Solar Panel Cost Guide in Independence, OH (2023 Update)
- Independence Solar Installation Cost: $14,121
- 25-Year Savings: $15,837
- Payback Period: 11.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Independence
Find out what the average cost of solar panels are in Independence.
The national average cost of solar panels is $2.66 per watt, but in Independence it's 2.56 per watt. To cover the typical energy usage of the average home in Independence, most homeowners require a 7.9-kilowatt system. Using the per-watt figure above, a solar installation costs around $14,121, or $20,193 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of going solar can vary depending on several factors, such as how many panels you need, your energy usage and what company you go with. Many homeowners find going solar is a fruitful investment. The average homeowner in Independence can save around $14,000 on their power bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Independence
| Year | Return on Investment |
|---|---|
| 1 years | $-12,923 |
| 3 years | $-10,526 |
| 5 years | $-8,129 |
| 7 years | $-5,733 |
| 9 years | $-3,336 |
| 11 years | $-940 |
| 13 years | $1,457 |
| 15 years | $3,854 |
| 17 years | $6,250 |
| 19 years | $8,647 |
| 21 years | $11,043 |
| 23 years | $13,440 |
| 25 years | $15,837 |
Top Solar Installers in Independence
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Taking advantage of a solar company can make your switch to solar power much easier. Some solar companies, particularly local ones, can help you better understand incentives in Independence, thereby optimizing your ROI.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in Independence:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Independence
Factors that Affect Solar Panel Costs in Independence
For many Independence homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Independence, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Independence, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can determine by looking at past energy bills. Your overall cost can increase by around $2,560 for each additional kilowatt you need. The kind of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are an affordable route because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. While solar loans make adopting solar energy more accessible for Independence homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you hire to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies in Independence, and each can charge varying amounts for labor and equipment. Additionally, some companies in Independence have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, 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 | $11,636 | 12.3 years |
| 8 kW | $2.61 | $14,623 | $15,802 | 12.0 years |
| 10 kW | $2.56 | $17,920 | $20,111 | 11.8 years |
| 12 kW | $2.51 | $21,074 | $24,563 | 11.5 years |
| 14 kW | $2.46 | $24,084 | $29,158 | 11.3 years |
| 16 kW | $2.41 | $26,952 | $33,897 | 11.1 years |
| 18 kW | $2.36 | $29,676 | $38,780 | 10.8 years |
| 20 kW | $2.30 | $32,256 | $43,805 | 10.6 years |
How to Save on Solar Panels
The solar panel company you go with 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 a few important things you should keep in mind, including:
- Solar Panel Brands: The kind of solar panel you'd like plays a role in which company you should go with, since different companies provide different panels.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Review the contract terms carefully to make sure you understand the total cost, project completion timeline incentives and warranties.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Independence, OH Solar Cost FAQs
How much does it cost to install solar panels in Independence?
This is a difficult 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Independence?
Whether or not solar panels are worth it depends on some different 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 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 cover 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.