Solar Panel Cost Guide in Mad River, OH (Nov 2022)

  • Mad River Solar Installation Cost: $13,350
  • 25-Year Savings: $12,324
  • Payback Period: 13.0 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 Mad River

Find out what the average cost of a solar system is in Mad River.

Although the national average of solar panels is $2.66 per watt, solar panels in Mad River generally cost around $3. Using this figure, a typical 7.5 would cost about $13,350 before the 30% federal solar tax credit is applied.

Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy use, the type of solar panels you want, your solar contractor and more. Despite the significant upfront cost, the average Mad River homeowner can save about $13,000 on their electricity bills over 20 years, which is one of the advantages of solar.

To receive a free estimate from a pre-vetted solar installer in Mad River, you can click the button below.

Solar savings over time in Mad River

Year Return on Investment
1 years $-12,323
3 years $-10,269
5 years $-8,216
7 years $-6,162
9 years $-4,108
11 years $-2,054
13 years $0
15 years $2,054
17 years $4,108
19 years $6,162
21 years $8,216
23 years $10,270
25 years $12,324

Top Solar Installers in Mad River

Many homeowners opt for a solar panel installer since trying to install solar panels by yourself can be a labor-intensive endeavor. Some solar installers, especially local ones, can help you take advantage of incentives in Mad River, optimizing your ROI.

Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:

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 Mad River

Factors that Affect Solar Panel Costs in Mad River

Cost is often one of the most important factors for homeowners considering investing in solar. There are a few primary factors that determine your overall cost in Mad River: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.

Solar Equipment

Size is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Mad River, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Most solar installers in Mad River have solar loans, which reduce the initial cost of installing a solar system. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.

Solar Panel Installation Company

Lastly, the company you get to install your solar system can influence the cost. Mad River's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-efficiency and high-priced products — 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 provides 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 $2.66 $11,182 $9,498 13.5 years
8 kW $2.61 $14,623 $12,951 13.3 years
10 kW $2.56 $17,920 $16,548 13.0 years
12 kW $2.51 $21,074 $20,287 12.7 years
14 kW $2.46 $24,084 $24,170 12.5 years
16 kW $2.41 $26,952 $28,196 12.2 years
18 kW $2.36 $29,676 $32,366 12.0 years
20 kW $2.30 $32,256 $36,679 11.7 years

How to Save on Solar Panels

There are a lot of companies to choose from in Mad River, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:

  • Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Contract: Before you sign a contract with a solar installer, make sure you look it over completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
  • Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
  • Solar Panel Brands: The brand of solar panel you'd like to install plays a role in which company you should choose, since different companies have different panels.

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 Mad River, OH Solar Cost FAQs

How much does it cost to install solar panels in Mad River?

This is a difficult question to answer exactly, because the cost depends on a variety of 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 higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.

Should I lease or buy solar panels in Mad River?

Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property 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.

Is going solar worth it?

Solar panels can be a beneficial investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.

How often do you have to replace solar panels?

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.

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