Solar Panel Cost Guide in Loveland, OH (Dec 2022)

  • Loveland Solar Installation Cost: $13,261
  • 25-Year Savings: $10,928
  • Payback Period: 13.7 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Loveland

We break down average solar pricing in Loveland.

In Loveland, solar panels cost about $3 per watt on average. Since a 7.4-kW system is needed to cover the energy usage of a typical home in Loveland, the average price of going solar will be about $13,261 before claiming the federal solar tax credit of 30%.

The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of making the switch to solar can vary quite a bit based on several factors, such as what size system you need, your energy consumption and what installation company you go with. But, once you've paid the upfront cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $12,000 over 20 years on energy bills.

For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Loveland

Year Return on Investment
1 years $-12,293
3 years $-10,358
5 years $-8,423
7 years $-6,488
9 years $-4,553
11 years $-2,618
13 years $-683
15 years $1,252
17 years $3,187
19 years $5,122
21 years $7,058
23 years $8,993
25 years $10,928

Top Solar Installers in Loveland

Although you can install solar panels on your own, it involves extra time and knowledge. That's why the majority of homeowners choose to go with a solar panel installer. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.

You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some nearby:

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

Tesla Energy

★★★★★
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 Loveland

Factors that Affect Solar Panel Costs in Loveland

There are a number of factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.

Solar Equipment

System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are provided by most installers in Loveland, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. Though solar loans make adopting solar energy more accessible for Loveland homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

Lastly, the company you opt for to install your solar system can affect your pricing. Loveland's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Loveland know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 $8,438 14.2 years
8 kW $2.61 $14,623 $11,537 14.0 years
10 kW $2.56 $17,920 $14,780 13.7 years
12 kW $2.51 $21,074 $18,166 13.4 years
14 kW $2.46 $24,084 $21,695 13.2 years
16 kW $2.41 $26,952 $25,368 12.9 years
18 kW $2.36 $29,676 $29,184 12.6 years
20 kW $2.30 $32,256 $33,144 12.3 years

How to Save on Solar Panels

Since the kind of solar panels and the installation company you choose has an impact on 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:

  • Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
  • Installation Process: When making the switch to solar power, it's essential to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process will go and the project timeline.
  • Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can research your installer's reputation is by reading reviews.

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

Tesla Energy

★★★★★
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 Loveland, OH Solar Cost FAQs

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

The average cost of solar panels in Loveland is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.

Is cost the most important consideration when buying solar panels?

Cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.

How will installing solar panels impact the value of my home?

Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Loveland is currently $262,887, so you can expect a value of about $10,778 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Loveland is a worthwhile investment.

What solar power system size is right for my home?

To figure out what solar panel system size 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 generally 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.

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