Solar Panel Cost Guide in Margaretta, OH (2024 Update)
- Margaretta Solar Installation Cost: $16,595
- 25-Year Savings: $14,648
- Payback Period: 15.3 Years
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Average Cost of Solar Panels in Margaretta
Find out what the average cost of solar panel installation is in Margaretta.
The national average cost of solar panels is $2.66 per watt, but in Margaretta it’s 3 per watt.Since a 7.0-kW system is needed to cover the energy needs of a typical home in Margaretta, the average price of going solar will be about $16,595 after claiming the federal solar tax credit of 0.
These figures are only averages, and the cost of going solar for you may differ based on the amount of energy your home requires and what company you choose to go with.But, after you've paid the initial cost of installation, the payback for most homeowners is typically rewarding, with a net average savings of about $15,000 over 20 years on power bills.
Click the button below to get connected to a top solar company in your area for a custom quote.
Solar savings over time in Margaretta
| Year | Return on Investment |
|---|---|
| 1 years | $-15,375 |
| 3 years | $-12,934 |
| 5 years | $-10,494 |
| 7 years | $-8,053 |
| 9 years | $-5,613 |
| 11 years | $-3,172 |
| 13 years | $-732 |
| 15 years | $1,708 |
| 17 years | $4,149 |
| 19 years | $6,589 |
| 21 years | $9,030 |
| 23 years | $11,470 |
| 25 years | $13,911 |
Top Solar Installers in Margaretta
Many homeowners opt for a solar installer since installing solar panels by yourself can be a lot of work. The expertise that solar companies offer can be useful as well, particularly if you don’t quite know what kind of solar equipment would be right for your home.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Margaretta
Factors that Affect Solar Panel Costs in Margaretta
The cost of installing a solar system in Margaretta can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,410. The brand and type 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 limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Margaretta have solar loans, which reduce your upfront costs of installing solar.When estimating your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Margaretta is the company you choose to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that offer a range of services for different budgets.Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $3.55 | $14,895 | $8,499 | 15.9 years |
| 8 kW | $3.48 | $19,478 | $11,714 | 15.6 years |
| 10 kW | $3.41 | $23,870 | $15,119 | 15.3 years |
| 12 kW | $3.34 | $28,071 | $18,716 | 15.0 years |
| 14 kW | $3.27 | $32,081 | $22,504 | 14.7 years |
| 16 kW | $3.21 | $35,900 | $26,483 | 14.4 years |
| 18 kW | $3.14 | $39,529 | $30,652 | 14.1 years |
| 20 kW | $3.07 | $42,966 | $35,013 | 13.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Installation Process: Make sure you’re aligned 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 updating your electrical system or roof.
- Contract: It’s important to read your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Solar Panel Brands: The brand of solar panel you need plays a part in which installer you should go with, since different companies provide different panels.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Margaretta, OH Solar Cost FAQs
What is the average cost of installing solar panels in Margaretta?
The average cost of solar panels in Margaretta 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 type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is a very important factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Margaretta?
The majority of states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.