Solar Panel Cost Guide in Bowling Green, OH (2023 Update)
- Bowling Green Solar Installation Cost: $13,716
- 25-Year Savings: $18,906
- Payback Period: 10.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Bowling Green
Find out what the average cost of solar panels are in Bowling Green.
The average cost of a solar system in Bowling Green is 2.56 per watt. The average solar panel system size in Bowling Green is around 7.7 kilowatts, meaning a cost of about $13,709 for a solar installation, or $19,604 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of solar system you want, your solar contractor and more. Despite the high initial cost, the average Bowling Green homeowner can save about $16,000 on their energy bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a pre-vetted solar installer in Bowling Green that can help you get a more accurate cost estimate for your home.
Solar savings over time in Bowling Green
| Year | Return on Investment |
|---|---|
| 1 years | $-12,272 |
| 3 years | $-9,384 |
| 5 years | $-6,495 |
| 7 years | $-3,607 |
| 9 years | $-718 |
| 11 years | $2,170 |
| 13 years | $5,059 |
| 15 years | $7,947 |
| 17 years | $10,835 |
| 19 years | $13,724 |
| 21 years | $16,612 |
| 23 years | $19,501 |
| 25 years | $22,389 |
Top Solar Installers in Bowling Green
When going solar, many homeowners prefer to go with a solar installer since overseeing your solar installation yourself can be a difficult project. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance over the lifespan of your panels.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some in Bowling Green:
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 Bowling Green
Factors that Affect Solar Panel Costs in Bowling Green
Even though the average cost of a solar system in Bowling Green is $13,709, your final cost may differ. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater 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 $2,560. There are several different solar panel brands and the one you pick also changes the cost. Generally, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many Bowling Green homeowners decide to finance their solar panel systems to make going solar more affordable. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you go with to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies in Bowling Green, and each can charge varying amounts 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 cost more. It's best to do some research and find a company that has the products, warranties and services you want and also fits within 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 | $2.66 | $11,182 | $14,389 | 10.9 years |
| 8 kW | $2.61 | $14,623 | $19,473 | 10.7 years |
| 10 kW | $2.56 | $17,920 | $24,699 | 10.5 years |
| 12 kW | $2.51 | $21,074 | $30,069 | 10.3 years |
| 14 kW | $2.46 | $24,084 | $35,583 | 10.1 years |
| 16 kW | $2.41 | $26,952 | $41,239 | 9.9 years |
| 18 kW | $2.36 | $29,676 | $47,039 | 9.7 years |
| 20 kW | $2.30 | $32,256 | $52,983 | 9.5 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose considerably affects your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- Contract: When reading through your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Installation Process: When making the switch to solar energy, it's important to keep an open line of communication with your solar panel company. See to it that you understand how the installation process will go and the project timeline.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Bowling Green, OH Solar Cost FAQs
What is the average cost of installing solar panels in Bowling Green?
The average cost of solar panels in Bowling Green is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Bowling Green?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you don't have access to 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 savings from going solar.
Do solar panels increase the value of your home?
Solar panels can increase your home value considerably 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% with a solar installation."
How long do solar panels last in Bowling Green?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using them at a lower efficiency.
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.