cost of solar panels in Olive 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Olive?
A solar panel system isn’t free in Olive, but there are some options that can make getting them more affordable, 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 going solar worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs 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.