Solar Panel Cost Guide in Knox, OH (2023 Update)
- Knox Solar Installation Cost: $13,924
- 25-Year Savings: $16,496
- Payback Period: 11.4 Years
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Updated May 04, 2023
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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 2.56 per watt on average. To cover the typical energy usage of the average home in Knox, most homeowners require a 7.8-kilowatt system. Using the figure above, a solar installation costs about $13,924, or $19,911 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 installing solar panels can vary depending on a few factors, such as what size system you need, your energy usage and what company you go with. With typical savings of about $15,000 on energy bills over 20 years, many homeowners in Knox find investing in solar has a decent ROI.
Click the button below to get connected to a reputable solar installer in Knox for a custom estimate.
Solar savings over time in Knox
| Year | Return on Investment |
|---|---|
| 1 years | $-12,707 |
| 3 years | $-10,273 |
| 5 years | $-7,840 |
| 7 years | $-5,406 |
| 9 years | $-2,973 |
| 11 years | $-539 |
| 13 years | $1,895 |
| 15 years | $4,328 |
| 17 years | $6,762 |
| 19 years | $9,195 |
| 21 years | $11,629 |
| 23 years | $14,063 |
| 25 years | $16,496 |
Top Solar Installers in Knox
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Hiring an installer can make switching to solar power much easier. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you'd like to go solar but still aren't certain which solar company to go with, here are our suggestions for providers near you:
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 Knox
Factors that Affect Solar Panel Costs in Knox
The cost of installing a solar system in Knox can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. There are a lot of different solar panel brands and the one you pick also affects the cost. In many cases, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Knox provide solar loans, which reduce the initial cost of installing solar. However, the interest on solar loans also adds to your total costs, so it's crucial to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can influence your pricing. Knox's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Knox have more knowledge about local solar incentives and can help you make good use of 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 | $12,307 | 11.9 years |
| 8 kW | $2.61 | $14,623 | $16,696 | 11.7 years |
| 10 kW | $2.56 | $17,920 | $21,228 | 11.4 years |
| 12 kW | $2.51 | $21,074 | $25,904 | 11.2 years |
| 14 kW | $2.46 | $24,084 | $30,723 | 11.0 years |
| 16 kW | $2.41 | $26,952 | $35,685 | 10.8 years |
| 18 kW | $2.36 | $29,676 | $40,791 | 10.5 years |
| 20 kW | $2.30 | $32,256 | $46,040 | 10.3 years |
How to Save on Solar Panels
The solar panel company you opt for will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Installation Process: Make sure you're aligned with the installer with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: When reading through your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
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 Knox, OH Solar Cost FAQs
What is the average cost of installing solar panels in Knox?
This is a hard question to answer precisely, because the cost depends on many 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you want 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 without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will having solar panels impact how much my home is worth?
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 Knox is currently $92,435, so you could be looking at a value of about $3,790 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Knox is a worthwhile investment.
How often do you have to replace solar panels?
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 how much energy they produce will have decreased significantly after that point. You can opt to replace them after having 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.