Solar Panel Cost Guide in Guilford, OH (2023 Update)
- Guilford Solar Installation Cost: $13,614
- 25-Year Savings: $16,098
- Payback Period: 11.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Guilford
Here's how much it might cost to install solar panels in Guilford.
The national average cost of solar panels is $2.66 per watt, but in Guilford it's 2.56 per watt. Since a 7.6-kW system is needed to cover the energy consumption of a typical home in Guilford, the average price of going solar will be about $13,619 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of solar system you choose, your solar contractor and more. For most homeowners, the upfront cost of solar power is worth paying. On average Guilford homeowners see about $15,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a top solar installer in Guilford for a quote for your home.
Solar savings over time in Guilford
| Year | Return on Investment |
|---|---|
| 1 years | $-12,394 |
| 3 years | $-9,953 |
| 5 years | $-7,513 |
| 7 years | $-5,072 |
| 9 years | $-2,632 |
| 11 years | $-191 |
| 13 years | $2,249 |
| 15 years | $4,690 |
| 17 years | $7,130 |
| 19 years | $9,571 |
| 21 years | $12,011 |
| 23 years | $14,452 |
| 25 years | $16,892 |
Top Solar Installers in Guilford
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Going with a solar company can make your switch to solar power much easier. Companies can also have access to a large variety of the best solar panels and help you choose which one will be right for your family.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Guilford
Factors that Affect Solar Panel Costs in Guilford
There are many factors that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater 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 $2,560. The model of solar panels and equipment you choose is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to think about 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 for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Guilford to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in higher prices 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Guilford, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Guilford know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, 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 | $12,284 | 11.9 years |
| 8 kW | $2.61 | $14,623 | $16,665 | 11.7 years |
| 10 kW | $2.56 | $17,920 | $21,190 | 11.5 years |
| 12 kW | $2.51 | $21,074 | $25,858 | 11.2 years |
| 14 kW | $2.46 | $24,084 | $30,669 | 11.0 years |
| 16 kW | $2.41 | $26,952 | $35,624 | 10.8 years |
| 18 kW | $2.36 | $29,676 | $40,722 | 10.5 years |
| 20 kW | $2.30 | $32,256 | $45,964 | 10.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Contract: Before signing a contract with a solar company, make sure to look it over completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can research your installer's reputation is by reading reviews.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Guilford, OH Solar Cost FAQs
What is the average cost of installing solar panels in Guilford?
The average cost of solar panels in Guilford is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Guilford?
A solar panel system isn't free in Guilford, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How much can I save on energy bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Guilford, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Guilford?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can 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.