Solar Panel Cost Guide in Elkrun, OH (2023 Update)
- Elkrun Solar Installation Cost: $14,031
- 25-Year Savings: $13,684
- Payback Period: 12.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Elkrun
We break down average solar pricing in Elkrun.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Elkrun, the typical cost of a solar system is 2.56 per watt. To account for the typical energy usage of the average home in Elkrun, most homeowners require a 7.8-kilowatt system. Using the figure above, a solar installation costs about $14,031, or $20,064 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy use, the type of solar panels you want to get, your solar contractor and more. Even with the large upfront cost, the average Elkrun homeowner can save around $13,000 on their electricity bills over 20 years, which is one of the positives of solar.
You can click the button below to get connected with a top solar installer in Elkrun that can help you get a more accurate cost estimate for your home.
Solar savings over time in Elkrun
| Year | Return on Investment |
|---|---|
| 1 years | $-12,923 |
| 3 years | $-10,706 |
| 5 years | $-8,488 |
| 7 years | $-6,271 |
| 9 years | $-4,054 |
| 11 years | $-1,837 |
| 13 years | $380 |
| 15 years | $2,598 |
| 17 years | $4,815 |
| 19 years | $7,032 |
| 21 years | $9,249 |
| 23 years | $11,466 |
| 25 years | $13,684 |
Top Solar Installers in Elkrun
Although you can install solar panels on your own, it takes extra time and handiness. Because of that, the majority of homeowners choose to go with a solar panel installer. Plus, if you'd like to maximize your investment in solar energy, using a solar company can help with that as well. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives, rebates and net metering programs.
Working with a vetted solar company can make going solar easier. 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 Elkrun
Factors that Affect Solar Panel Costs in Elkrun
The cost of installing a solar system in Elkrun can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,560. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Elkrun, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, 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 installers in Elkrun provide solar loans, which reduce the initial cost of installing solar. You'll have to consider the long-term cost of loans, including the amount of 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 interest rate could reduce your costs significantly.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can play a role in determining the cost. Elkrun's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Elkrun know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $10,054 | 13.2 years |
| 8 kW | $2.61 | $14,623 | $13,692 | 12.9 years |
| 10 kW | $2.56 | $17,920 | $17,473 | 12.7 years |
| 12 kW | $2.51 | $21,074 | $21,398 | 12.4 years |
| 14 kW | $2.46 | $24,084 | $25,466 | 12.2 years |
| 16 kW | $2.41 | $26,952 | $29,678 | 11.9 years |
| 18 kW | $2.36 | $29,676 | $34,033 | 11.6 years |
| 20 kW | $2.30 | $32,256 | $38,531 | 11.4 years |
How to Save on Solar Panels
There are a large number of companies available in Elkrun, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: When looking over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Reputation: Your solar installer should have a good 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 past customers.
- Warranty: A high-quality company rises above other companies by offering 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 (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 Elkrun, OH Solar Cost FAQs
How much does it cost to install solar panels in Elkrun?
The average cost of solar panels in Elkrun is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Elkrun have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces 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 often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.