Solar Panel Cost Guide in Bexley, OH (2024 Update)
- Bexley Solar Installation Cost: $18,014
- 25-Year Savings: $19,859
- Payback Period: 13.5 Years
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Average Cost of Solar Panels in Bexley
We break down average solar pricing in Bexley.
The average cost of a solar system in Bexley is 3 per watt.Using this figure, a typical 7.5-kW system would cost about $18,014 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Bexley homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.But, once you've paid the initial cost of installation, the return on investment for most homeowners is typically rewarding, with a net average savings of about $17,000 over 20 years on electricity bills.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Bexley
| Year | Return on Investment |
|---|---|
| 1 years | $-16,785 |
| 3 years | $-14,328 |
| 5 years | $-11,870 |
| 7 years | $-9,413 |
| 9 years | $-6,956 |
| 11 years | $-4,498 |
| 13 years | $-2,041 |
| 15 years | $417 |
| 17 years | $2,874 |
| 19 years | $5,331 |
| 21 years | $7,789 |
| 23 years | $10,246 |
| 25 years | $12,704 |
Top Solar Installers in Bexley
When making the switch to solar, many homeowners opt to use a solar company since installing solar panels yourself can be a challenging project. A solar installer can also help save you money in the long run by providing warranties, repairs and part replacements.
If you're on the hunt for a solar company in Bexley, we've 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
See all of the solar companies in Bexley
Factors that Affect Solar Panel Costs in Bexley
For many Bexley homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Bexley, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay about $3,410 per kilowatt in Bexley.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your electric bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Bexley average.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a popular option because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.Though solar loans make switching to solar energy more accessible for Bexley homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Bexley is the company you get to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that provide a range of services for different budgets.The company’s size can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
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 | $11,646 | 14.0 years |
| 8 kW | $3.48 | $19,478 | $15,910 | 13.8 years |
| 10 kW | $3.41 | $23,870 | $20,364 | 13.5 years |
| 12 kW | $3.34 | $28,071 | $25,010 | 13.2 years |
| 14 kW | $3.27 | $32,081 | $29,847 | 13.0 years |
| 16 kW | $3.21 | $35,900 | $34,874 | 12.7 years |
| 18 kW | $3.14 | $39,529 | $40,093 | 12.4 years |
| 20 kW | $3.07 | $42,966 | $45,503 | 12.1 years |
How to Save on Solar Panels
There are a large number of companies available in Bexley, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: If you care about the durability of your solar system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: The brand of solar panel you’d like to get plays a role in which installer you should opt for, since different companies offer different panels.
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Bexley, OH Solar Cost FAQs
What is the average cost of installing solar panels in Bexley?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels eliminate my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $884.69 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily 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 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.