Solar Panel Cost Guide in Allen, OH (2023 Update)
- Allen Solar Installation Cost: $18,134
- 25-Year Savings: $14,517
- Payback Period: 16.1 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Allen
We break down average solar pricing in Allen.
The average cost of a solar panel system in Allen is 2.56 per watt.To cover the typical energy needs of the average home in Allen, most homeowners require a 7.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $13,619, or $19,475 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy use, the type of solar panels you want to get, your solar contractor and more.But, after you've paid the initial cost of installation, the payback for most homeowners is usually rewarding, with a net average savings of about $14,000 over 20 years on power bills.
Click the button below to get connected to a reputable solar panel company in your area for a custom quote.
Solar savings over time in Allen
| Year | Return on Investment |
|---|---|
| 1 years | $-16,837 |
| 3 years | $-14,242 |
| 5 years | $-11,648 |
| 7 years | $-9,053 |
| 9 years | $-6,459 |
| 11 years | $-3,864 |
| 13 years | $-1,269 |
| 15 years | $1,325 |
| 17 years | $3,920 |
| 19 years | $6,514 |
| 21 years | $9,109 |
| 23 years | $11,703 |
| 25 years | $14,298 |
Top Solar Installers in Allen
When making the switch to solar, many homeowners opt to go with a solar installation company since installing a solar system yourself can be a challenging project. Companies can also provide access to various kinds of the best solar panels and help you choose which one will be best for you.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some in Allen:
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 Allen
Factors that Affect Solar Panel Costs in Allen
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that affect your total cost in Allen: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly 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 electricity your household uses, the larger your system will likely need to be. You can expect to pay around $2,560 per kilowatt in Allen.The brand and kind of equipment you want for your solar system can raise or lower 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 additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are an affordable choice because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also adds to your all-in costs, so it's crucial to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you get to install your solar system can influence the cost. Allen's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $7,322 | 16.8 years |
| 8 kW | $3.48 | $19,478 | $10,145 | 16.4 years |
| 10 kW | $3.41 | $23,870 | $13,159 | 16.1 years |
| 12 kW | $3.34 | $28,071 | $16,363 | 15.8 years |
| 14 kW | $3.27 | $32,081 | $19,759 | 15.5 years |
| 16 kW | $3.21 | $35,900 | $23,345 | 15.1 years |
| 18 kW | $3.14 | $39,529 | $27,123 | 14.8 years |
| 20 kW | $3.07 | $42,966 | $31,091 | 14.5 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 find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
- Contract: Before you sign a contract with a solar installer, make sure to read it through completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Allen, OH Solar Cost FAQs
How much does it cost to install solar panels in Allen?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $12,800 for a 5-kW system and $25,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Allen?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How much can I save on electricity bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Allen, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household 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.