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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Coventry, the average cost of a solar system is 3 per watt.To account for the typical energy needs of the average home in Coventry, most homeowners require a 7.8-kilowatt system. Using the figure above, a solar installation costs around $18,650, or $26,670 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of going solar can vary depending on a few factors, such as what size system you need, your energy usage and what installation company you go with.But, after you've paid the initial cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $13,000 over 20 years on power bills.
Click the button below to get connected to a reputable solar installer in Coventry for a custom estimate.
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 you can install solar panels by yourself, it takes extra labor and knowledge. That's one of the reasons the majority of homeowners choose to hire a solar panel installer. Companies can also offer access to various kinds of the best solar panels and help you pick which one will be right for you.
If you're searching for a solar company in Coventry, we've put together a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Coventry
Factors that Affect Solar Panel Costs in Coventry
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that affect your total cost in Coventry: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy 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 Coventry.The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a popular option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.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 bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can influence the cost. Coventry’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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 | $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 type of solar panels and the installer you choose greatly influences your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely offer high-quality solar panel installation and expertise.
- Contract: It’s important to read through your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Coventry, OH Solar Cost FAQs
How much does it cost to install solar panels in Coventry?
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 extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
The initial cost is a very important factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places 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.
Can you sell solar power back to the grid in Coventry?
Most states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Coventry?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.