Solar Panel Cost Guide in Henry, OH (Mar 2023)
- Henry Solar Installation Cost: $13,709
- 25-Year Savings: $17,000
- Payback Period: 11.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Henry
We break down average solar pricing in Henry.
While the national average of solar panels is $2.66 per watt, solar panels in Henry generally cost around 2.56. To account for the typical energy needs of the average home in Henry, most homeowners require a 7.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $13,709, or $19,604 before the federal solar tax credit of 30% is applied.
How much you pay can go higher or lower than the average in Henry based on a variety of factors, such as the type of solar panels you choose and the solar company you hire. For many homeowners, the upfront cost of solar power is worth paying. On average homeowners in Henry see about $15,000 in savings on energy bills over 20 years.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Henry
| Year | Return on Investment |
|---|---|
| 1 years | $-12,480 |
| 3 years | $-10,024 |
| 5 years | $-7,567 |
| 7 years | $-5,110 |
| 9 years | $-2,653 |
| 11 years | $-197 |
| 13 years | $2,260 |
| 15 years | $4,717 |
| 17 years | $7,173 |
| 19 years | $9,630 |
| 21 years | $12,087 |
| 23 years | $14,544 |
| 25 years | $17,000 |
Top Solar Installers in Henry
Many homeowners decide to use a solar panel company since trying to put up solar panels on your own can be challenging. Companies can also have access to a large variety of the best solar panels and help you decide which one will be right for you.
If you're looking 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 (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 Henry
Factors that Affect Solar Panel Costs in Henry
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that determine your overall cost in Henry: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,560. There are many different solar panel brands and the one you pick also changes the cost. Generally, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a popular route because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Henry is the company you get to install your solar system. Similar to choosing a company to build a deck or pool, for instance, you'll have no shortage of solar installers that offer a range of services for different budgets. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $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
The solar installer you choose will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, such as:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: When looking through your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
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 Henry, OH Solar Cost FAQs
What is the average cost of installing solar panels in Henry?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly 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 be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I 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 drawback 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.
Can you sell solar power back to the grid in Henry?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future power bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a 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 get 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.