Solar Panel Cost Guide in Gilead, OH (Mar 2023)
- Gilead Solar Installation Cost: $13,745
- 25-Year Savings: $16,004
- Payback Period: 11.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Gilead
Find out what the average cost of installing solar panels is in Gilead.
In Gilead, solar panels cost about 2.56 per watt on average. The average Gilead homeowner needs a 7.7-kilowatt system, which would cost about $13,745 with the federal tax credit, or $19,655 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of going solar can vary quite a bit depending on several factors, such as how many panels you need, your energy consumption and what solar installer you go with. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Gilead can save around $15,000 on their electricity bills over 20 years.
Click the button below to get connected to a reputable solar company in Gilead for a customized estimate.
Solar savings over time in Gilead
| Year | Return on Investment |
|---|---|
| 1 years | $-12,555 |
| 3 years | $-10,175 |
| 5 years | $-7,795 |
| 7 years | $-5,415 |
| 9 years | $-3,035 |
| 11 years | $-655 |
| 13 years | $1,724 |
| 15 years | $4,104 |
| 17 years | $6,484 |
| 19 years | $8,864 |
| 21 years | $11,244 |
| 23 years | $13,624 |
| 25 years | $16,004 |
Top Solar Installers in Gilead
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Going with a solar company can make converting to solar power much easier. The expertise that solar installers offer can be useful as well, particularly if you aren't sure what type of solar equipment you need.
There are several 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 (coming 2022)
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 Gilead
Factors that Affect Solar Panel Costs in Gilead
While the average cost of a solar system in Gilead is $13,745, your actual cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The size of the solar energy system you need for your household, 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 $2,560. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are an affordable choice because they cut back your upfront costs and let you pay for your system over five to seven years on average. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar company you choose to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Gilead, and each can charge varying amounts for labor and equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $12,095 | 12.0 years |
| 8 kW | $2.61 | $14,623 | $16,414 | 11.8 years |
| 10 kW | $2.56 | $17,920 | $20,875 | 11.5 years |
| 12 kW | $2.51 | $21,074 | $25,481 | 11.3 years |
| 14 kW | $2.46 | $24,084 | $30,229 | 11.1 years |
| 16 kW | $2.41 | $26,952 | $35,121 | 10.9 years |
| 18 kW | $2.36 | $29,676 | $40,156 | 10.6 years |
| 20 kW | $2.30 | $32,256 | $45,335 | 10.4 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, 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:
- Installation Process: One of the most important things to understand when adopting solar energy 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 secure and how long the project will take.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases offer quality solar panel installation and expertise.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Contract: Though 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.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Gilead, OH Solar Cost FAQs
What is the average cost of installing solar panels in Gilead?
This is a hard question to answer precisely, because the cost depends on many 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Gilead?
Leasing solar panels can be an option if you are unable to pay upfront or secure 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 bang for your buck from going solar.
Can solar panels completely eradicate my power bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Gilead, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Gilead?
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 the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having 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.