Solar Panel Cost Guide in Georgetown, OH (2024 Update)
- Georgetown Solar Installation Cost: $17,620
- 25-Year Savings: $10,960
- Payback Period: 18.2 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Georgetown
Find out what the average cost of installing solar panels is in Georgetown.
The national average cost of solar panels is $2.66 per watt, but in Georgetown it’s 3 per watt.Because a 7.4-kW system is needed to cover the energy usage of a typical home in Georgetown, the average price of going solar will be about $17,620 after claiming the federal solar tax credit of 0.
Keep 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 you, like your household energy use and solar contractor.For many homeowners, the upfront investment in solar power is worth paying. On average Georgetown homeowners see about $12,000 in savings on energy bills over 20 years.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Georgetown
Year | Return on Investment |
---|---|
1 years | $-16,455 |
3 years | $-14,125 |
5 years | $-11,795 |
7 years | $-9,466 |
9 years | $-7,136 |
11 years | $-4,806 |
13 years | $-2,476 |
15 years | $-146 |
17 years | $2,184 |
19 years | $4,514 |
21 years | $6,844 |
23 years | $9,174 |
25 years | $11,504 |
Top Solar Installers in Georgetown
Although it's possible to install solar panels on your own, it involves extra time and knowledge. Because of that, the majority of homeowners choose a solar panel installer. Another good thing about choosing a reputable solar installer is that it'll provide warranties and free repairs, which help protect your solar system over time.
If you're on the hunt for a solar company in Georgetown, the EcoWatch team has compiled a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
See all of the solar companies in Georgetown
Factors that Affect Solar Panel Costs in Georgetown
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that will push your cost above or below the average in Georgetown: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.The model of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are provided by most installers in Georgetown, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable.When considering your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Georgetown, 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 Georgetown are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $3.55 | $14,895 | $4,766 | 18.9 years |
8 kW | $3.48 | $19,478 | $6,736 | 18.6 years |
10 kW | $3.41 | $23,870 | $8,898 | 18.2 years |
12 kW | $3.34 | $28,071 | $11,250 | 17.8 years |
14 kW | $3.27 | $32,081 | $13,793 | 17.5 years |
16 kW | $3.21 | $35,900 | $16,528 | 17.1 years |
18 kW | $3.14 | $39,529 | $19,453 | 16.8 years |
20 kW | $3.07 | $42,966 | $22,569 | 16.4 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely provide quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
EcoWatch's Georgetown, OH Solar Cost FAQs
What is the average cost of installing solar panels in Georgetown?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,050 for a 5-kW system and $34,100 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 above-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Georgetown?
Leasing solar panels can be an attractive choice, because it typically 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 tax rebates and credits 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 power bills.
How often do you have to replace solar panels?
On average, solar panels can last 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.