Solar Panel Cost Guide in South Point, OH (2024 Update)
- South Point Solar Installation Cost: $17,642
- 25-Year Savings: $20,210
- Payback Period: 13.2 Years
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Average Cost of Solar Panels in South Point
Let’s take a look at the average cost of solar panels in South Point.
Currently, the national average cost of solar panels is $2.66 per watt. However, in South Point, the average cost of solar panels is 3 per watt.To cover the typical energy usage of the average home in South Point, most homeowners require a 7.4-kilowatt system. Using the per-watt figure above, a solar installation costs around $17,642, or $25,228 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of South Point homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.With typical savings of about $17,000 on energy bills over 20 years, many homeowners in South Point find installing solar panels can pay off big.
Click the button below to get connected to a highly rated solar panel company in your area for a personalized estimate.
Solar savings over time in South Point
| Year | Return on Investment |
|---|---|
| 1 years | $-16,310 |
| 3 years | $-13,646 |
| 5 years | $-10,982 |
| 7 years | $-8,318 |
| 9 years | $-5,654 |
| 11 years | $-2,990 |
| 13 years | $-326 |
| 15 years | $2,338 |
| 17 years | $5,002 |
| 19 years | $7,666 |
| 21 years | $10,330 |
| 23 years | $12,994 |
| 25 years | $15,658 |
Top Solar Installers in South Point
Trying to put up solar panels on your own can be a time-consuming undertaking, which is why getting a solar installation company is a good option for many homeowners. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be best for your home.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in South Point
Factors that Affect Solar Panel Costs in South Point
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that affect your total cost in South Point: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,410.The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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 limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in South Point offer 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 choose to 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 choose will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in South Point have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $12,263 | 13.7 years |
| 8 kW | $3.48 | $19,478 | $16,733 | 13.4 years |
| 10 kW | $3.41 | $23,870 | $21,393 | 13.2 years |
| 12 kW | $3.34 | $28,071 | $26,245 | 12.9 years |
| 14 kW | $3.27 | $32,081 | $31,287 | 12.7 years |
| 16 kW | $3.21 | $35,900 | $36,521 | 12.4 years |
| 18 kW | $3.14 | $39,529 | $41,945 | 12.1 years |
| 20 kW | $3.07 | $42,966 | $47,561 | 11.9 years |
How to Save on Solar Panels
There are a large number of companies available in South Point, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Solar Panel Brands: Different companies will have various brands and types of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely provide high-quality solar panel installation and expertise.
- Warranty: If you’re worried about the endurance of your solar panel system, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's South Point, OH Solar Cost FAQs
How much does it cost to install solar panels in South Point?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in South Point?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
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 consumption and the average daily sunlight your roof gets. You can take a 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 account for 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.