Solar Panel Cost Guide in Canal Winchester, OH (2024 Update)

  • Canal Winchester Solar Installation Cost: $17,979
  • 25-Year Savings: $20,503
  • Payback Period: 13.2 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Canal Winchester

Let’s have a look at the average cost of solar panels in Canal Winchester.

The average cost of solar panels in Canal Winchester is 3 per watt.To cover the typical energy usage of the average home in Canal Winchester, most homeowners require a 7.5-kilowatt system. Using the figure above, a solar installation costs around $17,979, or $25,710 before the federal solar tax credit of 0 is applied.

Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy consumption, the type of equipment you want, your solar contractor and more.For most homeowners, the upfront investment in solar panels is worth paying. On average Canal Winchester homeowners see about $17,000 in savings on electricity bills over 20 years.

To see your potential ROI and connect with a local solar expert, click the button below.

Solar savings over time in Canal Winchester

Year Return on Investment
1 years $-16,750
3 years $-14,293
5 years $-11,835
7 years $-9,378
9 years $-6,921
11 years $-4,463
13 years $-2,006
15 years $452
17 years $2,909
19 years $5,366
21 years $7,824
23 years $10,281
25 years $12,739

Top Solar Installers in Canal Winchester

Although it's possible to install solar panels on your own, it involves extra effort and know-how. That's one of the reasons almost all homeowners choose to go with a solar panel installer. Since solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.

There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

See all of the solar companies in Canal Winchester

Factors that Affect Solar Panel Costs in Canal Winchester

For many Canal Winchester homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Canal Winchester, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.

Solar Equipment

The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,410. There are several different solar panel brands and the one you pick also changes the cost. In many cases, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you choose 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

For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are offered by most installers in Canal Winchester, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable.When estimating your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.

Solar Panel Installation Company

A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Canal Winchester is the company you get to install your solar panel system. As with choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that offer a range of services at different costs.Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 $3.55 $14,895 $12,190 13.7 years
8 kW $3.48 $19,478 $16,635 13.5 years
10 kW $3.41 $23,870 $21,271 13.2 years
12 kW $3.34 $28,071 $26,098 13.0 years
14 kW $3.27 $32,081 $31,116 12.7 years
16 kW $3.21 $35,900 $36,325 12.4 years
18 kW $3.14 $39,529 $41,725 12.2 years
20 kW $3.07 $42,966 $47,316 11.9 years

How to Save on Solar Panels

There are numerous companies available in Canal Winchester, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:

  • Warranty: If you’re worried about the durability of your solar system, ensuring your company 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 adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
  • Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
  • Contract: Read the contract terms thoroughly to make sure you understand the total cost, project completion timeline rebates and warranties.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Canal Winchester, OH Solar Cost FAQs

How much does it cost to install solar panels in Canal Winchester?

The average cost of solar panels in Canal Winchester is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.

Should I lease or buy solar panels in Canal Winchester?

Leasing solar panels can be an option if you can’t 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 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 will solar panels impact my home value?

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 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 are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had 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.

Follow us