Solar Panel Cost Guide in Gilead, OH (2024 Update)
- Gilead Solar Installation Cost: $18,303
- 25-Year Savings: $16,007
- Payback Period: 15.4 Years
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Average Cost of Solar Panels in Gilead
We go over average solar pricing in Gilead.
In Gilead, solar panels cost about 3 per watt on average.The average solar panel system size in Gilead is around 7.7 kilowatts, meaning a cost of about $18,303 for a solar installation, or $26,173 before the 0 federal solar 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 making the switch to solar can vary based on several factors, such as how many panels you need, your energy consumption and what installation company you go with.With typical savings of about $15,000 on energy bills over 20 years, many homeowners in Gilead find installing solar panels can be quite rewarding.
To receive a free quote from a highly rated solar installer in Gilead, you can click the button below.
Solar savings over time in Gilead
| Year | Return on Investment |
|---|---|
| 1 years | $-17,083 |
| 3 years | $-14,643 |
| 5 years | $-12,202 |
| 7 years | $-9,762 |
| 9 years | $-7,321 |
| 11 years | $-4,881 |
| 13 years | $-2,440 |
| 15 years | $0 |
| 17 years | $2,441 |
| 19 years | $4,881 |
| 21 years | $7,322 |
| 23 years | $9,762 |
| 25 years | $12,202 |
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 panel installer can make your switch to solar power much easier. The expertise that solar installers provide can be invaluable as well, particularly if you aren’t sure what kind of solar equipment would be right for your home.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Gilead: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $3,410 per kilowatt in Gilead.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your power bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Gilead average.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are an affordable option because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Gilead is the company you get to install your solar system. As with choosing a company to install new cabinets, for example, there’s no shortage of solar installers that offer a range of services at different costs.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $8,382 | 16.0 years |
| 8 kW | $3.48 | $19,478 | $11,558 | 15.7 years |
| 10 kW | $3.41 | $23,870 | $14,925 | 15.4 years |
| 12 kW | $3.34 | $28,071 | $18,483 | 15.1 years |
| 14 kW | $3.27 | $32,081 | $22,232 | 14.8 years |
| 16 kW | $3.21 | $35,900 | $26,172 | 14.5 years |
| 18 kW | $3.14 | $39,529 | $30,303 | 14.2 years |
| 20 kW | $3.07 | $42,966 | $34,625 | 13.8 years |
How to Save on Solar Panels
There are many 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:
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though 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 be sure to ask for their list of offerings before making your decision.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify 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, 25-year warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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
How much does it cost to install solar panels in Gilead?
This is a difficult question to answer precisely, because the cost depends on many 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 consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Gilead?
Leasing solar panels can be an option if you can’t afford 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 financial benefits from going solar.
Do solar panels increase the value of your home?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses 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 home 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.