Solar Panel Cost Guide in Canal Winchester, OH (Mar 2023)
- Canal Winchester Solar Installation Cost: $13,494
- 25-Year Savings: $20,507
- Payback Period: 9.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Canal Winchester
We go over average solar pricing in Canal Winchester.
In Canal Winchester, solar panels cost about 2.56 per watt on average. Using this figure, a typical 7.5-kW system would cost about $13,494 before the 30% federal solar tax credit is applied.
The true cost of your system can be above or below the average in Canal Winchester based on a few factors, such as the kind of solar panels you choose and the solar contractor you hire. But, after you've paid the upfront cost of installation, the payback for most homeowners is usually rewarding, with a net average savings of about $17,000 over 20 years on utility bills.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Canal Winchester
| Year | Return on Investment |
|---|---|
| 1 years | $-12,134 |
| 3 years | $-9,414 |
| 5 years | $-6,694 |
| 7 years | $-3,974 |
| 9 years | $-1,254 |
| 11 years | $1,466 |
| 13 years | $4,186 |
| 15 years | $6,907 |
| 17 years | $9,627 |
| 19 years | $12,347 |
| 21 years | $15,067 |
| 23 years | $17,787 |
| 25 years | $20,507 |
Top Solar Installers in Canal Winchester
When going solar, many homeowners opt to use a solar company since handling can be a time-consuming project. Plus, if you'd like to maximize your investment in solar energy, going with a solar installer can help with that as well. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives and net metering programs.
If you'd like to go solar but still aren't certain which solar company to go with, here are our recommendations for providers nearby:
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 Canal Winchester
Factors that Affect Solar Panel Costs in Canal Winchester
The cost of installing a solar system in Canal Winchester can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of a solar system in Canal Winchester, 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 gauge by looking at past electricity bills. Your total cost can increase by around $2,560 for each additional kilowatt you need. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Canal Winchester to be too expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The final significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Canal Winchester, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Canal Winchester are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $15,902 | 10.3 years |
| 8 kW | $2.61 | $14,623 | $21,490 | 10.1 years |
| 10 kW | $2.56 | $17,920 | $27,221 | 9.9 years |
| 12 kW | $2.51 | $21,074 | $33,095 | 9.7 years |
| 14 kW | $2.46 | $24,084 | $39,113 | 9.5 years |
| 16 kW | $2.41 | $26,952 | $45,274 | 9.3 years |
| 18 kW | $2.36 | $29,676 | $51,578 | 9.1 years |
| 20 kW | $2.30 | $32,256 | $58,026 | 8.9 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely offer good-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of options before deciding.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, project completion timeline rebates and warranties.
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 Canal Winchester, OH Solar Cost FAQs
What is the average cost of installing solar panels in Canal Winchester?
This is a tough question to answer precisely, because the cost depends on many 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 be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Canal Winchester?
A solar panel system isn't free in Canal Winchester, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.