Solar Panel Cost Guide in Hubbard, OH (2024 Update)
- Hubbard Solar Installation Cost: $18,771
- 25-Year Savings: $12,345
- Payback Period: 17.8 Years
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Average Cost of Solar Panels in Hubbard
Let’s have a look at the average cost of solar panels in Hubbard.
Although the national average of solar panels is $2.66 per watt, solar panels in Hubbard generally cost around 3.Using this figure, a typical 7.9-kW system would cost about $18,771 before the 0 federal solar 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 quite a bit based on a few factors, such as how many panels you need, your energy usage and what solar installer you go with.For most homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $13,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a top solar panel company in your area for a custom estimate.
Solar savings over time in Hubbard
| Year | Return on Investment |
|---|---|
| 1 years | $-17,551 |
| 3 years | $-15,111 |
| 5 years | $-12,670 |
| 7 years | $-10,230 |
| 9 years | $-7,789 |
| 11 years | $-5,349 |
| 13 years | $-2,908 |
| 15 years | $-468 |
| 17 years | $1,972 |
| 19 years | $4,413 |
| 21 years | $6,853 |
| 23 years | $9,294 |
| 25 years | $11,734 |
Top Solar Installers in Hubbard
Trying to install solar panels yourself can be a difficult task, which is why hiring a solar installer is a good option for many homeowners. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
See all of the solar companies in Hubbard
Factors that Affect Solar Panel Costs in Hubbard
For many Hubbard homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Hubbard, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Hubbard, one of the most crucial 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 consumption, which you can determine by looking at past energy bills. Your total cost can increase by around $3,410 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you pick also affects the cost. In many cases, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are provided by most installers in Hubbard, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of loans, including the amount of 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can play a part in determining how much it costs. Hubbard’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that provides 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 | $3.55 | $14,895 | $5,276 | 18.5 years |
| 8 kW | $3.48 | $19,478 | $7,416 | 18.1 years |
| 10 kW | $3.41 | $23,870 | $9,748 | 17.8 years |
| 12 kW | $3.34 | $28,071 | $12,270 | 17.4 years |
| 14 kW | $3.27 | $32,081 | $14,984 | 17.0 years |
| 16 kW | $3.21 | $35,900 | $17,888 | 16.7 years |
| 18 kW | $3.14 | $39,529 | $20,983 | 16.3 years |
| 20 kW | $3.07 | $42,966 | $24,270 | 16.0 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on 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:
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
EcoWatch's Hubbard, OH Solar Cost FAQs
What is the average cost of installing solar panels in Hubbard?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly 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 extra solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How will solar panels impact the value of my home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Hubbard is currently $147,687, so you could be looking at a value of about $6,055 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Hubbard is a worthwhile investment.
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 decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.