Solar Panel Cost Guide in Lake Darby, OH (2023 Update)
- Lake Darby Solar Installation Cost: $13,524
- 25-Year Savings: $15,229
- Payback Period: 11.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Lake Darby
Find out what the average cost of installing solar panels is in Lake Darby.
Although the national average of solar panels is $2.66 per watt, solar panels in Lake Darby typically cost around 2.56. To account for the typical energy needs of the average home in Lake Darby, most homeowners require a 7.5-kilowatt system. Using the figure above, a solar installation costs about $13,530, or $19,348 before the federal solar tax credit of 30% is applied.
Keep in mind that the figures above are only estimates based on the average Lake Darby homeowner. The cost 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 large initial cost, the average Lake Darby homeowner can save around $14,000 on their power bills over 20 years, which is one of the positives of solar.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Lake Darby
| Year | Return on Investment |
|---|---|
| 1 years | $-13,428 |
| 3 years | $-13,236 |
| 5 years | $-13,045 |
| 7 years | $-12,853 |
| 9 years | $-12,661 |
| 11 years | $-12,469 |
| 13 years | $-12,278 |
| 15 years | $-12,086 |
| 17 years | $-11,894 |
| 19 years | $-11,703 |
| 21 years | $-11,511 |
| 23 years | $-11,319 |
| 25 years | $-11,128 |
Top Solar Installers in Lake Darby
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Going with an installer can make your switch to solar power much easier. A solar installer can also help save you money in the long run by providing warranties, repairs and component replacements.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some in Lake Darby:
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 Lake Darby
Factors that Affect Solar Panel Costs in Lake Darby
There are a number of factors that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most significant 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 power your household uses, the larger your system will likely need to be. You can expect to spend around $2,560 per kilowatt in Lake Darby. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Lake Darby, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a solid route because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. It's wise 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 how long it'll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you get to install your solar system can play a part in determining how much you pay. Lake Darby's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional 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 | $11,677 | 12.2 years |
| 8 kW | $2.61 | $14,623 | $15,856 | 12.0 years |
| 10 kW | $2.56 | $17,920 | $20,179 | 11.8 years |
| 12 kW | $2.51 | $21,074 | $24,645 | 11.5 years |
| 14 kW | $2.46 | $24,084 | $29,254 | 11.3 years |
| 16 kW | $2.41 | $26,952 | $34,007 | 11.1 years |
| 18 kW | $2.36 | $29,676 | $38,903 | 10.8 years |
| 20 kW | $2.30 | $32,256 | $43,942 | 10.6 years |
How to Save on Solar Panels
The solar panel company you opt for will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, including:
- Reputation: Companies that have been in business for many years 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 quality aftercare and customer support, such as part repairs and replacements.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
- Contract: When looking through your solar company'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 component breaking or if the company goes out of business.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Lake Darby, OH Solar Cost FAQs
What is the average cost of installing solar panels in Lake Darby?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally 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 cost more if you want extra 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 less expensive solar panels.
Should I lease or buy solar panels in Lake Darby?
Leasing solar panels can be an attractive choice, as it often 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Does Lake Darby have a net metering program?
Most states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Lake Darby?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.