Solar Panel Cost Guide in American, OH (2024 Update)
- American Solar Installation Cost: $18,154
- 25-Year Savings: $17,783
- Payback Period: 14.4 Years
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Average Cost of Solar Panels in American
Find out how much it might cost to go solar in American.
Currently, the national average cost of solar panels is $2.66 per watt. However, in American, the typical cost of solar panels is 3 per watt.Since a 7.6-kW system is needed to cover the energy needs of a typical home in American, the average price of going solar will be about $18,154 after claiming the federal solar tax credit of 0.
The true cost of your system can be above or below the average in American depending on several factors, such as the model of solar panels you choose and the solar company you hire.Many homeowners find installing solar panels is a sound investment. The average homeowner in American can save around $16,000 on their energy bills over 20 years.
Click the button below to get connected to a reputable solar installer in American for a customized estimate.
Solar savings over time in American
| Year | Return on Investment |
|---|---|
| 1 years | $-16,822 |
| 3 years | $-14,158 |
| 5 years | $-11,494 |
| 7 years | $-8,830 |
| 9 years | $-6,166 |
| 11 years | $-3,501 |
| 13 years | $-837 |
| 15 years | $1,827 |
| 17 years | $4,491 |
| 19 years | $7,155 |
| 21 years | $9,819 |
| 23 years | $12,483 |
| 25 years | $15,147 |
Top Solar Installers in American
When switching to solar energy, many homeowners prefer to hire a solar installer since installing a solar system yourself can be a challenging project. Solar warranties and repairs are usually included in the cost of installation when you go with a solar contractor too, which can save you more money after your upfront investment.
Working with a professional solar company can make going solar easier. Here are our recommendations:
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 American
Factors that Affect Solar Panel Costs in American
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that will push your cost above or below the average in American: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,410.There are several different solar panel brands and the one you pick also affects the cost. Generally, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in American provide solar loans, which reduce the initial cost of installing solar panels.When estimating your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in American, you’ll have many options to choose from, but each comes at various price points for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and go with the company that has the products, warranties and services you want and also fit into your budget.
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 | $9,887 | 15.0 years |
| 8 kW | $3.48 | $19,478 | $13,564 | 14.7 years |
| 10 kW | $3.41 | $23,870 | $17,433 | 14.4 years |
| 12 kW | $3.34 | $28,071 | $21,492 | 14.2 years |
| 14 kW | $3.27 | $32,081 | $25,742 | 13.9 years |
| 16 kW | $3.21 | $35,900 | $30,184 | 13.6 years |
| 18 kW | $3.14 | $39,529 | $34,816 | 13.3 years |
| 20 kW | $3.07 | $42,966 | $39,639 | 13.0 years |
How to Save on Solar Panels
The solar company you opt for 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 several important things you should take into account, including:
- Contract: When reading through your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
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 American, OH Solar Cost FAQs
What is the average cost of installing solar panels in American?
This is a hard question to answer exactly, because the cost depends on a variety of 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 usage. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in American?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of 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 financial benefits from going solar.
Do solar panels increase your property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in American is currently $172,844, so you can look forward to a value of about $7,087 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in American is a fruitful investment.
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 how much 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 install between 20 and 35 panels to account for 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.