Solar Panel Cost Guide in Woodlawn, OH (2024 Update)
- Woodlawn Solar Installation Cost: $17,636
- 25-Year Savings: $10,949
- Payback Period: 18.2 Years
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Average Cost of Solar Panels in Woodlawn
See how much it might cost to install solar panels in Woodlawn.
The national average cost of solar panels is $2.66 per watt, but in Woodlawn it’s 3 per watt.To cover the typical energy needs of the average home in Woodlawn, most homeowners require a 7.4-kilowatt system. Using the figure above, a solar installation costs around $17,636, or $25,219 before the federal solar tax credit of 0 is applied.
These figures are only estimates, and how much solar costs for you may differ based on the amount of energy your home requires and what company you go with.But, once you've paid the initial cost of installation, the ROI for most homeowners is quite fruitful, with a net average savings of about $12,000 over 20 years on utility bills.
Click the button below to get connected to a reputable solar installer in your area for a personalized estimate.
Solar savings over time in Woodlawn
| Year | Return on Investment |
|---|---|
| 1 years | $-16,471 |
| 3 years | $-14,141 |
| 5 years | $-11,811 |
| 7 years | $-9,481 |
| 9 years | $-7,151 |
| 11 years | $-4,821 |
| 13 years | $-2,491 |
| 15 years | $-161 |
| 17 years | $2,169 |
| 19 years | $4,499 |
| 21 years | $6,828 |
| 23 years | $9,158 |
| 25 years | $11,488 |
Top Solar Installers in Woodlawn
Many homeowners choose to use a solar installer since trying to put up solar panels by yourself can be time-consuming. A solar company can also help save you money over time by providing warranties, repairs and system component replacements.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some 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 Woodlawn
Factors that Affect Solar Panel Costs in Woodlawn
The cost of installing a solar system in Woodlawn 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 you need, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $3,410 per kilowatt in Woodlawn.The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a solid option because they reduce your upfront costs and let you pay for your system over five to seven years on average.Although solar loans make switching to solar energy more accessible for Woodlawn homeowners, they can also increase 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
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Woodlawn is the company you choose to install your solar system. Similar to choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide a range of services at different costs.Additionally, some companies in Woodlawn have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $4,748 | 19.0 years |
| 8 kW | $3.48 | $19,478 | $6,713 | 18.6 years |
| 10 kW | $3.41 | $23,870 | $8,868 | 18.2 years |
| 12 kW | $3.34 | $28,071 | $11,215 | 17.9 years |
| 14 kW | $3.27 | $32,081 | $13,752 | 17.5 years |
| 16 kW | $3.21 | $35,900 | $16,481 | 17.1 years |
| 18 kW | $3.14 | $39,529 | $19,400 | 16.8 years |
| 20 kW | $3.07 | $42,966 | $22,511 | 16.4 years |
How to Save on Solar Panels
The solar panel company you choose will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, such as:
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer quality solar panel installation and expertise.
- Contract: 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.
- Warranty: Warranties that provide coverage for defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Woodlawn, OH Solar Cost FAQs
What is the average cost of installing solar panels in Woodlawn?
This is a hard question to answer exactly, because the cost depends on a few different 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase how much your home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Woodlawn is currently $172,273, which means you can expect a value of about $7,063 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Woodlawn is a worthwhile investment.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.