Solar Panel Cost Guide in Edgewood, OH (2023 Update)
- Edgewood Solar Installation Cost: $14,031
- 25-Year Savings: $13,349
- Payback Period: 12.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Edgewood
Find out what the average cost of solar panel installation is in Edgewood.
Although the national average of solar panels is $2.66 per watt, solar panels in Edgewood typically cost about 2.56. Since a 7.8-kW system is needed to cover the energy costs of a typical home in Edgewood, the average price of going solar will be about $14,031 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average Edgewood homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. For many homeowners, the upfront investment in solar panels is worth paying. On average Edgewood homeowners see about $13,000 in savings on energy bills over 20 years.
To get a free estimate from a top solar installation company in Edgewood, you can click the button below.
Solar savings over time in Edgewood
| Year | Return on Investment |
|---|---|
| 1 years | $-12,936 |
| 3 years | $-10,746 |
| 5 years | $-8,555 |
| 7 years | $-6,365 |
| 9 years | $-4,175 |
| 11 years | $-1,984 |
| 13 years | $206 |
| 15 years | $2,397 |
| 17 years | $4,587 |
| 19 years | $6,777 |
| 21 years | $8,968 |
| 23 years | $11,158 |
| 25 years | $13,349 |
Top Solar Installers in Edgewood
Although it's possible to install solar panels by yourself, it takes extra energy and knowledge. That's one of the reasons the majority of homeowners choose to go with a solar panel installer. The expertise that solar companies provide can be valuable as well, especially if you aren't sure what brand of solar equipment would be right for your home.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
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 Edgewood
Factors that Affect Solar Panel Costs in Edgewood
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Edgewood: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,560. There are several different solar panel brands and the one you choose also changes the cost. Typically, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Edgewood homeowners decide to finance their solar panel systems to offset upfront costs. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to 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 getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Edgewood is the company you hire to install your PV system. Similar to choosing a company to renovate your kitchen, for instance, you'll have no shortage of solar installers that provide a range of services at different costs. Additionally, some companies in Edgewood have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $9,802 | 13.3 years |
| 8 kW | $2.61 | $14,623 | $13,356 | 13.1 years |
| 10 kW | $2.56 | $17,920 | $17,053 | 12.8 years |
| 12 kW | $2.51 | $21,074 | $20,894 | 12.6 years |
| 14 kW | $2.46 | $24,084 | $24,878 | 12.3 years |
| 16 kW | $2.41 | $26,952 | $29,005 | 12.0 years |
| 18 kW | $2.36 | $29,676 | $33,276 | 11.8 years |
| 20 kW | $2.30 | $32,256 | $37,690 | 11.5 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which brand 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 ask for their list of options before deciding.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Before signing a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and if there are any guarantees about 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 Edgewood, OH Solar Cost FAQs
What is the average cost of installing solar panels in Edgewood?
The average cost of solar panels in Edgewood 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 kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Edgewood?
A solar panel system isn't free in Edgewood, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can you sell solar power back to the grid in Edgewood?
The majority of states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a 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 cover 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.