Solar Panel Cost Guide in Independence, OH (2024 Update)
- Independence Solar Installation Cost: $18,803
- 25-Year Savings: $15,842
- Payback Period: 15.7 Years
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Average Cost of Solar Panels in Independence
We break down average solar pricing in Independence.
The average cost of a solar panel system in Independence is 3 per watt.To account for the typical energy needs of the average home in Independence, most homeowners require a 7.9-kilowatt system. Using the figure above, a solar installation costs around $18,803, or $26,888 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Independence homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Despite the significant upfront cost, the average Independence homeowner can save about $14,000 on their electricity bills over 20 years, which is one of the advantages of solar.
For a customized quote from a local solar installer 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 | $-17,549 |
3 years | $-15,041 |
5 years | $-12,534 |
7 years | $-10,026 |
9 years | $-7,518 |
11 years | $-5,011 |
13 years | $-2,503 |
15 years | $4 |
17 years | $2,512 |
19 years | $5,020 |
21 years | $7,527 |
23 years | $10,035 |
25 years | $12,542 |
Top Solar Installers in Independence
Installing solar panels on your own can be a challenging task, which is why using a solar installer is a good option for many homeowners. Companies can also have access to a large variety of the best solar panels and help you pick which one will be right for your family.
Working with a licensed solar company can help your solar project go smoothly. 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 Independence
Factors that Affect Solar Panel Costs in Independence
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that determine your overall cost in Independence: 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
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,410.There are a lot of different solar panel brands and the one you pick also changes the cost. In many cases, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Independence homeowners decide to finance their solar panel systems to offset upfront costs.Although solar loans make going solar more accessible for Independence homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can play a role in determining the cost. Independence’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to 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 promotion can bring their pricing down to compete with bigger names.
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 | $7,923 | 16.3 years |
8 kW | $3.48 | $19,478 | $10,947 | 16.0 years |
10 kW | $3.41 | $23,870 | $14,161 | 15.7 years |
12 kW | $3.34 | $28,071 | $17,566 | 15.4 years |
14 kW | $3.27 | $32,081 | $21,162 | 15.1 years |
16 kW | $3.21 | $35,900 | $24,948 | 14.7 years |
18 kW | $3.14 | $39,529 | $28,926 | 14.4 years |
20 kW | $3.07 | $42,966 | $33,095 | 14.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can look into your installer’s reputation is by reading reviews.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: The brand of solar panel you need plays a part in which company you should opt for, since different companies have different panels.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Independence, OH Solar Cost FAQs
How much does it cost to install solar panels in Independence?
This is a hard question to answer precisely, because the cost depends on a few different 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. It will cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Independence?
Leasing solar panels can be an attractive choice, as it typically 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Does Independence have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future energy bills.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires 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 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.