Solar Panel Cost Guide in Dry Ridge, OH (2023 Update)
- Dry Ridge Solar Installation Cost: $13,240
- 25-Year Savings: $15,016
- Payback Period: 11.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Dry Ridge
Here's how much it might cost to switch to solar power in Dry Ridge.
In Dry Ridge, solar panels cost about 2.56 per watt on average. Since a 7.4-kW system is needed to cover the energy consumption of a typical home in Dry Ridge, the average price of going solar will be about $13,243 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy consumption, the type of solar system you choose, your solar contractor and more. Despite the large initial cost, the average Dry Ridge homeowner can save around $15,000 on their power bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a pre-vetted solar installer in Dry Ridge that can help you get a more accurate cost estimate for your home.
Solar savings over time in Dry Ridge
| Year | Return on Investment |
|---|---|
| 1 years | $-12,075 |
| 3 years | $-9,745 |
| 5 years | $-7,415 |
| 7 years | $-5,085 |
| 9 years | $-2,755 |
| 11 years | $-425 |
| 13 years | $1,905 |
| 15 years | $4,235 |
| 17 years | $6,565 |
| 19 years | $8,895 |
| 21 years | $11,225 |
| 23 years | $13,555 |
| 25 years | $15,885 |
Top Solar Installers in Dry Ridge
Installing solar panels by yourself can be a dangerous project, which is why using a solar installation company is a good option for many homeowners. Companies can also provide access to various kinds of the best solar panels and help you choose which one will be best for your family.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Dry Ridge
Factors that Affect Solar Panel Costs in Dry Ridge
Although the average cost of a solar system in Dry Ridge is $13,243, your actual cost may be above or below the average. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
When it comes to estimating the price of a solar panel system in Dry Ridge, 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 gauge by looking at past power bills. Your overall cost can increase by about $2,560 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Dry Ridge, 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 a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Dry Ridge, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you go with to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar installation companies in Dry Ridge, and each can charge varying amounts for labor and equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and go with the company that provides the products, warranties and services you're looking for and also is within 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 | $2.66 | $11,182 | $11,764 | 12.2 years |
| 8 kW | $2.61 | $14,623 | $15,972 | 11.9 years |
| 10 kW | $2.56 | $17,920 | $20,323 | 11.7 years |
| 12 kW | $2.51 | $21,074 | $24,818 | 11.5 years |
| 14 kW | $2.46 | $24,084 | $29,456 | 11.2 years |
| 16 kW | $2.41 | $26,952 | $34,237 | 11.0 years |
| 18 kW | $2.36 | $29,676 | $39,162 | 10.8 years |
| 20 kW | $2.30 | $32,256 | $44,230 | 10.5 years |
How to Save on Solar Panels
The solar company you go with will affect 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 a few important things you should consider, such as:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- 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 you can expect about your solar system's energy production.
- Installation Process: When making the switch to solar power, it's important to maintain an open line of communication with your solar panel company. See to it that you understand how the installation process will go and the completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Dry Ridge, OH Solar Cost FAQs
How much does it cost to install solar panels in Dry Ridge?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $12,800 for a 5-kW system and $25,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Dry Ridge?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
How much can I save on power bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Dry Ridge, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household 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.