Solar Panel Cost Guide in Liverpool, OH (2023 Update)
- Liverpool Solar Installation Cost: $13,614
- 25-Year Savings: $15,464
- Payback Period: 11.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Liverpool
We go over average solar pricing in Liverpool.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Liverpool, the average cost of solar panels is 2.56 per watt. Since a 7.6-kW system is needed to cover the energy consumption of a typical home in Liverpool, the average price of going solar will be about $13,619 after claiming the federal solar tax credit of 30%.
The true cost of your system can be higher or lower than the average in Liverpool depending on a few factors, such as the model of solar panels you choose and the solar contractor you hire. With typical savings of about $15,000 on electricity bills over 20 years, many homeowners in Liverpool find installing solar panels can be quite rewarding.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Liverpool
| Year | Return on Investment |
|---|---|
| 1 years | $-13,517 |
| 3 years | $-13,323 |
| 5 years | $-13,129 |
| 7 years | $-12,935 |
| 9 years | $-12,741 |
| 11 years | $-12,547 |
| 13 years | $-12,354 |
| 15 years | $-12,160 |
| 17 years | $-11,966 |
| 19 years | $-11,772 |
| 21 years | $-11,578 |
| 23 years | $-11,384 |
| 25 years | $-11,190 |
Top Solar Installers in Liverpool
Many homeowners opt for a solar panel company since figuring out how to install solar panels on your own can be a lot of work. Local solar companies can also help you maximize your return on investment by assisting with any local incentives and by providing warranties and repairs.
If you'd like to start using solar energy but still aren't sure which solar installer 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
See all of the solar companies in Liverpool
Factors that Affect Solar Panel Costs in Liverpool
While the average cost of a solar system in Liverpool is $13,619, your actual cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,560. The model of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to consider 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
Many homeowners find the average cost of solar in Liverpool to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you get to install your solar system can impact how much it costs. Liverpool's solar companies all have different labor costs and add varying upcharges to equipment. The company's size sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $11,783 | 12.2 years |
| 8 kW | $2.61 | $14,623 | $15,998 | 11.9 years |
| 10 kW | $2.56 | $17,920 | $20,355 | 11.7 years |
| 12 kW | $2.51 | $21,074 | $24,857 | 11.5 years |
| 14 kW | $2.46 | $24,084 | $29,501 | 11.2 years |
| 16 kW | $2.41 | $26,952 | $34,289 | 11.0 years |
| 18 kW | $2.36 | $29,676 | $39,220 | 10.8 years |
| 20 kW | $2.30 | $32,256 | $44,295 | 10.5 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose greatly influences 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 model of solar panel you want to install plays a part in which company you should opt for, since different companies have access to different panels.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
- Reputation: Well-established companies 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.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Liverpool, OH Solar Cost FAQs
How much does it cost to install solar panels in Liverpool?
This is a tough question to answer exactly, because the cost depends on a variety of 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 be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How will having solar panels impact my home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Liverpool is currently $202,453, so you can expect a value of about $8,301 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Liverpool is a worthwhile investment.
How long do solar panels last in Liverpool?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.