Solar Panel Cost Guide in Georgetown, OH (2023 Update)
- Georgetown Solar Installation Cost: $13,225
- 25-Year Savings: $10,964
- Payback Period: 13.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Georgetown
Let's take a look at the average cost of solar panels in Georgetown.
In Georgetown, solar panels cost about 2.56 per watt on average. The average solar panel system size in Georgetown is around 7.4 kilowatts, meaning a cost of about $13,225 for a solar installation, or $18,912 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Georgetown homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find installing solar panels is a sound investment. The average homeowner in Georgetown can save about $12,000 on their power bills over 20 years.
To receive a free estimate from a top solar installer in Georgetown, you can click the button below.
Solar savings over time in Georgetown
| Year | Return on Investment |
|---|---|
| 1 years | $-12,257 |
| 3 years | $-10,322 |
| 5 years | $-8,387 |
| 7 years | $-6,452 |
| 9 years | $-4,517 |
| 11 years | $-2,582 |
| 13 years | $-647 |
| 15 years | $1,288 |
| 17 years | $3,223 |
| 19 years | $5,158 |
| 21 years | $7,093 |
| 23 years | $9,028 |
| 25 years | $10,964 |
Top Solar Installers in Georgetown
Although it's possible to install solar panels by yourself, it involves extra labor and know-how. That's why the majority of homeowners choose a solar panel installer. A solar company can also help save you money over time by offering warranties, repairs and system component replacements.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Georgetown
Factors that Affect Solar Panel Costs in Georgetown
There are several factors that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Georgetown, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can figure out by looking at past energy bills. Your total cost can increase by around $2,560 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Georgetown, 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
Many homeowners find the average cost of solar in Georgetown to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you choose will influence your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $8,478 | 14.2 years |
| 8 kW | $2.61 | $14,623 | $11,591 | 13.9 years |
| 10 kW | $2.56 | $17,920 | $14,848 | 13.7 years |
| 12 kW | $2.51 | $21,074 | $18,247 | 13.4 years |
| 14 kW | $2.46 | $24,084 | $21,790 | 13.1 years |
| 16 kW | $2.41 | $26,952 | $25,476 | 12.9 years |
| 18 kW | $2.36 | $29,676 | $29,306 | 12.6 years |
| 20 kW | $2.30 | $32,256 | $33,279 | 12.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: Before you sign a contract with a solar company, make sure to look it over 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 what services you can expect from them.
- Installation Process: When going solar, it's necessary to keep an open line of communication with your solar company. See to it that you understand how the installation process works and the completion timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before deciding.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
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 Georgetown, OH Solar Cost FAQs
What is the average cost of installing solar panels in Georgetown?
This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly 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 cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Georgetown?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Can you sell solar power back to the grid in Georgetown?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.