Solar Panel Cost Guide in Cincinnati, IL (2023 Update)
- Cincinnati Solar Installation Cost: $12,161
- 25-Year Savings: $11,042
- Payback Period: 13.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Cincinnati
Let's have a look at the average cost of solar panels in Cincinnati.
In Cincinnati, solar panels cost about 2.73 per watt on average. The average Cincinnati homeowner needs a 6.4-kilowatt system, which would cost about $12,154 with the federal tax credit, or $17,380 before the 30% tax credit is applied.
These figures are just estimates, and your own solar costs will differ based on your specific situation and what company you choose to go with. With average savings of about $14,000 on utility bills over 20 years, many homeowners in Cincinnati find going solar can pay off big.
To get a free estimate from a top solar installation company in Cincinnati, you can click the button below.
Solar savings over time in Cincinnati
| Year | Return on Investment |
|---|---|
| 1 years | $-12,084 |
| 3 years | $-11,929 |
| 5 years | $-11,774 |
| 7 years | $-11,619 |
| 9 years | $-11,465 |
| 11 years | $-11,310 |
| 13 years | $-11,155 |
| 15 years | $-11,001 |
| 17 years | $-10,846 |
| 19 years | $-10,691 |
| 21 years | $-10,537 |
| 23 years | $-10,382 |
| 25 years | $-10,227 |
Top Solar Installers in Cincinnati
Although you can install solar panels yourself, it involves extra labor and handiness. Because of that, the majority of homeowners choose to hire a solar panel installer. Also, companies with a good reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you're searching for a solar installer in Cincinnati, 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
See all of the solar companies in Cincinnati
Factors that Affect Solar Panel Costs in Cincinnati
For many Cincinnati homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Cincinnati, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
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 energy your household consumes, the larger your system will likely need to be. You can expect to spend about $2,730 per kilowatt in Cincinnati. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof 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 a solar system out of pocket can be financially overwhelming. Solar loans are offered by most installers in Cincinnati, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also increases your total costs, so it's crucial to consider that as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you choose to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies in Cincinnati, and each can charge varying amounts for labor and equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials 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 | $2.84 | $11,925 | $9,952 | 13.6 years |
| 8 kW | $2.78 | $15,594 | $13,576 | 13.4 years |
| 10 kW | $2.73 | $19,110 | $17,352 | 13.1 years |
| 12 kW | $2.68 | $22,473 | $21,281 | 12.8 years |
| 14 kW | $2.62 | $25,684 | $25,363 | 12.6 years |
| 16 kW | $2.57 | $28,741 | $29,598 | 12.3 years |
| 18 kW | $2.51 | $31,646 | $33,985 | 12.1 years |
| 20 kW | $2.46 | $34,398 | $38,526 | 11.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Contract: When looking through your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Solar Panel Brands: Different companies offer different brands and kinds of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Cincinnati, IL Solar Cost FAQs
How much does it cost to install solar panels in Cincinnati?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Cincinnati?
You can't get solar panels for free in Cincinnati. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $729.24 per year.
How many solar panels do I need to power 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 buy 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.