Solar Panel Cost Guide in Wayne, OH (2024 Update)
- Wayne Solar Installation Cost: $17,751
- 25-Year Savings: $10,634
- Payback Period: 18.5 Years
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Average Cost of Solar Panels in Wayne
Find out what the average cost of solar panels are in Wayne.
The national average cost of solar panels is $2.66 per watt, but in Wayne it’s 3 per watt.The average solar panel system size in Wayne is around 7.4 kilowatts, meaning a cost of about $17,751 for a solar installation, or $25,384 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Wayne homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With typical savings of about $12,000 on utility bills over 20 years, many homeowners in Wayne find installing solar panels has a decent ROI.
Click the button below to get connected to a vetted solar panel company in your area for a customized quote.
Solar savings over time in Wayne
| Year | Return on Investment |
|---|---|
| 1 years | $-16,586 |
| 3 years | $-14,256 |
| 5 years | $-11,926 |
| 7 years | $-9,596 |
| 9 years | $-7,266 |
| 11 years | $-4,936 |
| 13 years | $-2,606 |
| 15 years | $-276 |
| 17 years | $2,054 |
| 19 years | $4,384 |
| 21 years | $6,714 |
| 23 years | $9,044 |
| 25 years | $11,374 |
Top Solar Installers in Wayne
When switching to solar energy, many homeowners opt to go with a solar installation company since installing solar panels yourself can be a difficult project. Also, if you’d like to maximize your investment in solar power, opting for a solar company can help with that too. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.
There are several licensed solar professionals that can install solar panels for you. 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 Wayne
Factors that Affect Solar Panel Costs in Wayne
Even though the average cost of a solar system in Wayne is $17,751, your final cost may differ. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.There are many different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Wayne homeowners choose to finance their solar panel systems to offset upfront costs.You’ll have to consider the long-term cost of loans, 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 more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you go with to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Wayne, and each can charge different amounts for labor and equipment.Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and decide on the company that offers the products, warranties and services you’re looking for and also is within your budget.
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 | $4,437 | 19.3 years |
| 8 kW | $3.48 | $19,478 | $6,298 | 18.9 years |
| 10 kW | $3.41 | $23,870 | $8,350 | 18.5 years |
| 12 kW | $3.34 | $28,071 | $10,593 | 18.2 years |
| 14 kW | $3.27 | $32,081 | $13,027 | 17.8 years |
| 16 kW | $3.21 | $35,900 | $15,652 | 17.4 years |
| 18 kW | $3.14 | $39,529 | $18,467 | 17.0 years |
| 20 kW | $3.07 | $42,966 | $21,474 | 16.7 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose significantly affects your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Different companies will carry various brands and types of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Installation Process: When going solar, it’s essential to maintain an open line of communication with your solar installer. Make sure you understand how the installation process will go and the completion timeline.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, completion timeline incentives and warranties.
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 Wayne, OH Solar Cost FAQs
How much does it cost to install solar panels in Wayne?
The average cost of solar panels in Wayne 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 things such as the type 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 Wayne?
Leasing solar panels can be an appealing choice, as it usually 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
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 opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in Wayne?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.