Solar Panel Cost Guide in Catawba Island, OH (2023 Update)
- Catawba Island Solar Installation Cost: $13,614
- 25-Year Savings: $13,670
- Payback Period: 12.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Catawba Island
Find out what the average cost of solar panel installation is in Catawba Island.
The national average cost of solar panels is $2.66 per watt, but in Catawba Island it's 2.56 per watt. To cover the typical energy usage of the average home in Catawba Island, most homeowners require a 7.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $13,619, or $19,475 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Catawba Island homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Despite the high initial cost, the average Catawba Island homeowner can save about $14,000 on their energy bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a pre-vetted solar installer in Catawba Island for a quote for your home.
Solar savings over time in Catawba Island
| Year | Return on Investment |
|---|---|
| 1 years | $-12,394 |
| 3 years | $-9,953 |
| 5 years | $-7,513 |
| 7 years | $-5,072 |
| 9 years | $-2,632 |
| 11 years | $-191 |
| 13 years | $2,249 |
| 15 years | $4,690 |
| 17 years | $7,130 |
| 19 years | $9,571 |
| 21 years | $12,011 |
| 23 years | $14,451 |
| 25 years | $16,892 |
Top Solar Installers in Catawba Island
Many homeowners choose to use a solar panel company since trying to put up solar panels by yourself can be a labor-intensive endeavor. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Catawba Island
Factors that Affect Solar Panel Costs in Catawba Island
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that determine your overall cost in Catawba Island: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $2,560 per kilowatt in Catawba Island. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Catawba Island, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited 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 Catawba Island to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in a higher cost over time because of interest. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installation company you pick will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor. The company's size sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger 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 | $10,366 | 13.0 years |
| 8 kW | $2.61 | $14,623 | $14,109 | 12.7 years |
| 10 kW | $2.56 | $17,920 | $17,994 | 12.5 years |
| 12 kW | $2.51 | $21,074 | $22,023 | 12.2 years |
| 14 kW | $2.46 | $24,084 | $26,195 | 12.0 years |
| 16 kW | $2.41 | $26,952 | $30,511 | 11.7 years |
| 18 kW | $2.36 | $29,676 | $34,970 | 11.5 years |
| 20 kW | $2.30 | $32,256 | $39,572 | 11.2 years |
How to Save on Solar Panels
The solar installer you choose will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, such as:
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
- Solar Panel Brands: Different companies offer various brands and types of panels. If you want a specific brand, make sure the solar company you're considering has it.
- Contract: Read the contract terms thoroughly to make sure you understand the overall cost, completion timeline incentives and warranties.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Catawba Island, OH Solar Cost FAQs
How much does it cost to install solar panels in Catawba Island?
This is a hard 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. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Catawba Island?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The drawback 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.