Solar Panel Cost Guide in Coldwater, OH (Jan 2023)
- Coldwater Solar Installation Cost: $13,458
- 25-Year Savings: $13,251
- Payback Period: 12.6 Years
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Top Solar Installers in Coldwater
Many homeowners opt for a solar panel installer since installing solar panels on your own can be a labor-intensive endeavor. Another perk of working with a solar installer is that they can help you maximize your return of investment by cutting back on future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in Coldwater
Factors that Affect Solar Panel Costs in Coldwater
Though the average cost of a solar system in Coldwater is $13,458, your actual cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,560. The brand of solar panels and equipment you choose is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Coldwater homeowners decide to finance their solar panel systems to offset upfront costs. Though solar loans make switching to solar energy more accessible for Coldwater homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final major cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Coldwater, you'll have many options to choose from, but each comes at various price points for labor and equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials 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||$10,159||13.1 years|
|8 kW||$2.61||$14,623||$13,832||12.8 years|
|10 kW||$2.56||$17,920||$17,648||12.6 years|
|12 kW||$2.51||$21,074||$21,608||12.3 years|
|14 kW||$2.46||$24,084||$25,711||12.1 years|
|16 kW||$2.41||$26,952||$29,957||11.8 years|
|18 kW||$2.36||$29,676||$34,347||11.6 years|
|20 kW||$2.30||$32,256||$38,880||11.3 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. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
- Contract: It's important to read your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases provide good-quality solar panel installation and expertise.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
EcoWatch's Coldwater, OH Solar Cost FAQs
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.