Solar Panel Cost Guide in Hocking, OH (2023 Update)
- Hocking Solar Installation Cost: $13,471
- 25-Year Savings: $17,883
- Payback Period: 10.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hocking
Let's take a look at the average cost of solar panels in Hocking.
Although the national average of solar panels is $2.66 per watt, solar panels in Hocking generally cost about 2.56. The average Hocking homeowner needs a 7.5-kilowatt system, which would cost about $13,476 with the federal tax credit, or $19,271 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of making the switch to solar can vary based on several factors, such as how many panels you need, your energy consumption and what company you go with. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $16,000 over 20 years on energy bills.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Hocking
| Year | Return on Investment |
|---|---|
| 1 years | $-12,139 |
| 3 years | $-9,475 |
| 5 years | $-6,811 |
| 7 years | $-4,147 |
| 9 years | $-1,483 |
| 11 years | $1,182 |
| 13 years | $3,846 |
| 15 years | $6,510 |
| 17 years | $9,174 |
| 19 years | $11,838 |
| 21 years | $14,502 |
| 23 years | $17,166 |
| 25 years | $19,831 |
Top Solar Installers in Hocking
When going solar, many homeowners choose to hire a solar installation company since putting up solar panels yourself can be a difficult project. A solar company can also help save you money over time by providing warranties, repairs and system component replacements.
Working with a professional solar installer can make going solar easier. Here are our recommendations:
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 Hocking
Factors that Affect Solar Panel Costs in Hocking
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that affect your total cost in Hocking: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Hocking, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can gauge by looking at past power bills. Your total cost can increase by about $2,560 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Hocking, where sunlight is relatively 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
If paying for a solar system out of pocket is out of reach, solar loans are a solid option because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Hocking, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and find a company that has the products, warranties and services you want and also is within your budget.
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 | $13,843 | 11.2 years |
| 8 kW | $2.61 | $14,623 | $18,744 | 11.0 years |
| 10 kW | $2.56 | $17,920 | $23,788 | 10.7 years |
| 12 kW | $2.51 | $21,074 | $28,976 | 10.5 years |
| 14 kW | $2.46 | $24,084 | $34,307 | 10.3 years |
| 16 kW | $2.41 | $26,952 | $39,782 | 10.1 years |
| 18 kW | $2.36 | $29,676 | $45,399 | 9.9 years |
| 20 kW | $2.30 | $32,256 | $51,161 | 9.7 years |
How to Save on Solar Panels
The solar installer you opt for will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, including:
- Contract: When looking over your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and how long the project will take.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely provide quality solar panel installation and expertise.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Hocking, OH Solar Cost FAQs
How much does it cost to install solar panels in Hocking?
The average cost of solar panels in Hocking is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Hocking?
Leasing solar panels can be an attractive choice, as it commonly 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 way to go if you want to maximize your savings.
How will having solar panels impact how much my home is worth?
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 Hocking is currently $151,524, so you could be looking at a value of about $6,212 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Hocking is a fruitful investment.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.