Solar Panel Cost Guide in Cambridge, OH (2023 Update)
- Cambridge Solar Installation Cost: $13,791
- 25-Year Savings: $20,403
- Payback Period: 10.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Cambridge
We go over average solar pricing 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. The average Cambridge homeowner needs a 7.7-kilowatt system, which would cost about $13,798 with the federal tax credit, or $19,731 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Cambridge homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Cambridge see about $17,000 in savings on utility bills over 20 years.
To receive a free estimate from a top solar installer in Cambridge, you can click the button below.
Solar savings over time in Cambridge
| Year | Return on Investment |
|---|---|
| 1 years | $-12,459 |
| 3 years | $-9,795 |
| 5 years | $-7,131 |
| 7 years | $-4,466 |
| 9 years | $-1,802 |
| 11 years | $862 |
| 13 years | $3,526 |
| 15 years | $6,190 |
| 17 years | $8,854 |
| 19 years | $11,518 |
| 21 years | $14,182 |
| 23 years | $16,846 |
| 25 years | $19,510 |
Top Solar Installers in Cambridge
Many homeowners decide to use a solar panel company since trying to put up solar panels yourself can be hard. Solar companies offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
There are several licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Cambridge
Factors that Affect Solar Panel Costs in Cambridge
For many Cambridge homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Cambridge, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of solar panels in Cambridge, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can figure out by looking at past energy bills. Your overall cost can increase by around $2,560 for each additional kilowatt you need. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your energy bills. In addition, extra products, such as solar batteries, can bring your total well above the Cambridge average.
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 Cambridge homeowners decide to finance their solar panel systems to make paying for solar more affordable. Though solar loans make going solar more accessible for Cambridge homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can impact your pricing. Cambridge's solar companies all have different labor costs and add varying upcharges to equipment. The company's size can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of greater resources and better 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 names.
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 brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Different companies will offer various brands and models of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
- Contract: Before you sign a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Cambridge, OH Solar Cost FAQs
How much does it cost to install solar panels in Cambridge?
This is a tough question to answer precisely, because the cost depends on many 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 usage. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Cambridge?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
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 contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Cambridge?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.