Solar Panel Cost Guide in Amherst, OH (2023 Update)
- Amherst Solar Installation Cost: $12,687
- 25-Year Savings: $16,471
- Payback Period: 10.9 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Amherst
See how much it might cost to switch to solar power in Amherst.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Amherst, the typical cost of solar panels is 2.56 per watt. Using this figure, a typical 7.1-kW system would cost about $12,687 before the 30% federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Amherst based on several factors, such as the brand of solar panels you choose and the solar contractor you hire. With typical savings of about $16,000 on power bills over 20 years, many homeowners in Amherst find going solar has a decent ROI.
Click the button below to get connected to a highly rated solar panel company in Amherst for a customized estimate.
Solar savings over time in Amherst
| Year | Return on Investment |
|---|---|
| 1 years | $-11,521 |
| 3 years | $-9,188 |
| 5 years | $-6,856 |
| 7 years | $-4,523 |
| 9 years | $-2,190 |
| 11 years | $142 |
| 13 years | $2,475 |
| 15 years | $4,808 |
| 17 years | $7,140 |
| 19 years | $9,473 |
| 21 years | $11,806 |
| 23 years | $14,138 |
| 25 years | $16,471 |
Top Solar Installers in Amherst
When switching to solar energy, many homeowners prefer to hire a solar installation company since overseeing your solar installation yourself can be a time-consuming project. Some solar installers, especially local ones, can help you make the most of incentives in Amherst, thereby optimizing your ROI.
If you're looking for a solar installer in Amherst, the EcoWatch team has put together 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 Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Amherst
Factors that Affect Solar Panel Costs in Amherst
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few primary factors that determine your overall cost in Amherst: 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 significant factors to consider when it comes to the cost of adopting solar energy 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 pay about $2,560 per kilowatt in Amherst. The brand of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Amherst homeowners opt to finance their solar panel systems to make going solar more affordable. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar panel installer you select will play a role in your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car 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 | $2.66 | $11,182 | $13,538 | 11.3 years |
| 8 kW | $2.61 | $14,623 | $18,337 | 11.1 years |
| 10 kW | $2.56 | $17,920 | $23,280 | 10.9 years |
| 12 kW | $2.51 | $21,074 | $28,366 | 10.7 years |
| 14 kW | $2.46 | $24,084 | $33,596 | 10.4 years |
| 16 kW | $2.41 | $26,952 | $38,968 | 10.2 years |
| 18 kW | $2.36 | $29,676 | $44,485 | 10.0 years |
| 20 kW | $2.30 | $32,256 | $50,144 | 9.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Solar Panel Brands: Different companies will have various brands and kinds of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can check 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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Amherst, OH Solar Cost FAQs
How much does it cost to install solar panels in Amherst?
This is a tough question to answer exactly, because the cost depends on a few different 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 additional solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Amherst is currently $148,425, so you could be looking at a value of about $6,085 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Amherst is a rewarding investment.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs 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 home 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.