Solar Panel Cost Guide in Fostoria, OH (2023 Update)
- Fostoria Solar Installation Cost: $13,583
- 25-Year Savings: $19,452
- Payback Period: 10.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Fostoria
We break down average solar pricing in Fostoria.
The national average cost of solar panels is $2.66 per watt, but in Fostoria it's 2.56 per watt. To account for the typical energy needs of the average home in Fostoria, most homeowners require a 7.6-kilowatt system. Using the figure above, a solar installation costs about $13,583, or $19,424 before the federal solar tax credit of 30% is applied.
These figures are only estimates, and your own solar costs will look different based on your specific situation and what company you want to go with. For most homeowners, the upfront cost of solar panels is worth paying. On average Fostoria homeowners see about $17,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a top solar installer in Fostoria that can help you get a more accurate cost estimate for your home.
Solar savings over time in Fostoria
| Year | Return on Investment |
|---|---|
| 1 years | $-12,262 |
| 3 years | $-9,619 |
| 5 years | $-6,976 |
| 7 years | $-4,333 |
| 9 years | $-1,691 |
| 11 years | $952 |
| 13 years | $3,595 |
| 15 years | $6,238 |
| 17 years | $8,881 |
| 19 years | $11,524 |
| 21 years | $14,166 |
| 23 years | $16,809 |
| 25 years | $19,452 |
Top Solar Installers in Fostoria
Although you can install solar panels on your own, it takes extra labor and know-how. Because of that, almost all homeowners choose a solar panel installer. Companies can also have access to quality options of the best solar panels and help you pick which one will be right for your family.
If you're on the hunt for a solar installer in Fostoria, we've put together a list of our top suggestions here:
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 Fostoria
Factors that Affect Solar Panel Costs in Fostoria
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that determine your overall cost in Fostoria: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss 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 about $2,560. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Fostoria, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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
If paying for a solar system out of pocket is too expensive, solar loans are a solid choice because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. However, the interest on solar loans also adds to your all-in costs, so it's important to consider that as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Fostoria, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Fostoria know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. 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 | $14,964 | 10.7 years |
| 8 kW | $2.61 | $14,623 | $20,239 | 10.5 years |
| 10 kW | $2.56 | $17,920 | $25,657 | 10.3 years |
| 12 kW | $2.51 | $21,074 | $31,218 | 10.1 years |
| 14 kW | $2.46 | $24,084 | $36,923 | 9.9 years |
| 16 kW | $2.41 | $26,952 | $42,771 | 9.7 years |
| 18 kW | $2.36 | $29,676 | $48,762 | 9.5 years |
| 20 kW | $2.30 | $32,256 | $54,897 | 9.3 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: It's important to read your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
- Solar Panel Brands: The kind of solar panel you'd like to get plays a role in which installer you should choose, since different companies have access to different panels.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely provide good-quality solar panel installation and expertise.
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 Fostoria, OH Solar Cost FAQs
What is the average cost of installing solar panels in Fostoria?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 extra solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Are solar panels free in Fostoria?
A solar panel system isn't free in Fostoria, 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.
Is it worth going solar in Fostoria?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How long do solar panels last in Fostoria?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use 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.