Solar Panel Cost Guide in Coldwater, OH (2023 Update)
- Coldwater Solar Installation Cost: $17,924
- 25-Year Savings: $13,252
- Payback Period: 16.8 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Coldwater
We break down average solar pricing in Coldwater.
The average cost of a solar panel system in Coldwater is 3 per watt.To cover the typical energy usage of the average home in Coldwater, most homeowners require a 7.5-kilowatt system. Using the figure above, a solar installation costs around $17,924, or $25,631 before the federal solar tax credit of 0 is applied.
These figures are only averages, and how much solar costs for you will most likely differ based on your specific situation and what company you want to go with.Many homeowners find going solar is a sound investment. The average homeowner in Coldwater can save around $14,000 on their power bills over 20 years.
To receive a free estimate from a pre-vetted solar installer in Coldwater, you can click the button below.
Solar savings over time in Coldwater
| Year | Return on Investment |
|---|---|
| 1 years | $-16,906 |
| 3 years | $-14,869 |
| 5 years | $-12,833 |
| 7 years | $-10,796 |
| 9 years | $-8,760 |
| 11 years | $-6,723 |
| 13 years | $-4,686 |
| 15 years | $-2,650 |
| 17 years | $-613 |
| 19 years | $1,423 |
| 21 years | $3,460 |
| 23 years | $5,496 |
| 25 years | $7,533 |
Top Solar Installers in Coldwater
When switching to solar energy, many homeowners choose to use a solar installation company since DIY solar panel installation can be a difficult project. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy usage, but going with a solar installer can shorten that period. Your provider will be able to help you identify incentives available in your area.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some nearby:
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 Coldwater
Factors that Affect Solar Panel Costs in Coldwater
For many Coldwater homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Coldwater, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar 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 $3,410 per kilowatt in Coldwater.The solar equipment you choose can bring your price up or down 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. However, more efficient panels could save you more over time on your electric bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Coldwater average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are provided by most installers in Coldwater, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar installation company you choose will play a role in your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that offers the products, warranties and services you’re looking for and also is within your budget.
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 | $6,446 | 17.4 years |
| 8 kW | $3.48 | $19,478 | $8,977 | 17.1 years |
| 10 kW | $3.41 | $23,870 | $11,698 | 16.8 years |
| 12 kW | $3.34 | $28,071 | $14,611 | 16.4 years |
| 14 kW | $3.27 | $32,081 | $17,714 | 16.1 years |
| 16 kW | $3.21 | $35,900 | $21,009 | 15.8 years |
| 18 kW | $3.14 | $39,529 | $24,494 | 15.4 years |
| 20 kW | $3.07 | $42,966 | $28,170 | 15.1 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose considerably impacts your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely offer high-quality solar panel installation and expertise.
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Coldwater, OH Solar Cost FAQs
How much does it cost to install solar panels in Coldwater?
This is a hard question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is it worth going solar in Coldwater?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house 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.