Solar Panel Cost Guide in Colerain, OH (2024 Update)
- Colerain Solar Installation Cost: $17,636
- 25-Year Savings: $13,854
- Payback Period: 16.3 Years
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Average Cost of Solar Panels in Colerain
Find out what the average cost of solar panels are in Colerain.
The national average cost of solar panels is $2.66 per watt, but in Colerain it’s 3 per watt.Using this figure, a typical 7.4-kW system would cost about $17,636 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Colerain homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Despite the significant initial cost, the average Colerain homeowner can save around $14,000 on their energy bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a top solar company in Colerain that can help you get a more accurate cost estimate for your home.
Solar savings over time in Colerain
Year | Return on Investment |
---|---|
1 years | $-16,471 |
3 years | $-14,141 |
5 years | $-11,811 |
7 years | $-9,481 |
9 years | $-7,151 |
11 years | $-4,821 |
13 years | $-2,491 |
15 years | $-161 |
17 years | $2,169 |
19 years | $4,499 |
21 years | $6,828 |
23 years | $9,158 |
25 years | $11,488 |
Top Solar Installers in Colerain
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Taking advantage of a solar company can make switching to solar power much easier. Another perk of working with a solar installer is that they can help you maximize your investment by cutting back on future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
If you’d like to start using solar energy but still aren’t certain which solar panel installer to go with, here are our suggestions for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Colerain
Factors that Affect Solar Panel Costs in Colerain
Though the average cost of a solar system in Colerain is $17,636, your final cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the price of a solar panel system in Colerain, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can determine by looking at past electricity bills. Your overall cost can increase by around $3,410 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Colerain, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of 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
Most solar companies in Colerain provide solar loans, which reduce your upfront costs of installing a solar system.However, the interest on solar loans also adds to your overall costs, so it’s crucial to include that in your estimate as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The final key cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Colerain, you’ll have plenty of 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 bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $7,107 | 16.9 years |
8 kW | $3.48 | $19,478 | $9,858 | 16.6 years |
10 kW | $3.41 | $23,870 | $12,800 | 16.3 years |
12 kW | $3.34 | $28,071 | $15,933 | 15.9 years |
14 kW | $3.27 | $32,081 | $19,257 | 15.6 years |
16 kW | $3.21 | $35,900 | $22,772 | 15.3 years |
18 kW | $3.14 | $39,529 | $26,478 | 15.0 years |
20 kW | $3.07 | $42,966 | $30,374 | 14.6 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Solar Panel Brands: The model of solar panel you’d like plays a role in which company you should choose, since different companies offer different panels.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and how long the project will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Colerain, OH Solar Cost FAQs
What is the average cost of installing solar panels in Colerain?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly 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 be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas 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.
Does Colerain have a net metering program?
Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
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 uses 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.