Solar Panel Cost Guide in Goshen, OH (2025 Update)
- Goshen Solar Installation Cost: $17,585
- 25-Year Savings: $10,987
- Payback Period: 18.2 Years
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Average Cost of Solar Panels in Goshen
Let’s have a look at the average cost of solar panels in Goshen.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Goshen, the typical cost of solar panels is 3 per watt.Using this figure, a typical 7.4-kW system would cost about $17,585 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of solar panels you want to get, your solar contractor and more.Many homeowners find going solar is a rewarding investment. The average homeowner in Goshen can save about $12,000 on their electricity bills over 20 years.
To see your potential ROI and connect with a local solar expert, 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
Many homeowners choose to use a solar panel installer since trying to install solar panels yourself can be hard. Companies can also have access to various kinds of the best solar panels and help you pick which one will be best for your family.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in Goshen
Factors that Affect Solar Panel Costs in Goshen
While the average cost of a solar system in Goshen is $17,585, your final cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Goshen, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can determine by looking at past power bills. Your overall cost can increase by around $3,410 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Goshen, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of 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
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are available from most installers in Goshen, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also adds to your overall costs, so it’s vital to keep that in mind as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Goshen, you’ll have many options to choose from, but each comes at different price points for labor and equipment.Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $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
Since the kind of solar panels and the company you choose greatly impacts your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Contract: When looking over your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Reputation: Solar panel companies 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: The kind of solar panel you’d like to get plays a part in which installer you should go with, since different companies have access to different panels.
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 such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Goshen?
Leasing solar panels can be an option if you can’t pay upfront or get 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 bang for your buck from going solar.
How will solar panels impact the value of my home?
Solar panels can increase your home 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% after installing a solar system."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily 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.