Solar Panel Cost Guide in Groveport, OH (2023 Update)
- Groveport Solar Installation Cost: $13,530
- 25-Year Savings: $20,471
- Payback Period: 9.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Groveport
Find out how much it might cost to switch to solar power in Groveport.
In Groveport, solar panels cost about 2.56 per watt on average. Using this figure, a typical 7.5-kW system would cost about $13,530 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy consumption, the type of solar panels you choose, your solar contractor and more. But, once you've paid the initial cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $17,000 over 20 years on utility bills.
To receive a free estimate from a vetted solar installer in Groveport, you can click the button below.
Solar savings over time in Groveport
| Year | Return on Investment |
|---|---|
| 1 years | $-12,170 |
| 3 years | $-9,450 |
| 5 years | $-6,729 |
| 7 years | $-4,009 |
| 9 years | $-1,289 |
| 11 years | $1,431 |
| 13 years | $4,151 |
| 15 years | $6,871 |
| 17 years | $9,591 |
| 19 years | $12,311 |
| 21 years | $15,031 |
| 23 years | $17,751 |
| 25 years | $20,471 |
Top Solar Installers in Groveport
Many homeowners choose to use a solar installer since installing solar panels on your own can be a labor-intensive endeavor. A solar company can also help save you money over time by providing warranties, repairs and component replacements.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Groveport
Factors that Affect Solar Panel Costs in Groveport
The cost of installing a solar system in Groveport can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar system in Groveport, 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 figure out by looking at past electricity bills. Your overall cost can increase by around $2,560 for each additional kilowatt you need. The type of solar panels and equipment you want is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Furthermore, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many Groveport homeowners choose to finance their solar panel systems to make paying for solar more affordable. You'll have to consider the long-term cost of financing options, 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 principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you pick will influence your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, 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 | $2.66 | $11,182 | $15,850 | 10.3 years |
| 8 kW | $2.61 | $14,623 | $21,420 | 10.1 years |
| 10 kW | $2.56 | $17,920 | $27,133 | 9.9 years |
| 12 kW | $2.51 | $21,074 | $32,990 | 9.7 years |
| 14 kW | $2.46 | $24,084 | $38,990 | 9.5 years |
| 16 kW | $2.41 | $26,952 | $45,133 | 9.3 years |
| 18 kW | $2.36 | $29,676 | $51,420 | 9.1 years |
| 20 kW | $2.30 | $32,256 | $57,850 | 8.9 years |
How to Save on Solar Panels
There are many companies to choose from in Groveport, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: It's important to read your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Groveport, OH Solar Cost FAQs
How much does it cost to install solar panels in Groveport?
This is a hard question to answer precisely, because the cost depends on a variety of 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 cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How will solar panels impact the value of my home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Groveport is currently $135,929, which means you could be looking at a value of about $5,573 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Groveport is a rewarding 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 usage and how much 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 buy between 20 and 35 panels to cover 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.