Solar Panel Cost Guide in Toledo, OR (2024 Update)
- Toledo Solar Installation Cost: $10,123
- 25-Year Savings: $14,768
- Payback Period: 11.3 Years
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Average Cost of Solar Panels in Toledo
Let’s have a look at the average cost of solar panels in Toledo.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Toledo, the typical cost of a solar system is 4 per watt.To account for the typical energy needs of the average home in Toledo, most homeowners require a 4.1-kilowatt system. Using the figure above, a solar installation costs about $10,123, or $14,476 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy use, the type of equipment you want to get, your solar contractor and more.For most homeowners, the upfront cost of solar panels is worth paying. On average Toledo homeowners see about $22,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Toledo for a quote for your home.
Solar savings over time in Toledo
| Year | Return on Investment |
|---|---|
| 1 years | $-9,005 |
| 3 years | $-6,769 |
| 5 years | $-4,533 |
| 7 years | $-2,297 |
| 9 years | $-61 |
| 11 years | $2,175 |
| 13 years | $4,411 |
| 15 years | $6,647 |
| 17 years | $8,883 |
| 19 years | $11,119 |
| 21 years | $13,355 |
| 23 years | $15,591 |
| 25 years | $17,826 |
Top Solar Installers in Toledo
Putting up solar panels on your own can be a dangerous project, which is why getting a solar installer is a good option for many homeowners. Plus, if you aren’t sure what brand of solar panels and equipment you want, a solar expert can help you figure that out after a site survey and consultation.
If you're looking for a solar company in Toledo, the EcoWatch team has compiled a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Toledo
Factors that Affect Solar Panel Costs in Toledo
There are many criteria that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That’s why it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Toledo, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can affect your pricing. Toledo’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 because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.64 | $15,288 | $17,336 | 11.7 years |
| 8 kW | $3.57 | $19,992 | $23,507 | 11.5 years |
| 10 kW | $3.50 | $24,500 | $29,873 | 11.3 years |
| 12 kW | $3.43 | $28,812 | $36,436 | 11.0 years |
| 14 kW | $3.36 | $32,928 | $43,194 | 10.8 years |
| 16 kW | $3.29 | $36,848 | $50,149 | 10.6 years |
| 18 kW | $3.22 | $40,572 | $57,300 | 10.4 years |
| 20 kW | $3.15 | $44,100 | $64,646 | 10.1 years |
How to Save on Solar Panels
The solar company you choose will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:
- Installation Process: When making the switch to solar energy, it’s important to keep an open line of communication with your solar panel company. Make sure you understand how the installation process works and the project timeline.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose impacts 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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Toledo, OR Solar Cost FAQs
What is the average cost of installing solar panels in Toledo?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $17,500 for a 5-kW system and $35,000 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Toledo have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can 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.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can 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.