Solar Panel Cost Guide in Bloom, OH (Feb 2023)
- Bloom Solar Installation Cost: $13,476
- 25-Year Savings: $19,101
- Payback Period: 10.3 Years
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Top Solar Installers in Bloom
When going solar, many homeowners choose to hire a solar installer since handling can be a challenging project. A solar company can also help save you money in the long run by offering warranties, repairs and part replacements.
Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in Bloom
Factors that Affect Solar Panel Costs in Bloom
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Bloom: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,560. The type of solar panels and equipment you choose is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Furthermore, solar equipment is more than 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
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Bloom, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you choose will affect your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to 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||$14,819||10.8 years|
|8 kW||$2.61||$14,623||$20,045||10.5 years|
|10 kW||$2.56||$17,920||$25,414||10.3 years|
|12 kW||$2.51||$21,074||$30,927||10.1 years|
|14 kW||$2.46||$24,084||$36,584||9.9 years|
|16 kW||$2.41||$26,952||$42,384||9.7 years|
|18 kW||$2.36||$29,676||$48,327||9.5 years|
|20 kW||$2.30||$32,256||$54,413||9.3 years|
How to Save on Solar Panels
The solar panel company you choose will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, including:
- Contract: Before you sign a contract with a solar installer, be sure to read it through completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Warranty: If you're worried about the endurance of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
EcoWatch's Bloom, OH Solar Cost FAQs
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.