Solar Panel Cost Guide in Mad River, OH (2024 Update)

  • Mad River Solar Installation Cost: $17,780
  • 25-Year Savings: $12,326
  • Payback Period: 17.3 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Mad River

Here’s how much it might cost to make the switch to solar in Mad River.

While the national average of solar panels is $2.66 per watt, solar panels in Mad River typically cost about 3.Since a 7.4-kW system is needed to cover the energy needs of a typical home in Mad River, the average price of going solar will be about $17,780 after claiming the federal solar tax credit of 0.

Bear in mind that the figures above are only estimates based on the average Mad River homeowner. The cost 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 a solar system is a rewarding investment. The average homeowner in Mad River can save around $13,000 on their energy bills over 20 years.

To see your potential savings and connect with a local solar installer, click the button below.

Solar savings over time in Mad River

Year Return on Investment
1 years $-16,704
3 years $-14,552
5 years $-12,400
7 years $-10,248
9 years $-8,096
11 years $-5,944
13 years $-3,792
15 years $-1,640
17 years $512
19 years $2,664
21 years $4,816
23 years $6,968
25 years $9,120

Top Solar Installers in Mad River

Many homeowners choose to use a solar panel installer since trying to put up solar panels by yourself can be hard. Some solar companies, particularly local ones, can help you take advantage of incentives in Mad River, thereby optimizing your ROI.

You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some in Mad River:

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

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

See all of the solar companies in Mad River

Factors that Affect Solar Panel Costs in Mad River

Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that will push your cost above or below the average in Mad River: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.

Solar Equipment

One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $3,410 per kilowatt in Mad River.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, higher efficiency could save you more in the long run on your power bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Mad River average.

Solar Financing Terms

If paying for a solar system in cash is too expensive, solar loans are a solid option because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also adds to your overall costs, so it’s crucial to include that in your estimate as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.

Solar Panel Installation Company

Lastly, the company you hire to install your solar panel system can affect how much it costs. 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 choose a company that offers the products, warranties and services you want and also fits within 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 $3.55 $14,895 $5,786 18.0 years
8 kW $3.48 $19,478 $8,096 17.7 years
10 kW $3.41 $23,870 $10,598 17.3 years
12 kW $3.34 $28,071 $13,290 17.0 years
14 kW $3.27 $32,081 $16,173 16.6 years
16 kW $3.21 $35,900 $19,248 16.3 years
18 kW $3.14 $39,529 $22,513 15.9 years
20 kW $3.07 $42,966 $25,969 15.6 years

How to Save on Solar Panels

Since the type 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 select the right ones for you. Here are some things to keep in mind to help with your decision:

  • Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
  • Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
  • Installation Process: Make sure you’re aligned with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
  • Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.

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

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Mad River, OH Solar Cost FAQs

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

The average cost of solar panels in Mad River is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.

Are solar panels free in Mad River?

You can’t get solar panels for free in Mad River. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.

Is switching to solar power worth it?

Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.

How often do you have to replace solar panels?

Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use them at a lower efficiency.

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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