Solar Panel Cost Guide in Cambridge, OH (Mar 2023)
- Cambridge Solar Installation Cost: $13,798
- 25-Year Savings: $20,395
- Payback Period: 10.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Cambridge
Let's take a look at the average cost of solar panels in Cambridge.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cambridge, the typical cost of solar panels is 2.56 per watt. Using this figure, a typical 7.7-kW system would cost about $13,798 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of solar panels you want to get, your solar contractor and more. With average savings of about $17,000 on electricity bills over 20 years, many homeowners in Cambridge find going solar has a decent ROI.
You can click the button below to get connected with a pre-vetted solar company in Cambridge for a quote for your home.
Solar savings over time in Cambridge
| Year | Return on Investment |
|---|---|
| 1 years | $-12,431 |
| 3 years | $-9,695 |
| 5 years | $-6,960 |
| 7 years | $-4,224 |
| 9 years | $-1,489 |
| 11 years | $1,247 |
| 13 years | $3,982 |
| 15 years | $6,718 |
| 17 years | $9,453 |
| 19 years | $12,188 |
| 21 years | $14,924 |
| 23 years | $17,659 |
| 25 years | $20,395 |
Top Solar Installers in Cambridge
When going solar, many homeowners opt to hire a solar installer since installing solar panels yourself can be a time-consuming project. Another great thing about going with a vetted solar installer is that it'll usually provide warranties and free repairs, which help protect your solar investment.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Cambridge
Factors that Affect Solar Panel Costs in Cambridge
Although the average cost of a solar system in Cambridge is $13,798, your actual cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the cost of a solar system in Cambridge, one of the most crucial 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 usage, which you can figure out by looking at past energy bills. Your overall cost can increase by about $2,560 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Cambridge, where sunlight isn't as abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Cambridge to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in higher prices over time because of interest. It's a good idea to include 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
Lastly, the company you hire to install your solar panels can impact your pricing. Cambridge's solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $15,477 | 10.5 years |
| 8 kW | $2.61 | $14,623 | $20,923 | 10.3 years |
| 10 kW | $2.56 | $17,920 | $26,512 | 10.1 years |
| 12 kW | $2.51 | $21,074 | $32,244 | 9.9 years |
| 14 kW | $2.46 | $24,084 | $38,120 | 9.7 years |
| 16 kW | $2.41 | $26,952 | $44,139 | 9.5 years |
| 18 kW | $2.36 | $29,676 | $50,302 | 9.3 years |
| 20 kW | $2.30 | $32,256 | $56,607 | 9.1 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 pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Different companies will have various brands and types of panels. If you want a specific brand, make sure the solar company you're considering has it.
- Contract: Before you sign a contract with a solar company, make sure to look it over carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing 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 (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Cambridge, OH Solar Cost FAQs
What is the average cost of installing solar panels in Cambridge?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $12,800 for a 5-kW system and $25,600 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Cambridge?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home 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.
How much can I save on electricity bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Cambridge, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use 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.