Solar Panel Cost Guide in Colerain, OH (2023 Update)
- Colerain Solar Installation Cost: $13,243
- 25-Year Savings: $13,851
- Payback Period: 12.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Colerain
Let's take a look at the average cost of solar panels in Colerain.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Colerain, the average cost of a solar system is 2.56 per watt. Since a 7.4-kW system is needed to cover the energy consumption of a typical home in Colerain, the average price of going solar will be about $13,243 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of installing solar panels can vary quite a bit based on a few factors, such as how many panels you need, your energy consumption and what company you go with. For most homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $14,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a reputable solar installer in your area for a custom estimate.
Solar savings over time in Colerain
| Year | Return on Investment |
|---|---|
| 1 years | $-12,159 |
| 3 years | $-9,992 |
| 5 years | $-7,824 |
| 7 years | $-5,657 |
| 9 years | $-3,489 |
| 11 years | $-1,322 |
| 13 years | $846 |
| 15 years | $3,013 |
| 17 years | $5,181 |
| 19 years | $7,348 |
| 21 years | $9,516 |
| 23 years | $11,683 |
| 25 years | $13,851 |
Top Solar Installers in Colerain
Installing solar panels yourself can be a stressful undertaking, which is why using a solar installer is a good option for many homeowners. Plus, if you're unsure what kind of solar panels and equipment you may need, a solar company can help you find the right equipment for you after a site survey and consultation.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Colerain
Factors that Affect Solar Panel Costs in Colerain
For many Colerain homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Colerain, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That's why it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. There are many different solar panel brands and the one you pick also affects the cost. In many cases, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you're looking to install 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
Many homeowners find the average cost of solar in Colerain to be too costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to paying more over time because of interest. When estimating 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 reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can affect your pricing. Colerain's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Colerain know more 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 | $10,820 | 12.7 years |
| 8 kW | $2.61 | $14,623 | $14,713 | 12.5 years |
| 10 kW | $2.56 | $17,920 | $18,750 | 12.2 years |
| 12 kW | $2.51 | $21,074 | $22,930 | 12.0 years |
| 14 kW | $2.46 | $24,084 | $27,254 | 11.7 years |
| 16 kW | $2.41 | $26,952 | $31,721 | 11.5 years |
| 18 kW | $2.36 | $29,676 | $36,331 | 11.2 years |
| 20 kW | $2.30 | $32,256 | $41,084 | 11.0 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: If you care about the durability of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Before you sign a contract with a solar company, make sure to read it through carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: The type of solar panel you want plays a part in which company you should choose, since different companies provide different panels.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Colerain, OH Solar Cost FAQs
How much does it cost to install solar panels in Colerain?
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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires 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 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.