Solar Panel Cost Guide in Yellow Springs, OH (2024 Update)
- Yellow Springs Solar Installation Cost: $17,757
- 25-Year Savings: $11,719
- Payback Period: 17.7 Years
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Average Cost of Solar Panels in Yellow Springs
Let’s take a look at the average cost of solar panels in Yellow Springs.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Yellow Springs, the average cost of a solar system is 3 per watt.The average Yellow Springs homeowner needs a 7.4-kilowatt system, which would cost about $17,757 with the federal tax credit, or $25,393 before the 0 tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of equipment you want to get, your solar contractor and more.For many homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $13,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a vetted solar company in your area for a customized estimate.
Solar savings over time in Yellow Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-16,739 |
| 3 years | $-14,702 |
| 5 years | $-12,665 |
| 7 years | $-10,629 |
| 9 years | $-8,592 |
| 11 years | $-6,556 |
| 13 years | $-4,519 |
| 15 years | $-2,482 |
| 17 years | $-446 |
| 19 years | $1,591 |
| 21 years | $3,627 |
| 23 years | $5,664 |
| 25 years | $7,700 |
Top Solar Installers in Yellow Springs
Although you can install solar panels yourself, it requires extra labor and handiness. That's one of the reasons most homeowners choose a solar panel installer. Plus, if you aren’t sure what brand of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some nearby:
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 Yellow Springs
Factors that Affect Solar Panel Costs in Yellow Springs
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that determine your overall cost in Yellow Springs: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar system in Yellow Springs, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can determine by looking at past electricity bills. Your total cost can increase by around $3,410 for each additional kilowatt you need.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your energy bills. Additionally, extra products, like solar batteries, can bring your total well above the Yellow Springs average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are offered by most installers in Yellow Springs, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you get to install your solar panels can affect the cost. Yellow Springs’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their larger 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 | $5,309 | 18.4 years |
| 8 kW | $3.48 | $19,478 | $7,461 | 18.1 years |
| 10 kW | $3.41 | $23,870 | $9,803 | 17.7 years |
| 12 kW | $3.34 | $28,071 | $12,337 | 17.4 years |
| 14 kW | $3.27 | $32,081 | $15,061 | 17.0 years |
| 16 kW | $3.21 | $35,900 | $17,976 | 16.7 years |
| 18 kW | $3.14 | $39,529 | $21,083 | 16.3 years |
| 20 kW | $3.07 | $42,966 | $24,380 | 15.9 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:
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Different companies offer different brands and models of panels. If you prefer a specific brand, make sure the solar company you’re considering has it.
- Warranty: If you’re worried about the durability of your solar system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Yellow Springs, OH Solar Cost FAQs
What is the average cost of installing solar panels in Yellow Springs?
This is a tough question to answer exactly, because the cost depends on many 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. You can expect to pay more if you want additional 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 opt for a smaller solar panel system or less efficient solar panels.
Are solar panels free in Yellow Springs?
A solar panel system isn’t free in Yellow Springs, 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.
Is it worth going solar in Yellow Springs?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and how much 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 cover 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.