Solar Panel Cost Guide in Hamilton, OH (2024 Update)
- Hamilton Solar Installation Cost: $17,747
- 25-Year Savings: $17,596
- Payback Period: 14.3 Years
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Average Cost of Solar Panels in Hamilton
We go over average solar pricing in Hamilton.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hamilton, the typical cost of solar panels is 3 per watt.To account for the typical energy usage of the average home in Hamilton, most homeowners require a 7.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $17,747, or $25,378 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy consumption, the type of solar system you choose, your solar contractor and more.Even with the significant initial cost, the average Hamilton homeowner can save about $16,000 on their energy bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a vetted solar installer in Hamilton for a custom estimate.
Solar savings over time in Hamilton
| Year | Return on Investment |
|---|---|
| 1 years | $-16,489 |
| 3 years | $-13,973 |
| 5 years | $-11,458 |
| 7 years | $-8,942 |
| 9 years | $-6,426 |
| 11 years | $-3,910 |
| 13 years | $-1,394 |
| 15 years | $1,121 |
| 17 years | $3,637 |
| 19 years | $6,153 |
| 21 years | $8,669 |
| 23 years | $11,185 |
| 25 years | $13,700 |
Top Solar Installers in Hamilton
Although you can install solar panels yourself, it involves extra time and knowledge. That's why almost all homeowners choose to go with a solar panel installer. Another good thing about choosing a reputable solar installer is that it'll provide warranties and free repairs, which help protect your solar investment.
If you're on the hunt for a solar company in Hamilton, the EcoWatch team has organized a list of our top suggestions here:
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- 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 Hamilton
Factors that Affect Solar Panel Costs in Hamilton
For many Hamilton homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Hamilton, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant 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 energy your household consumes, the larger your system will likely need to be. You can expect to pay about $3,410 per kilowatt in Hamilton.The type of 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. However, higher efficiency could save you more over time on your power bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Hamilton average.
Solar Financing Terms
Most solar companies in Hamilton have solar loans, which reduce the initial cost of installing a solar system.It’s wise to add 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
Finally, the company you hire to install your solar panel system can influence how much it costs. Hamilton’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to 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 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 | $3.55 | $14,895 | $10,057 | 14.9 years |
| 8 kW | $3.48 | $19,478 | $13,792 | 14.6 years |
| 10 kW | $3.41 | $23,870 | $17,717 | 14.3 years |
| 12 kW | $3.34 | $28,071 | $21,833 | 14.1 years |
| 14 kW | $3.27 | $32,081 | $26,141 | 13.8 years |
| 16 kW | $3.21 | $35,900 | $30,639 | 13.5 years |
| 18 kW | $3.14 | $39,529 | $35,328 | 13.2 years |
| 20 kW | $3.07 | $42,966 | $40,208 | 12.9 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can research your installer’s reputation is by reading reviews.
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Hamilton, OH Solar Cost FAQs
What is the average cost of installing solar panels in Hamilton?
The average cost of solar panels in Hamilton is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to consider when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your home value?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can 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 install between 20 and 35 panels to account for 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.