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.
The national average cost of solar panels is $2.66 per watt, but in American it’s 3 per watt.Since a 7.6-kW system is needed to cover the energy consumption 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.
These figures are only averages, and the cost of going solar for you will differ based on factors unique to your home and what company you choose to go with.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in American can save around $16,000 on their power bills over 20 years.
To receive a free quote from a pre-vetted solar installer in American, you can click the button below.
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
Many homeowners choose to hire a solar panel installer since figuring out how to install solar panels by yourself can be time-consuming. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance in the long run.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 American
Factors that Affect Solar Panel Costs in American
For many American homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in American, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar system in American, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by around $3,410 for each additional kilowatt you need.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a 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 a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in American provide solar loans, which reduce your upfront costs of installing solar.However, the interest on solar loans also adds to your overall costs, so it’s important to keep that in mind as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in American is the company you choose to install your solar panel system. As with choosing a company to build a deck or pool, for instance, you’ll have no shortage of solar installers that provide a range of services at different costs.You may see national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials 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 | $3.55 | $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 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 several important things you should take into account, such as:
- Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Solar Panel Brands: The model of solar panel you need to install plays a part in which installer you should go with, since different companies provide different panels.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
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 American, OH Solar Cost FAQs
What is the average cost of installing solar panels in American?
The average cost of solar panels in American is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in American?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.