Solar Panel Cost Guide in London, OH (Mar 2023)
- London Solar Installation Cost: $13,368
- 25-Year Savings: $15,432
- Payback Period: 11.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in London
Let's have a look at the average cost of solar panels in London.
Although the national average of solar panels is $2.66 per watt, solar panels in London generally cost about 2.56. The average solar panel system size in London is around 7.5 kilowatts, meaning a cost of about $13,368 for a solar installation, or $19,116 before the 30% federal solar tax credit is applied.
The true cost of your system can be higher or lower than the average in London based on a few factors, such as the model of solar panels you choose and the solar installer you hire. With typical savings of about $15,000 on power bills over 20 years, many homeowners in London find installing solar panels has a decent ROI.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in London
| Year | Return on Investment |
|---|---|
| 1 years | $-12,216 |
| 3 years | $-9,912 |
| 5 years | $-7,608 |
| 7 years | $-5,304 |
| 9 years | $-3,000 |
| 11 years | $-696 |
| 13 years | $1,608 |
| 15 years | $3,912 |
| 17 years | $6,216 |
| 19 years | $8,520 |
| 21 years | $10,824 |
| 23 years | $13,128 |
| 25 years | $15,432 |
Top Solar Installers in London
Although it's possible to install solar panels by yourself, it involves extra energy and expertise. Because of that, almost all homeowners choose a solar panel installer. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- 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 London
Factors that Affect Solar Panel Costs in London
While the average cost of a solar system in London is $13,368, your final cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your electric bills. In addition, add-on products, such as solar batteries, can bump up your total well above the London average.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many London homeowners decide to finance their solar panel systems to offset upfront costs. While solar loans make switching to solar energy more accessible for London homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installation company you select will affect your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor. Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $11,992 | 12.1 years |
| 8 kW | $2.61 | $14,623 | $16,277 | 11.8 years |
| 10 kW | $2.56 | $17,920 | $20,704 | 11.6 years |
| 12 kW | $2.51 | $21,074 | $25,275 | 11.4 years |
| 14 kW | $2.46 | $24,084 | $29,989 | 11.1 years |
| 16 kW | $2.41 | $26,952 | $34,847 | 10.9 years |
| 18 kW | $2.36 | $29,676 | $39,848 | 10.7 years |
| 20 kW | $2.30 | $32,256 | $44,992 | 10.4 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose considerably impacts your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer's reputation is by reading reviews.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before making your decision.
- Contract: Look through the contract terms closely to make sure you understand the cost breakdown, project timeline incentives and warranties.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- 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 London, OH Solar Cost FAQs
What is the average cost of installing solar panels in London?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally 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 higher-than-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Are solar panels free in London?
You can't get solar panels for free in London. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in London?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How many solar panels should I get 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 typically produce about 250 to 400 watt-hours per hour, the average household 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.