Solar Panel Cost Guide in Hambden, OH (Mar 2023)
- Hambden Solar Installation Cost: $13,942
- 25-Year Savings: $13,438
- Payback Period: 12.7 Years
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Updated March 14, 2023
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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 typically cost about 2.56. Using this figure, a typical 7.8-kW system would cost about $13,942 before the 30% federal solar tax credit is applied.
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 use, the type of solar system you choose, your solar contractor and more. Despite the high initial cost, the average Hambden homeowner can save around $13,000 on their power bills over 20 years, which is one of the positives of solar.
To receive a free estimate from a top solar company in Hambden, you can click the button below.
Solar savings over time in Hambden
| Year | Return on Investment |
|---|---|
| 1 years | $-12,847 |
| 3 years | $-10,656 |
| 5 years | $-8,466 |
| 7 years | $-6,275 |
| 9 years | $-4,085 |
| 11 years | $-1,895 |
| 13 years | $296 |
| 15 years | $2,486 |
| 17 years | $4,677 |
| 19 years | $6,867 |
| 21 years | $9,057 |
| 23 years | $11,248 |
| 25 years | $13,438 |
Top Solar Installers in Hambden
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Going with a solar panel installer can make your switch to solar power much easier. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and component replacements.
If you'd like to switch to solar energy but still aren't sure which solar installer to go with, here are our suggestions for providers nearby:
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 Hambden
Factors that Affect Solar Panel Costs in Hambden
The cost of installing a solar system in Hambden can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $2,560 per kilowatt in Hambden. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your energy bills. In addition, extra products, such as solar batteries, can bump up your total well above the Hambden average.
Solar Financing Terms
Many homeowners find the average cost of solar in Hambden to be too steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to higher prices over time because of interest. It's a good idea to factor 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
The remaining major cost factor you should consider is the installer you choose. Given the growing popularity of sustainable energy solutions in Hambden, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $9,933 | 13.2 years |
| 8 kW | $2.61 | $14,623 | $13,531 | 13.0 years |
| 10 kW | $2.56 | $17,920 | $17,272 | 12.7 years |
| 12 kW | $2.51 | $21,074 | $21,157 | 12.5 years |
| 14 kW | $2.46 | $24,084 | $25,185 | 12.2 years |
| 16 kW | $2.41 | $26,952 | $29,356 | 12.0 years |
| 18 kW | $2.36 | $29,676 | $33,670 | 11.7 years |
| 20 kW | $2.30 | $32,256 | $38,128 | 11.5 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely provide good-quality solar panel installation and expertise.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
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 Hambden, OH Solar Cost FAQs
How much does it cost to install solar panels in Hambden?
This is a tough question to answer exactly, because the cost depends on many 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 higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Hambden?
You can't get solar panels for free in Hambden. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $703.84 per year.
How long do solar panels last in Hambden?
Although 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 replace them once you've had 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.