Solar Panel Cost Guide in Mead, OH (2023 Update)
- Mead 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 Mead
We break down average solar pricing in Mead.
The average cost of a solar panel system in Mead is 2.56 per watt. Using this figure, a typical 7.7-kW system would cost about $13,852 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of going solar can vary quite a bit depending on several factors, such as how many panels you need, your energy consumption and what solar installer you go with. For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Mead see about $15,000 in savings on energy bills over 20 years.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Mead
| 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 Mead
Many homeowners choose to hire a solar installer since trying to put up solar panels on your own can be a labor-intensive endeavor. A solar company 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
See all of the solar companies in Mead
Factors that Affect Solar Panel Costs in Mead
The cost of installing a solar system in Mead can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, 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 nearly $2,560. The kind of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid choice because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you hire to handle your switch to solar energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Mead, and each can charge varying amounts for labor and equipment. Additionally, some companies in Mead are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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
There are many companies to choose from in Mead, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of options before making your decision.
- Contract: Before signing a contract with a solar installer, make sure to read it through completely so you understand the terms. Also, ask questions if you're unsure 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.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Mead, OH Solar Cost FAQs
What is the average cost of installing solar panels in Mead?
The average cost of solar panels in Mead 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 things such as the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Mead?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home 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.
Can you sell solar power back to the grid in Mead?
The majority of states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future utility 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?
To figure out what solar panel system size you need, you need to know 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 house 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.