Solar Panel Cost Guide in Jerome, OH (2023 Update)
- Jerome Solar Installation Cost: $13,605
- 25-Year Savings: $15,892
- Payback Period: 11.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Jerome
Find out what the average cost of solar panel installation is in Jerome.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Jerome, the typical cost of a solar system is 2.56 per watt. The average solar panel system size in Jerome is around 7.6 kilowatts, meaning a cost of about $13,601 for a solar installation, or $19,449 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of going solar can vary depending on multiple factors, such as what size system you need, your energy consumption and what company you go with. But, once you've paid the upfront cost of installation, the ROI for most homeowners is usually rewarding, with a net average savings of about $15,000 over 20 years on utility bills.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Jerome
| Year | Return on Investment |
|---|---|
| 1 years | $-13,507 |
| 3 years | $-13,310 |
| 5 years | $-13,114 |
| 7 years | $-12,917 |
| 9 years | $-12,720 |
| 11 years | $-12,524 |
| 13 years | $-12,327 |
| 15 years | $-12,130 |
| 17 years | $-11,934 |
| 19 years | $-11,737 |
| 21 years | $-11,541 |
| 23 years | $-11,344 |
| 25 years | $-11,147 |
Top Solar Installers in Jerome
When switching to solar energy, many homeowners decide to hire a solar company since handling can be a challenging project. Plus, if you aren't sure what kind of solar panels and equipment you may need, a solar expert can help you figure that out after a site survey and consultation.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
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 Jerome
Factors that Affect Solar Panel Costs in Jerome
Even though the average cost of a solar system in Jerome is $13,601, your actual cost may differ. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation 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 $2,560. The kind of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Furthermore, solar equipment goes beyond 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
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Jerome homeowners choose to finance their solar panel systems to offset upfront costs. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Jerome, you'll have many options to choose from, but each comes at different 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 offers the products, warranties and services you're looking for and also fit into 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 | $12,129 | 12.0 years |
| 8 kW | $2.61 | $14,623 | $16,459 | 11.8 years |
| 10 kW | $2.56 | $17,920 | $20,932 | 11.5 years |
| 12 kW | $2.51 | $21,074 | $25,548 | 11.3 years |
| 14 kW | $2.46 | $24,084 | $30,308 | 11.1 years |
| 16 kW | $2.41 | $26,952 | $35,211 | 10.8 years |
| 18 kW | $2.36 | $29,676 | $40,258 | 10.6 years |
| 20 kW | $2.30 | $32,256 | $45,448 | 10.4 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Jerome, OH Solar Cost FAQs
What is the average cost of installing solar panels in Jerome?
The average cost of solar panels in Jerome is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Jerome?
Solar panels aren't free in Jerome, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Do solar panels increase your property value?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Jerome?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.