Solar Panel Cost Guide in Hinckley, OH (2024 Update)
- Hinckley Solar Installation Cost: $18,134
- 25-Year Savings: $13,295
- Payback Period: 16.8 Years
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Average Cost of Solar Panels in Hinckley
We break down average solar pricing in Hinckley.
The national average cost of solar panels is $2.66 per watt, but in Hinckley it’s 3 per watt.To account for the typical energy needs of the average home in Hinckley, most homeowners require a 7.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $18,134, or $25,932 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Hinckley homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.For many homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $13,000 in savings on energy bills over 20 years.
Click the button below to get connected to a reputable solar installer in Hinckley for a custom estimate.
Solar savings over time in Hinckley
| Year | Return on Investment |
|---|---|
| 1 years | $-16,880 |
| 3 years | $-14,372 |
| 5 years | $-11,865 |
| 7 years | $-9,357 |
| 9 years | $-6,850 |
| 11 years | $-4,342 |
| 13 years | $-1,834 |
| 15 years | $673 |
| 17 years | $3,181 |
| 19 years | $5,688 |
| 21 years | $8,196 |
| 23 years | $10,704 |
| 25 years | $13,211 |
Top Solar Installers in Hinckley
Many homeowners opt for a solar panel company since figuring out how to install solar panels yourself can be time-consuming. Another good thing about going with a top solar installer is that it'll likely provide warranties and free repairs, which help protect your solar system over time.
If you’d like to go solar but still aren’t sure which solar system installer to go with, here are our recommendations for providers nearby:
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
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 Hinckley
Factors that Affect Solar Panel Costs in Hinckley
Even though the average cost of a solar system in Hinckley is $18,134, your actual cost may be above or below the average. 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 important things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Hinckley, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your total cost can increase by about $3,410 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Hinckley, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited 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
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Hinckley homeowners choose to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also adds to your total costs, so it’s crucial to take that into consideration as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you hire to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies in Hinckley, and each can charge varying amounts for labor and equipment.The company’s size can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $6,357 | 17.5 years |
| 8 kW | $3.48 | $19,478 | $8,858 | 17.2 years |
| 10 kW | $3.41 | $23,870 | $11,550 | 16.8 years |
| 12 kW | $3.34 | $28,071 | $14,433 | 16.5 years |
| 14 kW | $3.27 | $32,081 | $17,507 | 16.2 years |
| 16 kW | $3.21 | $35,900 | $20,772 | 15.8 years |
| 18 kW | $3.14 | $39,529 | $24,227 | 15.5 years |
| 20 kW | $3.07 | $42,966 | $27,874 | 15.2 years |
How to Save on Solar Panels
The solar installer you go with will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, such as:
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what you need to do before your solar system is installed, such as updating or replacing your electrical system or roof.
- Contract: When reading through your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
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
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 Hinckley, OH Solar Cost FAQs
What is the average cost of installing solar panels in Hinckley?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Hinckley?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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 install 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.