Solar Panel Cost Guide in Troy, OH (2024 Update)

  • Troy Solar Installation Cost: $17,901
  • 25-Year Savings: $14,197
  • Payback Period: 16.2 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Troy

Find out what the average cost of solar panel installation is in Troy.

The national average cost of solar panels is $2.66 per watt, but in Troy it’s 3 per watt.Since a 7.5-kW system is needed to cover the energy consumption of a typical home in Troy, the average price of going solar will be about $17,901 after claiming the federal solar tax credit of 0.

The actual price you pay can go higher or lower than the average in Troy depending on a variety of factors, such as the brand of solar panels you choose and the solar company you hire.But, once you've paid the initial cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $14,000 over 20 years on energy bills.

To calculate your potential savings and connect with a local solar installer, click the button below.

Solar savings over time in Troy

Year Return on Investment
1 years $-16,883
3 years $-14,846
5 years $-12,809
7 years $-10,773
9 years $-8,736
11 years $-6,700
13 years $-4,663
15 years $-2,627
17 years $-590
19 years $1,447
21 years $3,483
23 years $5,520
25 years $7,556

Top Solar Installers in Troy

Many homeowners opt for a solar installer since installing solar panels on your own can be challenging. Plus, warranties and repairs from your solar panel installer can protect your investment and lower the cost of maintenance over the lifespan of your panels.

If you're searching for a solar installer in Troy, we've compiled a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • 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 Troy

Factors that Affect Solar Panel Costs in Troy

The cost of installing a solar system in Troy can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.

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 power your household consumes, the larger your system will likely need to be. You can expect to pay around $3,410 per kilowatt in Troy.The type of solar panels and equipment you want is another factor that will largely impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions 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 looking for a solar system that falls within your budget.

Solar Financing Terms

Many homeowners find the average cost of solar in Troy to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest.You’ll have to consider the long-term cost of financing options, including the amount of 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 getting a solar loan with a low APR could reduce your costs significantly.

Solar Panel Installation Company

The final significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Troy, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions 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 $7,216 16.8 years
8 kW $3.48 $19,478 $10,003 16.5 years
10 kW $3.41 $23,870 $12,981 16.2 years
12 kW $3.34 $28,071 $16,150 15.9 years
14 kW $3.27 $32,081 $19,510 15.5 years
16 kW $3.21 $35,900 $23,062 15.2 years
18 kW $3.14 $39,529 $26,804 14.9 years
20 kW $3.07 $42,966 $30,736 14.6 years

How to Save on Solar Panels

The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:

  • Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
  • Contract: Even though reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
  • 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 go with.
  • Warranty: An all-inclusive, 25-year warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Troy, OH Solar Cost FAQs

How much does it cost to install solar panels in Troy?

The average cost of solar panels in Troy 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 certain factors such as 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 Troy?

Solar panels aren’t free in Troy, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Can you sell solar power back to the grid in Troy?

The majority of states offer net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.

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 larger 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.

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