Solar Panel Cost Guide in Granger, OH (2023 Update)
- Granger Solar Installation Cost: $13,619
- 25-Year Savings: $15,068
- Payback Period: 11.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Granger
Let's have a look at the average cost of solar in Granger.
Although the national average of solar panels is $2.66 per watt, solar panels in Granger typically cost around 2.56. The average Granger homeowner needs a 7.6-kilowatt system, which would cost about $13,619 with the federal tax credit, or $19,475 before the 30% tax credit is applied.
The true cost of your system can go higher or lower than the average in Granger depending on a variety of factors, such as the type of solar panels you choose and the solar installer you hire. Even with the significant initial cost, the average Granger homeowner can save around $14,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Granger
| Year | Return on Investment |
|---|---|
| 1 years | $-12,472 |
| 3 years | $-10,177 |
| 5 years | $-7,882 |
| 7 years | $-5,587 |
| 9 years | $-3,292 |
| 11 years | $-997 |
| 13 years | $1,298 |
| 15 years | $3,593 |
| 17 years | $5,888 |
| 19 years | $8,183 |
| 21 years | $10,478 |
| 23 years | $12,773 |
| 25 years | $15,068 |
Top Solar Installers in Granger
Trying to install solar panels on your own can be a stressful project, which is why hiring a solar installation company is a good option for many homeowners. Companies can also offer access to various kinds of the best solar panels and help you choose which one will be best for your family.
If you'd like to go solar but still aren't certain which solar installer to go with, here are our recommendations for providers nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Granger
Factors that Affect Solar Panel Costs in Granger
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that affect your total cost in Granger: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar system in Granger, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by around $2,560 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Granger, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Granger offer solar loans, which reduce your upfront costs of installing a solar system. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Granger is the company you get to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, you'll have many options for solar installers that offer a range of services for different budgets. The company's size sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $11,474 | 12.3 years |
| 8 kW | $2.61 | $14,623 | $15,586 | 12.1 years |
| 10 kW | $2.56 | $17,920 | $19,841 | 11.9 years |
| 12 kW | $2.51 | $21,074 | $24,239 | 11.6 years |
| 14 kW | $2.46 | $24,084 | $28,781 | 11.4 years |
| 16 kW | $2.41 | $26,952 | $33,466 | 11.2 years |
| 18 kW | $2.36 | $29,676 | $38,294 | 10.9 years |
| 20 kW | $2.30 | $32,256 | $43,266 | 10.7 years |
How to Save on Solar Panels
The solar panel company you opt for will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, such as:
- Contract: It's important to read through your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- 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 large role in the company you hire.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely provide high-quality solar panel installation and expertise.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Granger, OH Solar Cost FAQs
What is the average cost of installing solar panels in Granger?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally 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 more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Granger?
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 financial benefits from going solar.
Do solar panels increase your home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Granger is currently $211,816, which means you could be looking at a value of about $8,684 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Granger is a fruitful investment.
How long do solar panels last in Granger?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using 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.