Solar Panel Cost Guide in Hambden, OH (2024 Update)

  • Hambden Solar Installation Cost: $18,571
  • 25-Year Savings: $13,438
  • Payback Period: 17.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Hambden

Let’s have a look at the average cost of solar panels in Hambden.

While the national average of solar panels is $2.66 per watt, solar panels in Hambden generally cost around 3.The average solar panel system size in Hambden is around 7.8 kilowatts, meaning a cost of about $18,571 for a solar installation, or $26,557 before the 0 federal solar tax credit is applied.

Bear in mind that the figures above are only estimates based on the average Hambden homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually fruitful, with a net average savings of about $13,000 over 20 years on utility bills.

You can click the button below to get connected with a top solar installer in Hambden for a quote for your home.

Solar savings over time in Hambden

Year Return on Investment
1 years $-17,317
3 years $-14,810
5 years $-12,302
7 years $-9,794
9 years $-7,287
11 years $-4,779
13 years $-2,272
15 years $236
17 years $2,744
19 years $5,251
21 years $7,759
23 years $10,267
25 years $12,774

Top Solar Installers in Hambden

Many homeowners decide to use a solar installer since trying to put up solar panels by yourself can be challenging. Since solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.

There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

See all of the solar companies in Hambden

Factors that Affect Solar Panel Costs in Hambden

For many Hambden homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Hambden, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.

Solar Equipment

Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your electric bills. In addition, extra products, like solar batteries, can bump up your total well above the Hambden average.

Solar Financing Terms

For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Hambden, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible.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 getting a solar loan with a low interest rate could reduce your costs remarkably.

Solar Panel Installation Company

The solar installer you choose will play a role in your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor.Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra 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 $6,220 17.6 years
8 kW $3.48 $19,478 $8,676 17.3 years
10 kW $3.41 $23,870 $11,322 17.0 years
12 kW $3.34 $28,071 $14,160 16.6 years
14 kW $3.27 $32,081 $17,188 16.3 years
16 kW $3.21 $35,900 $20,407 15.9 years
18 kW $3.14 $39,529 $23,817 15.6 years
20 kW $3.07 $42,966 $27,418 15.3 years

How to Save on Solar Panels

The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:

  • Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and how long it will take.
  • Solar Panel Brands: Different companies will have various brands and models of panels. If you want a specific brand, make sure the solar panel installer you’re considering has it.
  • Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the cost.
  • Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Hambden, OH Solar Cost FAQs

How much does it cost to install solar panels in Hambden?

This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.

What other factors should I consider other than cost when buying solar panels?

The upfront cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas 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.

Can solar panels significantly reduce my energy bills?

It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Hambden, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.

How long do solar panels last in Hambden?

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 after having them for that long or you can continue to use 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.

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