Solar Panel Cost Guide in Concord, OH (2024 Update)
- Concord Solar Installation Cost: $17,901
- 25-Year Savings: $14,497
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Concord
Find out what the average cost of solar panels are in Concord.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Concord, the average cost of solar panels is 3 per watt.The average solar panel system size in Concord is around 7.5 kilowatts, meaning a cost of about $17,901 for a solar installation, or $25,598 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of solar system you want to get, your solar contractor and more.But, after you've paid the initial cost of installation, the payback for most homeowners is typically good, with a net average savings of about $14,000 over 20 years on electricity bills.
To get a free quote from a highly rated solar company in Concord, you can click the button below.
Solar savings over time in Concord
| Year | Return on Investment |
|---|---|
| 1 years | $-16,883 |
| 3 years | $-14,846 |
| 5 years | $-12,809 |
| 7 years | $-10,773 |
| 9 years | $-8,736 |
| 11 years | $-6,700 |
| 13 years | $-4,663 |
| 15 years | $-2,627 |
| 17 years | $-590 |
| 19 years | $1,447 |
| 21 years | $3,483 |
| 23 years | $5,520 |
| 25 years | $7,556 |
Top Solar Installers in Concord
When making the switch to solar, many homeowners prefer to use a solar company since putting up a solar system yourself can be a difficult project. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance over the lifespan of your panels.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
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 Concord
Factors that Affect Solar Panel Costs in Concord
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that determine your overall cost in Concord: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The kind of solar panels and equipment you get is another factor that will significantly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment consists of more than just the solar panels themselves. You’ll also need to consider 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
Many homeowners find the average cost of solar in Concord to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Concord is the company you hire to install your solar panel system. As with choosing a company to build a deck or pool, for instance, there’s no shortage of solar installers that provide a range of services for different budgets.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 with an above-average cost. It’s best to do some research and choose a company that has the products, warranties and services you’re looking for and also fit into 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 | $7,456 | 16.7 years |
| 8 kW | $3.48 | $19,478 | $10,323 | 16.3 years |
| 10 kW | $3.41 | $23,870 | $13,381 | 16.0 years |
| 12 kW | $3.34 | $28,071 | $16,630 | 15.7 years |
| 14 kW | $3.27 | $32,081 | $20,070 | 15.4 years |
| 16 kW | $3.21 | $35,900 | $23,701 | 15.1 years |
| 18 kW | $3.14 | $39,529 | $27,523 | 14.7 years |
| 20 kW | $3.07 | $42,966 | $31,536 | 14.4 years |
How to Save on Solar Panels
The solar panel company you go with will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, including:
- 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 substantial role in the company you hire.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one mark of a good company.
- Contract: Before signing a contract with a solar installer, be 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 if there are any guarantees about energy production.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Concord, OH Solar Cost FAQs
How much does it cost to install solar panels in Concord?
This is a tough question to answer exactly, because the cost depends on many 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How will having solar panels impact my home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Concord is currently $350,257, so you can look forward to a value of about $14,361 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Concord is a worthwhile investment.
How long do solar panels last in Concord?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.