Solar Panel Cost Guide in Waverly, OH (2024 Update)
- Waverly Solar Installation Cost: $17,670
- 25-Year Savings: $20,480
- Payback Period: 13.1 Years
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Average Cost of Solar Panels in Waverly
We break down average solar pricing in Waverly.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Waverly, the typical cost of a solar system is 3 per watt.The average solar panel system size in Waverly is around 7.4 kilowatts, meaning a cost of about $17,670 for a solar installation, or $25,268 before the 0 federal solar tax credit is applied.
These figures are just averages, and your own solar costs will differ based on your energy needs and what company you want to go with.For many homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Waverly see about $17,000 in savings on utility bills over 20 years.
Click the button below to get connected to a top solar company in your area for a personalized quote.
Solar savings over time in Waverly
| Year | Return on Investment |
|---|---|
| 1 years | $-16,338 |
| 3 years | $-13,674 |
| 5 years | $-11,010 |
| 7 years | $-8,346 |
| 9 years | $-5,682 |
| 11 years | $-3,018 |
| 13 years | $-354 |
| 15 years | $2,310 |
| 17 years | $4,974 |
| 19 years | $7,638 |
| 21 years | $10,302 |
| 23 years | $12,966 |
| 25 years | $15,630 |
Top Solar Installers in Waverly
Many homeowners opt for a solar panel company since installing solar panels on your own can be challenging. Another good thing about using a reliable solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.
If you’d like to start using solar energy but still aren’t certain which solar installer to go with, here are our suggestions for providers near you:
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 Waverly
Factors that Affect Solar Panel Costs in Waverly
The cost of installing a solar system in Waverly 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 your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation use 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 brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Waverly offer solar loans, which reduce your upfront costs of installing solar panels.However, the interest on solar loans also adds to your all-in costs, so it’s vital to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies in Waverly, and each can charge different amounts for labor and equipment.The size of the company sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger 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 | $12,456 | 13.6 years |
| 8 kW | $3.48 | $19,478 | $16,990 | 13.4 years |
| 10 kW | $3.41 | $23,870 | $21,715 | 13.1 years |
| 12 kW | $3.34 | $28,071 | $26,631 | 12.8 years |
| 14 kW | $3.27 | $32,081 | $31,737 | 12.6 years |
| 16 kW | $3.21 | $35,900 | $37,035 | 12.3 years |
| 18 kW | $3.14 | $39,529 | $42,524 | 12.0 years |
| 20 kW | $3.07 | $42,966 | $48,204 | 11.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: Before you sign a contract with a solar installer, make sure you read it through completely so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: If you’re worried about the longevity of your solar energy system, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- 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 significant role in the company you go with.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Waverly, OH Solar Cost FAQs
How much does it cost to install solar panels in Waverly?
The average cost of solar panels in Waverly 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 like the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Waverly?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is it worth going solar in Waverly?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How long do solar panels last in Waverly?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.