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.
The average cost of a solar system in Henry is 3 per watt.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.
The true cost of your system can go higher or lower than the average in Henry based on several factors, such as the model of solar panels you choose and the solar company you hire.For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Henry see about $15,000 in savings on electricity bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
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
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Using a solar panel installer can make converting to solar power much easier. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance in the long run.
If you're on the hunt for a solar company in Henry, the EcoWatch team has compiled a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Henry
Factors that Affect Solar Panel Costs in Henry
Though the average cost of a solar system in Henry is $18,271, your actual cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
When it comes to estimating the cost of a solar system in Henry, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can gauge by looking at past power bills. Your total cost can increase by around $3,410 for each additional kilowatt you need.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 get 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, more efficient panels could save you more over time on your electric bills. In addition, add-on products, such as solar batteries, can bring your total well above the Henry average.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a solid option because they lower your upfront costs and let you pay for your system over five to seven years on average.While solar loans make adopting solar energy more accessible for Henry homeowners, they can also add to 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
The last key cost factor you should keep in mind is the installer you choose. Given the growing popularity of sustainable energy solutions in Henry, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.Larger national companies typically 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 additional services like electric car 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 | $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. Because choosing 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 install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and how long the project will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Henry, OH Solar Cost FAQs
How much does it cost to install 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 real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Henry?
Leasing solar panels can be an attractive choice, because it commonly 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 option if you want to get the most savings.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. 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 often do you have to replace solar panels?
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 higher amount 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.