Solar Panel Cost Guide in Henry, OH (2023 Update)
- Henry Solar Installation Cost: $13,716
- 25-Year Savings: $16,993
- Payback Period: 11.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Henry
Find out what the average cost of installing solar panels is in Henry.
Although the national average of solar panels is $2.66 per watt, solar panels in Henry generally cost about 2.56. The average solar panel system size in Henry is around 7.7 kilowatts, meaning a cost of about $13,709 for a solar installation, or $19,604 before the 30% federal solar tax credit is applied.
The true cost of your system can be above or below the average in Henry based on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire. Despite the large upfront cost, the average Henry homeowner can save about $15,000 on their energy bills over 20 years, which is one of the advantages of solar.
To receive a free quote from a vetted solar installer in Henry, you can click the button below.
Solar savings over time in Henry
| Year | Return on Investment |
|---|---|
| 1 years | $-12,384 |
| 3 years | $-9,720 |
| 5 years | $-7,056 |
| 7 years | $-4,392 |
| 9 years | $-1,728 |
| 11 years | $936 |
| 13 years | $3,600 |
| 15 years | $6,264 |
| 17 years | $8,928 |
| 19 years | $11,592 |
| 21 years | $14,256 |
| 23 years | $16,920 |
| 25 years | $19,584 |
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 pain. Going with a solar company can make converting to solar power much easier. Also, companies with a high reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
There are various licensed solar professionals that can take care of your solar installation project. 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 Henry
Factors that Affect Solar Panel Costs in Henry
Though the average cost of a solar system in Henry is $13,709, your final cost may differ. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Henry, where sunlight isn't as abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Henry provide solar loans, which reduce your upfront costs of installing solar panels. However, the interest on solar loans also adds to your all-in costs, so it's important to consider that as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the growing popularity of renewable energy solutions in Henry, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. You may notice 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 | $2.66 | $11,182 | $12,890 | 11.6 years |
| 8 kW | $2.61 | $14,623 | $17,474 | 11.4 years |
| 10 kW | $2.56 | $17,920 | $22,200 | 11.2 years |
| 12 kW | $2.51 | $21,074 | $27,070 | 10.9 years |
| 14 kW | $2.46 | $24,084 | $32,084 | 10.7 years |
| 16 kW | $2.41 | $26,952 | $37,241 | 10.5 years |
| 18 kW | $2.36 | $29,676 | $42,541 | 10.3 years |
| 20 kW | $2.30 | $32,256 | $47,985 | 10.0 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Installation Process: Make sure you're on the same page with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
- Contract: Before you sign a contract with a solar installer, be sure to look it over fully 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 what services you can expect from them.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Henry, OH Solar Cost FAQs
How much does it cost to install solar panels in Henry?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 extra solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase the value of your home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Henry is currently $102,912, which means you can expect a value of about $4,219 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Henry is a fruitful investment.
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 goes down 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.