Solar Panel Cost Guide in Coventry, OH (2024 Update)
- Coventry Solar Installation Cost: $18,650
- 25-Year Savings: $12,436
- Payback Period: 17.6 Years
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Average Cost of Solar Panels in Coventry
Find out what the average cost of a solar system is in Coventry.
In Coventry, solar panels cost about 3 per watt on average.The average Coventry homeowner needs a 7.8-kilowatt system, which would cost about $18,650 with the federal tax credit, or $26,670 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of installing solar panels can vary quite a bit based on several factors, such as how many panels you need, your energy usage and what installation company you go with.Many homeowners find going solar is a rewarding investment. The average homeowner in Coventry can save around $13,000 on their electricity bills over 20 years.
To receive a free quote from a vetted solar installer in Coventry, you can click the button below.
Solar savings over time in Coventry
| Year | Return on Investment |
|---|---|
| 1 years | $-17,430 |
| 3 years | $-14,989 |
| 5 years | $-12,549 |
| 7 years | $-10,108 |
| 9 years | $-7,668 |
| 11 years | $-5,227 |
| 13 years | $-2,787 |
| 15 years | $-346 |
| 17 years | $2,094 |
| 19 years | $4,535 |
| 21 years | $6,975 |
| 23 years | $9,416 |
| 25 years | $11,856 |
Top Solar Installers in Coventry
Although it's possible to install solar panels on your own, it takes extra time and handiness. That's one of the reasons most homeowners choose a solar panel installer. The expertise that solar installers provide can be useful as well, especially if you aren’t sure what type of solar equipment would be right for your home.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
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 Coventry
Factors that Affect Solar Panel Costs in Coventry
The cost of installing a solar system in Coventry can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,410. The brand of solar panels and equipment you choose is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Moreover, 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 researching a solar system that’s in your budget.
Solar Financing Terms
Most solar installers in Coventry have solar loans, which reduce the initial cost of installing solar panels.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you select will impact your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Coventry are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $3.55 | $14,895 | $5,407 | 18.3 years |
| 8 kW | $3.48 | $19,478 | $7,592 | 18.0 years |
| 10 kW | $3.41 | $23,870 | $9,967 | 17.6 years |
| 12 kW | $3.34 | $28,071 | $12,534 | 17.3 years |
| 14 kW | $3.27 | $32,081 | $15,291 | 16.9 years |
| 16 kW | $3.21 | $35,900 | $18,239 | 16.6 years |
| 18 kW | $3.14 | $39,529 | $21,378 | 16.2 years |
| 20 kW | $3.07 | $42,966 | $24,708 | 15.9 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose considerably influences 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: Warranties that provide coverage for defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a quality company.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely provide good-quality solar panel installation and expertise.
- Contract: When looking through your solar installer’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Installation Process: Make sure you’re aligned with the installer in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Coventry, OH Solar Cost FAQs
How much does it cost to install solar panels in Coventry?
This is a hard question to answer precisely, because the cost depends on a few different 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 be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to consider when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Coventry?
The majority of states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.