Solar Panel Cost Guide in Greenhills, OH (2023 Update)
- Greenhills Solar Installation Cost: $13,240
- 25-Year Savings: $10,949
- Payback Period: 13.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Greenhills
Here's how much it might cost to install solar panels in Greenhills.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Greenhills, the typical cost of solar panels is 2.56 per watt. Using this figure, a typical 7.4-kW system would cost about $13,243 before the 30% federal solar tax credit is applied.
These figures are just averages, and the cost of going solar for you will look different based on factors unique to your home and what company you choose to go with. With typical savings of about $12,000 on utility bills over 20 years, many homeowners in Greenhills find investing in solar can be quite rewarding.
You can click the button below to get connected with a vetted solar installer in Greenhills that can help you get a more accurate cost estimate for your home.
Solar savings over time in Greenhills
| Year | Return on Investment |
|---|---|
| 1 years | $-13,159 |
| 3 years | $-12,998 |
| 5 years | $-12,837 |
| 7 years | $-12,676 |
| 9 years | $-12,514 |
| 11 years | $-12,353 |
| 13 years | $-12,192 |
| 15 years | $-12,031 |
| 17 years | $-11,869 |
| 19 years | $-11,708 |
| 21 years | $-11,547 |
| 23 years | $-11,386 |
| 25 years | $-11,224 |
Top Solar Installers in Greenhills
Although it's possible to install solar panels yourself, it requires extra energy and expertise. That's one of the reasons the majority of homeowners choose to hire a solar panel installer. The expertise that solar companies provide can be useful as well, especially if you aren't sure what type of solar equipment would be right for your home.
You can get a free quote from a local solar installer 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
See all of the solar companies in Greenhills
Factors that Affect Solar Panel Costs in Greenhills
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that determine your overall cost in Greenhills: 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
When it comes to estimating the price of a solar panel system in Greenhills, 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 usage, which you can gauge by looking at past electricity 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 higher efficiency. In a city like Greenhills, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited 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
Many homeowners find the average cost of solar in Greenhills to be too expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in paying more over time due to 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 securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Greenhills, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Greenhills are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $8,461 | 14.2 years |
| 8 kW | $2.61 | $14,623 | $11,568 | 14.0 years |
| 10 kW | $2.56 | $17,920 | $14,818 | 13.7 years |
| 12 kW | $2.51 | $21,074 | $18,212 | 13.4 years |
| 14 kW | $2.46 | $24,084 | $21,749 | 13.1 years |
| 16 kW | $2.41 | $26,952 | $25,430 | 12.9 years |
| 18 kW | $2.36 | $29,676 | $29,253 | 12.6 years |
| 20 kW | $2.30 | $32,256 | $33,221 | 12.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Installation Process: Make sure you're aligned with the installer with regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases provide good-quality solar panel installation and expertise.
- Solar Panel Brands: The kind of solar panel you want plays a role in which company you should go with, since different companies offer different panels.
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost 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
EcoWatch's Greenhills, OH Solar Cost FAQs
What is the average cost of installing solar panels in Greenhills?
This is a difficult 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 cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $654.77 per year.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely 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 after having 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.