Solar Panel Cost Guide in Hinckley, OH (2023 Update)
- Hinckley Solar Installation Cost: $13,614
- 25-Year Savings: $13,295
- Payback Period: 12.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hinckley
Find out what the average cost of solar panels are in Hinckley.
Although the national average of solar panels is $2.66 per watt, solar panels in Hinckley generally cost about 2.56. Since a 7.6-kW system is needed to cover the energy needs of a typical home in Hinckley, the average price of going solar will be about $13,619 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of going solar can vary depending on several factors, such as how many panels you need, your energy usage and what installation company you go with. With average savings of about $13,000 on power bills over 20 years, many homeowners in Hinckley find installing solar panels can pay off big.
You can click the button below to get connected with a pre-vetted solar company in Hinckley for a quote for your home.
Solar savings over time in Hinckley
| Year | Return on Investment |
|---|---|
| 1 years | $-12,360 |
| 3 years | $-9,852 |
| 5 years | $-7,345 |
| 7 years | $-4,837 |
| 9 years | $-2,329 |
| 11 years | $178 |
| 13 years | $2,686 |
| 15 years | $5,193 |
| 17 years | $7,701 |
| 19 years | $10,209 |
| 21 years | $12,716 |
| 23 years | $15,224 |
| 25 years | $17,731 |
Top Solar Installers in Hinckley
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Going with a solar panel installer can make switching to solar power much easier. Plus, if you'd like to maximize your investment in solar energy, going with a solar installer can help with that as well. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some nearby:
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 Hinckley
Factors that Affect Solar Panel Costs in Hinckley
The cost of installing a solar system in Hinckley can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most important 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 power your household consumes, the larger your system will likely need to be. You can expect to pay about $2,560 per kilowatt in Hinckley. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Hinckley offer solar loans, which reduce your upfront costs of installing solar. However, the interest on solar loans also adds to your total costs, so it's important to include that in your estimate as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Hinckley, and each can charge different amounts for labor and equipment. Additionally, some companies in Hinckley have more knowledge about local solar incentives and can help you make good use 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 | $2.66 | $11,182 | $10,070 | 13.2 years |
| 8 kW | $2.61 | $14,623 | $13,713 | 12.9 years |
| 10 kW | $2.56 | $17,920 | $17,500 | 12.6 years |
| 12 kW | $2.51 | $21,074 | $21,430 | 12.4 years |
| 14 kW | $2.46 | $24,084 | $25,504 | 12.1 years |
| 16 kW | $2.41 | $26,952 | $29,720 | 11.9 years |
| 18 kW | $2.36 | $29,676 | $34,081 | 11.6 years |
| 20 kW | $2.30 | $32,256 | $38,584 | 11.4 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose considerably impacts your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can check your installer's reputation is by reading reviews.
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Hinckley, OH Solar Cost FAQs
How much does it cost to install solar panels in Hinckley?
This is a tough question to answer precisely, because the cost depends on a few different 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Hinckley?
Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.