Solar Panel Cost Guide in Island Creek, OH (2023 Update)
- Island Creek Solar Installation Cost: $13,924
- 25-Year Savings: $17,343
- Payback Period: 11.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Island Creek
Find out what the average cost of solar panel installation is in Island Creek.
While the national average of solar panels is $2.66 per watt, solar panels in Island Creek generally cost about 2.56. To cover the typical energy needs of the average home in Island Creek, most homeowners require a 7.8-kilowatt system. Using the figure above, a solar installation costs around $13,924, or $19,911 before the federal solar tax credit of 30% is applied.
The true price you pay can be higher or lower than the average in Island Creek based on several factors, such as the brand of solar panels you choose and the solar contractor you hire. Many homeowners find adopting solar power is a sound investment. The average homeowner in Island Creek can save around $15,000 on their power bills over 20 years.
To receive a free quote from a highly rated solar company in Island Creek, you can click the button below.
Solar savings over time in Island Creek
| Year | Return on Investment |
|---|---|
| 1 years | $-12,673 |
| 3 years | $-10,172 |
| 5 years | $-7,670 |
| 7 years | $-5,169 |
| 9 years | $-2,668 |
| 11 years | $-166 |
| 13 years | $2,335 |
| 15 years | $4,837 |
| 17 years | $7,338 |
| 19 years | $9,839 |
| 21 years | $12,341 |
| 23 years | $14,842 |
| 25 years | $17,343 |
Top Solar Installers in Island Creek
Although you can install solar panels by yourself, it takes extra energy and expertise. That's one of the reasons the majority of homeowners choose to hire a solar panel installer. Companies can also offer access to quality options of the best solar panels and help you pick which one will be right for your home.
If you're on the hunt for a solar installer in Island Creek, we've compiled a list of our top suggestions here:
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 Island Creek
Factors that Affect Solar Panel Costs in Island Creek
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 Island Creek: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $2,560 per kilowatt in Island Creek. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Island Creek average.
Solar Financing Terms
Most solar companies in Island Creek offer solar loans, which reduce the initial cost of installing solar. While solar loans make going solar more accessible for Island Creek homeowners, they can also increase the total you pay for your system due to interest. 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
Lastly, the company you choose to install your solar system can impact your pricing. Island Creek's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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 | $12,961 | 11.6 years |
| 8 kW | $2.61 | $14,623 | $17,568 | 11.4 years |
| 10 kW | $2.56 | $17,920 | $22,318 | 11.1 years |
| 12 kW | $2.51 | $21,074 | $27,212 | 10.9 years |
| 14 kW | $2.46 | $24,084 | $32,249 | 10.7 years |
| 16 kW | $2.41 | $26,952 | $37,430 | 10.5 years |
| 18 kW | $2.36 | $29,676 | $42,754 | 10.2 years |
| 20 kW | $2.30 | $32,256 | $48,221 | 10.0 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: Before you sign a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can look into your installer's reputation is by reading reviews.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
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 Island Creek, OH Solar Cost FAQs
What is the average cost of installing solar panels in Island Creek?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $12,800 for a 5-kW system and $25,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you go with 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 a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Do solar panels increase your home value?
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 Island Creek is currently $97,247, which means you can look forward to a value of about $3,987 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Island Creek is a rewarding 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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount 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.