Solar Panel Cost Guide in Licking, OH (2024 Update)
- Licking Solar Installation Cost: $18,121
- 25-Year Savings: $18,539
- Payback Period: 14.1 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Licking
Let’s have a look at the average cost of solar in Licking.
While the national average of solar panels is $2.66 per watt, solar panels in Licking generally cost around 3.The average Licking homeowner needs a 7.6-kilowatt system, which would cost about $18,121 with the federal tax credit, or $25,913 before the 0 tax credit is applied.
The true cost of your system can be higher or lower than the average in Licking based on a few factors, such as the brand of solar panels you choose and the solar contractor you hire.For many homeowners, the upfront investment in solar is worth paying. On average Licking homeowners see about $16,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a top solar company in Licking that can help you get a more accurate cost estimate for your home.
Solar savings over time in Licking
Year | Return on Investment |
---|---|
1 years | $-16,789 |
3 years | $-14,125 |
5 years | $-11,460 |
7 years | $-8,796 |
9 years | $-6,132 |
11 years | $-3,468 |
13 years | $-804 |
15 years | $1,860 |
17 years | $4,524 |
19 years | $7,188 |
21 years | $9,852 |
23 years | $12,516 |
25 years | $15,180 |
Top Solar Installers in Licking
When making the switch to solar, many homeowners decide to go with a solar installation company since overseeing your solar installation yourself can be a time-consuming project. Solar warranties and repairs are usually included in the cost of installation when you go with a solar contractor as well, which can save you more money after your upfront investment.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Licking
Factors that Affect Solar Panel Costs in Licking
There are many criteria that can determine your solar panel 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
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.There are several different solar panel brands and the one you pick also affects the cost. Generally, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a popular choice because they reduce your upfront costs and allow you to pay for your system over five to seven years on average.Though solar loans make going solar more accessible for Licking homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can play a part in determining the cost. Licking’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that 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 come with an above-average cost. It’s best to do some research and go with the company that has the products, warranties and services you want 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 | $3.55 | $14,895 | $10,510 | 14.7 years |
8 kW | $3.48 | $19,478 | $14,395 | 14.4 years |
10 kW | $3.41 | $23,870 | $18,471 | 14.1 years |
12 kW | $3.34 | $28,071 | $22,738 | 13.8 years |
14 kW | $3.27 | $32,081 | $27,197 | 13.5 years |
16 kW | $3.21 | $35,900 | $31,846 | 13.2 years |
18 kW | $3.14 | $39,529 | $36,686 | 13.0 years |
20 kW | $3.07 | $42,966 | $41,717 | 12.7 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Different companies will offer various brands and models of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Contract: Review the contract terms thoroughly to make sure you understand how much it will cost, project timeline incentives and warranties.
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the best you can get in the business, and offering such a warranty is one mark of a quality company.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
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 Licking, OH Solar Cost FAQs
What is the average cost of installing solar panels in Licking?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Are solar panels free in Licking?
A solar panel system isn’t free in Licking, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can you sell solar power back to the grid in Licking?
The majority of states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much 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 install 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.