Solar Panel Cost Guide in Park Layne, OH (2024 Update)
- Park Layne Solar Installation Cost: $17,780
- 25-Year Savings: $12,875
- Payback Period: 17.0 Years
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Average Cost of Solar Panels in Park Layne
Find out what the average cost of installing solar panels is in Park Layne.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Park Layne, the typical cost of solar panels is 3 per watt.The average solar panel system size in Park Layne is around 7.4 kilowatts, meaning a cost of about $17,780 for a solar installation, or $25,425 before the 0 federal solar tax credit is applied.
The true price you pay can be higher or lower than the average in Park Layne depending on several factors, such as the brand of solar panels you choose and the solar company you hire.But, once you've paid the upfront cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $13,000 over 20 years on utility bills.
To get a free quote from a highly rated solar company in Park Layne, you can click the button below.
Solar savings over time in Park Layne
| Year | Return on Investment |
|---|---|
| 1 years | $-16,762 |
| 3 years | $-14,725 |
| 5 years | $-12,689 |
| 7 years | $-10,652 |
| 9 years | $-8,616 |
| 11 years | $-6,579 |
| 13 years | $-4,542 |
| 15 years | $-2,506 |
| 17 years | $-469 |
| 19 years | $1,567 |
| 21 years | $3,604 |
| 23 years | $5,641 |
| 25 years | $7,677 |
Top Solar Installers in Park Layne
Installing solar panels on your own can be a challenging task, which is why hiring a solar installer is a good option for many homeowners. Another great thing about going with a vetted solar installer is that it'll usually provide warranties and free repairs, which help protect your investment.
If you’d like to go solar but still aren’t certain which solar company to go with, here are our recommendations for providers 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 Park Layne
Factors that Affect Solar Panel Costs in Park Layne
There are many factors that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production need 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.The model of solar panels and equipment you get is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about 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
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Park Layne homeowners choose to finance their solar panel systems to make paying for solar more affordable.Though solar loans make adopting solar energy more accessible for Park Layne homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you choose will play a role in your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.You may notice national solar installers that have lower prices because of 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 major players.
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 | $6,228 | 17.6 years |
| 8 kW | $3.48 | $19,478 | $8,686 | 17.3 years |
| 10 kW | $3.41 | $23,870 | $11,335 | 17.0 years |
| 12 kW | $3.34 | $28,071 | $14,174 | 16.6 years |
| 14 kW | $3.27 | $32,081 | $17,205 | 16.3 years |
| 16 kW | $3.21 | $35,900 | $20,427 | 15.9 years |
| 18 kW | $3.14 | $39,529 | $23,839 | 15.6 years |
| 20 kW | $3.07 | $42,966 | $27,443 | 15.3 years |
How to Save on Solar Panels
There are numerous companies to choose from in Park Layne, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
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 Park Layne, OH Solar Cost FAQs
How much does it cost to install solar panels in Park Layne?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Do solar panels increase your home value?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount 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.