Solar Panel Cost Guide in Lake Darby, OH (Feb 2023)

  • Lake Darby Solar Installation Cost: $13,530
  • 25-Year Savings: $15,223
  • Payback Period: 11.8 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Lake Darby

Find out what the average cost of installing solar panels is in Lake Darby.

The average cost of solar panels in Lake Darby is $3 per watt. The average solar panel system size in Lake Darby is around 7.5 kilowatts, meaning a cost of about $13,530 for a solar installation, or $10,012 after the 30% federal solar tax credit is applied.

The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of going solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what company you go with. But, after you've paid the upfront cost of installation, the savings for most homeowners is usually good, with a net average savings of about $14,000 over 20 years on energy bills.

To see your potential ROI and connect with a local solar company, click the button below.

Solar savings over time in Lake Darby

Year Return on Investment
1 years $-12,379
3 years $-10,079
5 years $-7,779
7 years $-5,479
9 years $-3,179
11 years $-878
13 years $1,422
15 years $3,722
17 years $6,022
19 years $8,322
21 years $10,622
23 years $12,923
25 years $15,223

Top Solar Installers in Lake Darby

Many homeowners choose to use a solar panel installer since figuring out how to install solar panels by yourself can be a lot of work. Companies can also have access to quality options of the best solar panels and help you choose which one will be right for you.

If you're searching for a solar company in Lake Darby, the EcoWatch team has compiled a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

See all of the solar companies in Lake Darby

Factors that Affect Solar Panel Costs in Lake Darby

Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that will push your cost above or below the average in Lake Darby: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.

Solar Equipment

When it comes to estimating the cost of a solar system in Lake Darby, one of the most important 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 usage, which you can gauge by looking at past electricity bills. Your overall cost can increase by about $2,560 for each additional kilowatt you need. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your energy bills. In addition, extra products, such as solar batteries, can bump up your total well above the Lake Darby average.

Solar Financing Terms

Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Lake Darby homeowners decide to finance their solar panel systems to make paying for solar more affordable. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.

Solar Panel Installation Company

The solar installer you opt for to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar panel companies in Lake Darby, and each can charge varying amounts for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — 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 decide on the company that provides 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 $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 company you choose will affect not only your total costs, but also the kinds 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 take into account, including:

  • Solar Panel Brands: Not all solar companies have 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: Though reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
  • Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
  • Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Lake Darby, OH Solar Cost FAQs

How much does it cost to install solar panels in Lake Darby?

The average cost of solar panels in Lake Darby is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.

Are solar panels free in Lake Darby?

You can't get solar panels for free in Lake Darby. 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'd rather own your solar panels, you can finance them with a solar loan.

How will having solar panels impact how much my home is worth?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lake Darby is currently $156,700, which means you could be looking at a value of about $6,425 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Lake Darby is a fruitful investment.

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 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.

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