Solar Panel Cost Guide in Henry, OH (2024 Update)
- Henry Solar Installation Cost: $18,271
- 25-Year Savings: $16,993
- Payback Period: 14.9 Years
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Average Cost of Solar Panels in Henry
Here’s how much it might cost to make the switch to solar in Henry.
In Henry, solar panels cost about 3 per watt on average.The average Henry homeowner needs a 7.7-kilowatt system, which would cost about $18,271 with the federal tax credit, or $26,128 before the 0 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 panels you want, your solar contractor and more.Even with the high initial cost, the average Henry homeowner can save around $15,000 on their electricity bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a top solar company in Henry that can help you get a more accurate cost estimate for your home.
Solar savings over time in Henry
| Year | Return on Investment |
|---|---|
| 1 years | $-16,939 |
| 3 years | $-14,275 |
| 5 years | $-11,611 |
| 7 years | $-8,946 |
| 9 years | $-6,282 |
| 11 years | $-3,618 |
| 13 years | $-954 |
| 15 years | $1,710 |
| 17 years | $4,374 |
| 19 years | $7,038 |
| 21 years | $9,702 |
| 23 years | $12,366 |
| 25 years | $15,030 |
Top Solar Installers in Henry
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Going with an installer can make swapping over to solar power much easier. Solar warranties and repairs are usually included in the cost of installation when you opt for a solar company too, which can save you more money after your upfront investment.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
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 Henry
Factors that Affect Solar Panel Costs in Henry
Even though the average cost of a solar system in Henry is $18,271, your final cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,410. There are a lot of different solar panel brands and the one you pick also changes the cost. Usually, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Henry homeowners opt to finance their solar panel systems to make going solar more affordable.Although solar loans make adopting solar energy more accessible for Henry homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Henry is the company you choose to install your solar panel system. Similar to choosing a company to build a deck or pool, for instance, you’ll have many options for solar installers that offer a range of services for different budgets.Additionally, some companies in Henry know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $3.55 | $14,895 | $9,177 | 15.5 years |
| 8 kW | $3.48 | $19,478 | $12,618 | 15.2 years |
| 10 kW | $3.41 | $23,870 | $16,250 | 14.9 years |
| 12 kW | $3.34 | $28,071 | $20,073 | 14.6 years |
| 14 kW | $3.27 | $32,081 | $24,087 | 14.3 years |
| 16 kW | $3.21 | $35,900 | $28,292 | 14.0 years |
| 18 kW | $3.14 | $39,529 | $32,688 | 13.7 years |
| 20 kW | $3.07 | $42,966 | $37,275 | 13.4 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable 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 verify your installer’s reputation is by reading reviews.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
- 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 what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
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 Henry, OH Solar Cost FAQs
What is the average cost of installing solar panels in Henry?
The average cost of solar panels in Henry 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 certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Henry?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $802.41 per year.
How long do solar panels last in Henry?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.