Solar Panel Cost Guide in Fostoria, OH (2024 Update)
- Fostoria Solar Installation Cost: $18,096
- 25-Year Savings: $19,450
- Payback Period: 13.7 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Fostoria
Find out what the average cost of installing solar panels is in Fostoria.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Fostoria, the typical cost of a solar system is 3 per watt.The average solar panel system size in Fostoria is around 7.6 kilowatts, meaning a cost of about $18,096 for a solar installation, or $25,877 before the 0 federal solar tax credit is applied.
These figures are just averages, and how much solar costs for you will most likely look different based on the amount of energy your home requires and what company you go with.Many homeowners find installing a solar system is a solid investment. The average homeowner in Fostoria can save around $17,000 on their energy bills over 20 years.
To get a free estimate from a highly rated solar company in Fostoria, you can click the button below.
Solar savings over time in Fostoria
| Year | Return on Investment |
|---|---|
| 1 years | $-16,764 |
| 3 years | $-14,100 |
| 5 years | $-11,436 |
| 7 years | $-8,772 |
| 9 years | $-6,108 |
| 11 years | $-3,444 |
| 13 years | $-780 |
| 15 years | $1,885 |
| 17 years | $4,549 |
| 19 years | $7,213 |
| 21 years | $9,877 |
| 23 years | $12,541 |
| 25 years | $15,205 |
Top Solar Installers in Fostoria
Many homeowners opt for a solar panel installer since installing solar panels on your own can be hard. Another great thing about using a vetted solar installer is that it'll usually provide warranties and free repairs, which help protect your investment.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 Fostoria
Factors that Affect Solar Panel Costs in Fostoria
The cost of installing a solar system in Fostoria can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,410. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Fostoria, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, 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
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are provided by most installers in Fostoria, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also adds to your all-in costs, so it’s vital to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The final key cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Fostoria, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.Additionally, some companies in Fostoria have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, 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 | $3.55 | $14,895 | $11,251 | 14.2 years |
| 8 kW | $3.48 | $19,478 | $15,383 | 14.0 years |
| 10 kW | $3.41 | $23,870 | $19,707 | 13.7 years |
| 12 kW | $3.34 | $28,071 | $24,221 | 13.4 years |
| 14 kW | $3.27 | $32,081 | $28,926 | 13.1 years |
| 16 kW | $3.21 | $35,900 | $33,822 | 12.9 years |
| 18 kW | $3.14 | $39,529 | $38,909 | 12.6 years |
| 20 kW | $3.07 | $42,966 | $44,187 | 12.3 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. Since picking a company can be a challenge, we have some tips to help you, such as:
- Contract: When reading through your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and how long the project will take.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases provide high-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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 Fostoria, OH Solar Cost FAQs
How much does it cost to install solar panels in Fostoria?
The average cost of solar panels in Fostoria is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Fostoria is currently $97,417, so you could be looking at a value of about $3,994 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Fostoria is a worthwhile investment.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using 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.