Solar Panel Cost Guide in Lancaster, OH (Oct 2022)

  • Lancaster Solar Installation Cost: $13,476
  • 25-Year Savings: $16,790
  • Payback Period: 11.1 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Lancaster

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

The national average cost of solar panels is $2.66 per watt, but in Lancaster it's $3 per watt. The average solar panel system size in Lancaster is around 7.5 kilowatts, meaning a cost of about $13,476 for a solar installation, or $9,972 after the 30% federal solar tax credit is applied.

How much you pay can be above or below the average in Lancaster depending on a few factors, such as the type of solar panels you choose and the solar company you hire. Many homeowners find adopting solar power is a sound investment. The average homeowner in Lancaster can save around $15,000 on their electricity bills over 20 years.

Click the button below to get connected to a vetted solar installer in Lancaster for a custom quote.

Solar savings over time in Lancaster

Year Return on Investment
1 years $-12,265
3 years $-9,844
5 years $-7,423
7 years $-5,001
9 years $-2,580
11 years $-159
13 years $2,262
15 years $4,684
17 years $7,105
19 years $9,526
21 years $11,948
23 years $14,369
25 years $16,790

Top Solar Installers in Lancaster

Many homeowners opt for a solar panel company since installing solar panels yourself can be hard. The payback period on a solar system will vary based on factors like your roof configuration and energy use, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you apply for incentives available in your area.

There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:

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

The Green Panel

★★★★★
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 Lancaster

Factors that Affect Solar Panel Costs in Lancaster

While the average cost of solar panels in Lancaster is $13,476, your final cost may differ. There are many 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 Size

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size. 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 brand of solar panels and equipment you want is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.

Solar Financing Terms

Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many Lancaster homeowners opt to finance their solar panel systems to make paying for solar more affordable. When estimating your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.

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 installation companies in Lancaster, and each can charge different amounts for labor and equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that has the products, warranties and services you're looking for and also is within 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 $12,974 11.6 years
8 kW $2.61 $14,623 $17,586 11.4 years
10 kW $2.56 $17,920 $22,341 11.1 years
12 kW $2.51 $21,074 $27,239 10.9 years
14 kW $2.46 $24,084 $32,281 10.7 years
16 kW $2.41 $26,952 $37,466 10.5 years
18 kW $2.36 $29,676 $42,794 10.2 years
20 kW $2.30 $32,256 $48,266 10.0 years

Solar Incentives in Lancaster

Name Hamilton County - Home Improvement Program
Incentive Amount $50,000
Website Visit here
More Info Click here

Name Local Option - Special Energy Improvement Districts
More Info Click here

Name Energy Conservation for Ohioans (ECO-Link) Program
Website Visit here
More Info Click here

Name Solar Renewable Energy Certificates Program (SRECs)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

Since the brand of solar panels and the installer you choose considerably affects your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:

  • Solar Panel Brands: The brand of solar panel you need plays a part in which company you should choose, since different companies offer different panels.
  • Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely provide good-quality solar panel installation and expertise.
  • Contract: When reading over your solar company's contract, ask for clarification 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.
  • Warranty: If you're worried about the durability of your solar energy system, checking your installer offers a 25-year, all-inclusive warranty can help put you at ease.

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

The Green Panel

★★★★★
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 Lancaster, OH Solar Cost FAQs

What is the average cost of installing solar panels in Lancaster?

This is a tough question to answer exactly, 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. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.

Is it better to lease or buy solar panels in Lancaster?

Leasing solar panels can be an appealing choice, as it typically 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 incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.

Do solar panels increase how much your home is worth?

Solar panels can increase your home value considerably 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 a solar system."

How many solar panels do I need to power my home?

To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.

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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