Solar Panel Cost Guide in Marion, OH (2023 Update)
- Marion Solar Installation Cost: $13,798
- 25-Year Savings: $15,441
- Payback Period: 11.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Marion
We break down average solar pricing in Marion.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Marion, the typical cost of a solar system is 2.56 per watt. Because a 7.7-kW system is needed to cover the energy usage of a typical home in Marion, the average price of going solar will be about $13,798 after claiming the federal solar tax credit of 30%.
These figures are only estimates, and the cost of going solar for you may differ based on factors unique to your home and what company you go with. With typical savings of about $14,000 on utility bills over 20 years, many homeowners in Marion find investing in solar can pay off big.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Marion
| Year | Return on Investment |
|---|---|
| 1 years | $-12,629 |
| 3 years | $-10,290 |
| 5 years | $-7,950 |
| 7 years | $-5,611 |
| 9 years | $-3,272 |
| 11 years | $-933 |
| 13 years | $1,406 |
| 15 years | $3,745 |
| 17 years | $6,085 |
| 19 years | $8,424 |
| 21 years | $10,763 |
| 23 years | $13,102 |
| 25 years | $15,441 |
Top Solar Installers in Marion
When making the switch to solar, many homeowners prefer to go with a solar company since overseeing your solar installation yourself can be a challenging project. A solar installer can also help save you money in the long run by offering warranties, repairs and component replacements.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Marion
Factors that Affect Solar Panel Costs in Marion
Although the average cost of a solar system in Marion is $13,798, your final cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The kind of solar panels and equipment you want is another factor that will largely impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
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 Marion homeowners decide to finance their solar panel systems to make paying for solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can affect the cost. Marion's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and go with the company that provides the products, warranties and services you want and also is 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 | $2.66 | $11,182 | $11,609 | 12.3 years |
| 8 kW | $2.61 | $14,623 | $15,765 | 12.0 years |
| 10 kW | $2.56 | $17,920 | $20,064 | 11.8 years |
| 12 kW | $2.51 | $21,074 | $24,507 | 11.6 years |
| 14 kW | $2.46 | $24,084 | $29,094 | 11.3 years |
| 16 kW | $2.41 | $26,952 | $33,823 | 11.1 years |
| 18 kW | $2.36 | $29,676 | $38,696 | 10.9 years |
| 20 kW | $2.30 | $32,256 | $43,713 | 10.6 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:
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: When reading through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Installation Process: When going solar, it's important to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the project timeline.
- Solar Panel Brands: Different companies have different brands and kinds of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Marion, OH Solar Cost FAQs
What is the average cost of installing solar panels in Marion?
The average cost of solar panels in Marion is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Marion?
Leasing solar panels can be an option if you are unable to pay upfront or secure 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.
Do solar panels increase how much your home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Marion is currently $92,655, so you can look forward to a value of about $3,799 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Marion is a fruitful investment.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.