Solar Panel Cost Guide in Lockland, OH (2023 Update)
- Lockland Solar Installation Cost: $13,243
- 25-Year Savings: $10,946
- Payback Period: 13.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Lockland
Let's take a look at the average cost of solar in Lockland.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lockland, the average cost of solar panels is 2.56 per watt. The average solar panel system size in Lockland is around 7.4 kilowatts, meaning a cost of about $13,243 for a solar installation, or $18,937 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Lockland homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find installing solar panels is a solid investment. The average homeowner in Lockland can save about $12,000 on their power bills over 20 years.
Click the button below to get connected to a vetted solar panel company in Lockland for a custom estimate.
Solar savings over time in Lockland
| Year | Return on Investment |
|---|---|
| 1 years | $-12,275 |
| 3 years | $-10,340 |
| 5 years | $-8,405 |
| 7 years | $-6,470 |
| 9 years | $-4,535 |
| 11 years | $-2,600 |
| 13 years | $-665 |
| 15 years | $1,270 |
| 17 years | $3,205 |
| 19 years | $5,140 |
| 21 years | $7,075 |
| 23 years | $9,011 |
| 25 years | $10,946 |
Top Solar Installers in Lockland
When making the switch to solar, many homeowners choose to hire a solar company since overseeing your solar installation yourself can be a difficult project. Plus, if you're unsure what brand of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Lockland
Factors that Affect Solar Panel Costs in Lockland
For many Lockland homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Lockland, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $2,560 per kilowatt in Lockland. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Lockland, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Lockland homeowners decide 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 opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Lockland, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Lockland have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $8,461 | 14.2 years |
| 8 kW | $2.61 | $14,623 | $11,568 | 14.0 years |
| 10 kW | $2.56 | $17,920 | $14,818 | 13.7 years |
| 12 kW | $2.51 | $21,074 | $18,212 | 13.4 years |
| 14 kW | $2.46 | $24,084 | $21,749 | 13.1 years |
| 16 kW | $2.41 | $26,952 | $25,430 | 12.9 years |
| 18 kW | $2.36 | $29,676 | $29,253 | 12.6 years |
| 20 kW | $2.30 | $32,256 | $33,221 | 12.3 years |
How to Save on Solar Panels
The solar company you opt for will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, including:
- Reputation: Solar 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: Look through the contract terms closely to make sure you understand the overall cost, project completion timeline rebates and warranties.
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
- Installation Process: Make sure you're on the same page with the installer with regard to how the installation process will go and what needs to be done before your solar system is installed, such as repairing your electrical system or roof.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Lockland, OH Solar Cost FAQs
How much does it cost to install solar panels in Lockland?
This is a difficult 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Lockland?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Does Lockland have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future power bills.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires 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.