Solar Panel Cost Guide in Knox, OH (2024 Update)
- Knox Solar Installation Cost: $18,548
- 25-Year Savings: $16,495
- Payback Period: 15.2 Years
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Average Cost of Solar Panels in Knox
We go over average solar pricing in Knox.
In Knox, solar panels cost about 3 per watt on average.Because a 7.8-kW system is needed to cover the energy consumption of a typical home in Knox, the average price of going solar will be about $18,548 after claiming the federal solar tax credit of 0.
These figures are only estimates, and the cost of going solar for you will look different based on your specific situation and what company you go with.Despite the high upfront cost, the average Knox homeowner can save about $15,000 on their power bills over 20 years, which is one of the positives of solar.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Knox
| Year | Return on Investment |
|---|---|
| 1 years | $-17,216 |
| 3 years | $-14,552 |
| 5 years | $-11,888 |
| 7 years | $-9,224 |
| 9 years | $-6,560 |
| 11 years | $-3,896 |
| 13 years | $-1,232 |
| 15 years | $1,432 |
| 17 years | $4,096 |
| 19 years | $6,760 |
| 21 years | $9,424 |
| 23 years | $12,088 |
| 25 years | $14,752 |
Top Solar Installers in Knox
When making the switch to solar, many homeowners decide to use a solar installation company since putting up a solar system yourself can be a time-consuming project. Companies can also provide access to various kinds of the best solar panels and help you decide which one will be best for your home.
If you’d like to go solar but still aren’t sure which solar system installer to go with, here are our recommendations for providers in Knox:
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 Knox
Factors that Affect Solar Panel Costs in Knox
There are many criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the cost of solar panels in Knox, 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 gauge by looking at past electricity bills. Your total cost can increase by around $3,410 for each additional kilowatt you need.The kind 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, higher efficiency could save you more over time on your energy bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Knox average.
Solar Financing Terms
Many homeowners find the average cost of solar in Knox to be too steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in paying more over time because of interest.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The remaining significant cost factor you should keep in mind is the installer you choose. Given the growing popularity of renewable energy solutions in Knox, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $8,594 | 15.9 years |
| 8 kW | $3.48 | $19,478 | $11,840 | 15.5 years |
| 10 kW | $3.41 | $23,870 | $15,278 | 15.2 years |
| 12 kW | $3.34 | $28,071 | $18,906 | 14.9 years |
| 14 kW | $3.27 | $32,081 | $22,726 | 14.6 years |
| 16 kW | $3.21 | $35,900 | $26,736 | 14.3 years |
| 18 kW | $3.14 | $39,529 | $30,938 | 14.0 years |
| 20 kW | $3.07 | $42,966 | $35,330 | 13.7 years |
How to Save on Solar Panels
There are a lot of 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:
- Solar Panel Brands: Different companies have different brands and types of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Contract: Before signing a contract with a solar installer, make sure you look it over completely so you understand the terms. Also, ask questions if you’re unsure 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: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the completion timeline.
- Reputation: Long-running 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 adequate aftercare and customer service, such as part repairs and replacements.
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 Knox, OH Solar Cost FAQs
What is the average cost of installing solar panels in Knox?
This is a hard question to answer exactly, 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 other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Knox?
You can’t get solar panels for free in Knox. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Knox?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future power bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a 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 buy between 20 and 35 panels to account for 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.