Solar Panel Cost Guide in Dry Ridge, OH (Mar 2023)
- Dry Ridge Solar Installation Cost: $13,243
- 25-Year Savings: $15,013
- Payback Period: 11.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Dry Ridge
Let's have a look at the average cost of solar in Dry Ridge.
Although the national average of solar panels is $2.66 per watt, solar panels in Dry Ridge generally cost around 2.56. The average Dry Ridge homeowner needs a 7.4-kilowatt system, which would cost about $13,243 with the federal tax credit, or $18,937 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of equipment you want to get, 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.
Click the button below to get connected to a reputable solar panel company in your area for a custom quote.
Solar savings over time in Dry Ridge
| Year | Return on Investment |
|---|---|
| 1 years | $-12,113 |
| 3 years | $-9,852 |
| 5 years | $-7,592 |
| 7 years | $-5,331 |
| 9 years | $-3,071 |
| 11 years | $-810 |
| 13 years | $1,450 |
| 15 years | $3,711 |
| 17 years | $5,971 |
| 19 years | $8,231 |
| 21 years | $10,492 |
| 23 years | $12,752 |
| 25 years | $15,013 |
Top Solar Installers in Dry Ridge
When going solar, many homeowners opt to hire a solar installation company since handling can be a difficult project. Plus, if you're unsure what kind of solar panels and equipment you need, a solar company can help you find the right equipment for you after a site survey and consultation.
You can work with a local solar installer to get a free quote on the cost of solar panels 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 (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Dry Ridge
Factors that Affect Solar Panel Costs in Dry Ridge
There are several factors that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most significant 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 energy your household consumes, the larger your system will likely need to be. You can expect to spend about $2,560 per kilowatt in Dry Ridge. Some solar brands — like Maxeon from SunPower — are more costly 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Dry Ridge have solar loans, which reduce the initial cost of installing solar panels. However, the interest on solar loans also increases your total costs, so it's crucial to consider that as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you pick will impact your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. You may see national solar installers that have lower prices due to 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 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 | $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
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before deciding.
- Installation Process: When going solar, it's necessary to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process works and the project timeline.
- Warranty: Companies typically 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.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Dry Ridge, OH Solar Cost FAQs
How much does it cost to install solar panels in Dry Ridge?
The average cost of solar panels in Dry Ridge 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 like the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Dry Ridge?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Is it worth going solar in Dry Ridge?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt 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.