Solar Panel Cost Guide in Deerfield, OH (2023 Update)
- Deerfield Solar Installation Cost: $13,332
- 25-Year Savings: $10,856
- Payback Period: 13.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Deerfield
We go over average solar pricing in Deerfield.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Deerfield, the typical cost of a solar system is 2.56 per watt. To account for the typical energy needs of the average home in Deerfield, most homeowners require a 7.4-kilowatt system. Using the per-watt figure above, a solar installation costs around $13,332, or $19,065 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy consumption, the type of solar panels you want, your solar contractor and more. With average savings of about $12,000 on energy bills over 20 years, many homeowners in Deerfield find investing in solar has a decent ROI.
Click the button below to get connected to a top solar panel company in your area for a personalized quote.
Solar savings over time in Deerfield
| Year | Return on Investment |
|---|---|
| 1 years | $-12,365 |
| 3 years | $-10,430 |
| 5 years | $-8,495 |
| 7 years | $-6,560 |
| 9 years | $-4,625 |
| 11 years | $-2,690 |
| 13 years | $-754 |
| 15 years | $1,181 |
| 17 years | $3,116 |
| 19 years | $5,051 |
| 21 years | $6,986 |
| 23 years | $8,921 |
| 25 years | $10,856 |
Top Solar Installers in Deerfield
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Using a solar company can make switching to solar power much easier. The payback period of solar panels will vary depending on factors like your roof configuration and energy usage, but working with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you identify incentives available in your area.
If you'd like to go solar but still aren't sure which solar panel company 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 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 Deerfield
Factors that Affect Solar Panel Costs in Deerfield
For many Deerfield homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Deerfield, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,560. The type of solar panels and equipment you want is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. 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 looking for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are available from most installers in Deerfield, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable. 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 can only 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 interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Deerfield is the company you hire to install your PV system. Similar to choosing a company to build a deck or pool, for instance, there's no shortage of solar installers that offer a range of services for different budgets. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $8,334 | 14.3 years |
| 8 kW | $2.61 | $14,623 | $11,399 | 14.0 years |
| 10 kW | $2.56 | $17,920 | $14,607 | 13.8 years |
| 12 kW | $2.51 | $21,074 | $17,959 | 13.5 years |
| 14 kW | $2.46 | $24,084 | $21,454 | 13.2 years |
| 16 kW | $2.41 | $26,952 | $25,092 | 12.9 years |
| 18 kW | $2.36 | $29,676 | $28,874 | 12.7 years |
| 20 kW | $2.30 | $32,256 | $32,799 | 12.4 years |
How to Save on Solar Panels
There are numerous companies to choose from in Deerfield, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Companies that have been operating for many years 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 service, such as part repairs and replacements.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Deerfield, OH Solar Cost FAQs
What is the average cost of installing solar panels in Deerfield?
The average cost of solar panels in Deerfield is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will having solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Deerfield is currently $253,528, which means you can look forward to a value of about $10,395 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Deerfield is a worthwhile investment.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.