Solar Panel Cost Guide in Martins Ferry, OH (2023 Update)
- Martins Ferry Solar Installation Cost: $13,853
- 25-Year Savings: $16,413
- Payback Period: 11.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Martins Ferry
Find out what the average cost of a solar system is in Martins Ferry.
Although the national average of solar panels is $2.66 per watt, solar panels in Martins Ferry typically cost about 2.56. To account for the typical energy needs of the average home in Martins Ferry, most homeowners require a 7.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $13,852, or $19,808 before the federal solar tax credit of 30% is applied.
These figures are just averages, and your own solar costs will most likely look different based on factors unique to your home and what company you want to go with. For most homeowners, the upfront cost of solar is worth paying. On average Martins Ferry homeowners see about $15,000 in savings on energy bills over 20 years.
To receive a free quote from a top solar installer in Martins Ferry, you can click the button below.
Solar savings over time in Martins Ferry
| Year | Return on Investment |
|---|---|
| 1 years | $-13,752 |
| 3 years | $-13,551 |
| 5 years | $-13,349 |
| 7 years | $-13,147 |
| 9 years | $-12,945 |
| 11 years | $-12,744 |
| 13 years | $-12,542 |
| 15 years | $-12,340 |
| 17 years | $-12,138 |
| 19 years | $-11,936 |
| 21 years | $-11,735 |
| 23 years | $-11,533 |
| 25 years | $-11,331 |
Top Solar Installers in Martins Ferry
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Going with a solar panel installer can make your switch to solar power much easier. The expertise that solar companies offer can be invaluable as well, especially if you aren't sure what kind of solar equipment you need.
If you're on the hunt for a solar installer in Martins Ferry, the EcoWatch team has put together a list of our top suggestions here:
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 Martins Ferry
Factors that Affect Solar Panel Costs in Martins Ferry
For many Martins Ferry homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Martins Ferry, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar system in Martins Ferry, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can determine by looking at past electricity bills. Your overall cost can increase by about $2,560 for each additional kilowatt you need. The kind of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment is more than 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 falls within your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Martins Ferry homeowners opt to finance their solar panel systems to make going solar more affordable. Although solar loans make adopting solar energy more accessible for Martins Ferry homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can influence the cost. Martins Ferry's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell products with high efficiency and therefore a higher price point — 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 offers 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 | $12,308 | 11.9 years |
| 8 kW | $2.61 | $14,623 | $16,697 | 11.7 years |
| 10 kW | $2.56 | $17,920 | $21,230 | 11.4 years |
| 12 kW | $2.51 | $21,074 | $25,906 | 11.2 years |
| 14 kW | $2.46 | $24,084 | $30,726 | 11.0 years |
| 16 kW | $2.41 | $26,952 | $35,689 | 10.8 years |
| 18 kW | $2.36 | $29,676 | $40,795 | 10.5 years |
| 20 kW | $2.30 | $32,256 | $46,044 | 10.3 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose significantly affects your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: The brand of solar panel you'd like to get plays a part in which installer you should go with, since different companies offer different panels.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely provide good-quality solar panel installation and expertise.
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Martins Ferry, OH Solar Cost FAQs
How much does it cost to install solar panels in Martins Ferry?
This is a tough question to answer precisely, because the cost depends on many 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost when buying solar panels?
The upfront cost is a key 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 consider are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.