Solar Panel Cost Guide in Goshen, OH (2024 Update)

  • Goshen Solar Installation Cost: $17,585
  • 25-Year Savings: $10,987
  • Payback Period: 18.2 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Goshen

Let’s have a look at the average cost of solar panels in Goshen.

The national average cost of solar panels is $2.66 per watt, but in Goshen it’s 3 per watt.The average solar panel system size in Goshen is around 7.4 kilowatts, meaning a cost of about $17,585 for a solar installation, or $25,147 before the 0 federal solar tax credit is applied.

Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy use, the type of solar panels you want, your solar contractor and more.For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Goshen see about $12,000 in savings on electricity bills over 20 years.

For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Goshen

Year Return on Investment
1 years $-16,420
3 years $-14,090
5 years $-11,760
7 years $-9,430
9 years $-7,100
11 years $-4,770
13 years $-2,440
15 years $-110
17 years $2,220
19 years $4,550
21 years $6,880
23 years $9,210
25 years $11,540

Top Solar Installers in Goshen

Trying to install solar panels yourself can be a difficult task, which is why using a solar installer is a good option for many homeowners. Plus, if you’re unsure what type of solar panels and equipment you want, a solar expert can help you figure that out after a site survey and consultation.

There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • 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 Goshen

Factors that Affect Solar Panel Costs in Goshen

Although the average cost of a solar system in Goshen is $17,585, your final 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 cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,410.The model of solar panels and equipment you get is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment is more than just the solar panels themselves. You’ll also need to decide on 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

Many homeowners find the average cost of solar in Goshen to be too costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.

Solar Panel Installation Company

The solar panel installation company you choose will impact your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and decide on the company that provides the products, warranties and services you want and also fits within your budget.

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 $4,805 18.9 years
8 kW $3.48 $19,478 $6,789 18.5 years
10 kW $3.41 $23,870 $8,964 18.2 years
12 kW $3.34 $28,071 $11,329 17.8 years
14 kW $3.27 $32,081 $13,886 17.4 years
16 kW $3.21 $35,900 $16,633 17.1 years
18 kW $3.14 $39,529 $19,572 16.7 years
20 kW $3.07 $42,966 $22,701 16.4 years

How to Save on Solar Panels

There are a lot of companies available in Goshen, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:

  • Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
  • Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
  • Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases offer good-quality solar panel installation and expertise.
  • Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Goshen, OH Solar Cost FAQs

What is the average cost of installing solar panels in Goshen?

The average cost of solar panels in Goshen is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Goshen?

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 can’t take advantage of 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 your home value?

Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Goshen is currently $243,695, which means you can expect a value of about $9,991 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Goshen is a worthwhile investment.

How many solar panels do I need to power my home?

The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.

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.

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