Solar Panel Cost Guide in Finneytown, OH (2023 Update)
- Finneytown Solar Installation Cost: $13,240
- 25-Year Savings: $10,949
- Payback Period: 13.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Finneytown
Find out what the average cost of solar panel installation is in Finneytown.
The average cost of a solar system in Finneytown is 2.56 per watt. To account for the typical energy needs of the average home in Finneytown, most homeowners require a 7.4-kilowatt system. Using the per-watt figure above, a solar installation costs around $13,243, or $18,937 before the federal solar tax credit of 30% is applied.
The actual price you pay can go above or below the average in Finneytown depending on several factors, such as the type of solar panels you choose and the solar company you hire. But, after you've paid the initial cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $12,000 over 20 years on power bills.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Finneytown
| 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 Finneytown
Although you can install solar panels by yourself, it involves extra labor and handiness. Because of that, almost all homeowners choose to go with a solar panel installer. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and component replacements.
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 in Finneytown:
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 Finneytown
Factors that Affect Solar Panel Costs in Finneytown
The cost of installing a solar system in Finneytown can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $2,560 per kilowatt in Finneytown. There are several different solar panel brands and the one you choose also changes the cost. Generally speaking, 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 only 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 many years, but they can also be a significant investment. That's why many Finneytown homeowners decide to finance their solar panel systems to offset upfront costs. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you choose to install your solar panel system can affect the cost. Finneytown's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $8,461 | 14.2 years |
| 8 kW | $2.61 | $14,623 | $11,568 | 14.0 years |
| 10 kW | $2.56 | $17,920 | $14,818 | 13.7 years |
| 12 kW | $2.51 | $21,074 | $18,212 | 13.4 years |
| 14 kW | $2.46 | $24,084 | $21,749 | 13.1 years |
| 16 kW | $2.41 | $26,952 | $25,430 | 12.9 years |
| 18 kW | $2.36 | $29,676 | $29,253 | 12.6 years |
| 20 kW | $2.30 | $32,256 | $33,221 | 12.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Contract: Although reading through a contract can be tedious, it's important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: The brand of solar panel you need to install plays a role in which installer you should go with, since different companies have different panels.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Warranty: A quality company stands out from 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
EcoWatch's Finneytown, OH Solar Cost FAQs
How much does it cost to install solar panels in Finneytown?
This is a hard 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. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Finneytown?
Leasing solar panels can be an option if you can't afford to 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 home 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 savings from going solar.
Is it worth going solar in Finneytown?
Solar panels can be a great investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of 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 install 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.