Solar Panel Cost Guide in Eaton, OH (2023 Update)
- Eaton Solar Installation Cost: $13,332
- 25-Year Savings: $13,794
- Payback Period: 12.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Eaton
Let's take a look at the average cost of solar panels in Eaton.
The national average cost of solar panels is $2.66 per watt, but in Eaton it's 2.56 per watt. Using this figure, a typical 7.4-kW system would cost about $13,332 before the 30% federal solar tax credit is applied.
These figures are only averages, and the cost of going solar for you will most likely look different based on your specific situation and what company you go with. Even with the high initial cost, the average Eaton homeowner can save about $14,000 on their electricity bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a highly rated solar panel company in Eaton for a customized estimate.
Solar savings over time in Eaton
| Year | Return on Investment |
|---|---|
| 1 years | $-12,247 |
| 3 years | $-10,077 |
| 5 years | $-7,907 |
| 7 years | $-5,737 |
| 9 years | $-3,567 |
| 11 years | $-1,397 |
| 13 years | $773 |
| 15 years | $2,943 |
| 17 years | $5,114 |
| 19 years | $7,284 |
| 21 years | $9,454 |
| 23 years | $11,624 |
| 25 years | $13,794 |
Top Solar Installers in Eaton
Many homeowners choose to use a solar panel installer since installing solar panels by yourself can be a lot of work. Also, companies with a high reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you'd like to make the switch to solar but still aren't sure which solar installer to go with, here are our suggestions for providers in Eaton:
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 Eaton
Factors that Affect Solar Panel Costs in Eaton
For many Eaton homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Eaton, 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
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The brand and kind of equipment you want for your solar system can raise or lower 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 limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Eaton to be too steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest. 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Eaton, you'll have many options to choose from, but each comes at various price points for labor and equipment. The company's size can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger 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 | $10,683 | 12.8 years |
| 8 kW | $2.61 | $14,623 | $14,531 | 12.5 years |
| 10 kW | $2.56 | $17,920 | $18,522 | 12.3 years |
| 12 kW | $2.51 | $21,074 | $22,656 | 12.0 years |
| 14 kW | $2.46 | $24,084 | $26,934 | 11.8 years |
| 16 kW | $2.41 | $26,952 | $31,355 | 11.6 years |
| 18 kW | $2.36 | $29,676 | $35,920 | 11.3 years |
| 20 kW | $2.30 | $32,256 | $40,627 | 11.1 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose greatly influences your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Look through the contract terms carefully to make sure you understand the total cost, project completion timeline rebates and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Eaton, OH Solar Cost FAQs
What is the average cost of installing solar panels in Eaton?
The average cost of solar panels in Eaton 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 things such as 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 Eaton?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The downside 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.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
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 home 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.