Solar Panel Cost Guide in Meigs, OH (2024 Update)
- Meigs Solar Installation Cost: $17,623
- 25-Year Savings: $21,289
- Payback Period: 12.8 Years
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Average Cost of Solar Panels in Meigs
Find out how much it might cost to install solar panels in Meigs.
The average cost of solar panels in Meigs is 3 per watt.Because a 7.4-kW system is needed to cover the energy consumption of a typical home in Meigs, the average price of going solar will be about $17,623 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average energy use of Meigs homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Despite the large initial cost, the average Meigs homeowner can save around $18,000 on their power bills over 20 years, which is one of the advantages of solar.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Meigs
| Year | Return on Investment |
|---|---|
| 1 years | $-16,291 |
| 3 years | $-13,627 |
| 5 years | $-10,963 |
| 7 years | $-8,299 |
| 9 years | $-5,634 |
| 11 years | $-2,970 |
| 13 years | $-306 |
| 15 years | $2,358 |
| 17 years | $5,022 |
| 19 years | $7,686 |
| 21 years | $10,350 |
| 23 years | $13,015 |
| 25 years | $15,679 |
Top Solar Installers in Meigs
Although it's possible to install solar panels on your own, it requires extra time and expertise. That's why almost all homeowners choose a solar panel installer. Another great thing about choosing a reputable solar installer is that it'll usually provide warranties and free repairs, which help protect your solar system over time.
You can get a free estimate from a local solar installer on the cost of solar panels 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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Meigs
Factors that Affect Solar Panel Costs in Meigs
While the average cost of a solar system in Meigs is $17,623, your final cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,410.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Meigs, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid choice because they lower your upfront costs and allow you to 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 pay a higher down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installation company you pick will impact your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.The company’s size can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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 | $13,158 | 13.3 years |
| 8 kW | $3.48 | $19,478 | $17,926 | 13.0 years |
| 10 kW | $3.41 | $23,870 | $22,885 | 12.8 years |
| 12 kW | $3.34 | $28,071 | $28,034 | 12.5 years |
| 14 kW | $3.27 | $32,081 | $33,375 | 12.3 years |
| 16 kW | $3.21 | $35,900 | $38,907 | 12.0 years |
| 18 kW | $3.14 | $39,529 | $44,630 | 11.7 years |
| 20 kW | $3.07 | $42,966 | $50,543 | 11.5 years |
How to Save on Solar Panels
There are many companies available in Meigs, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Contract: It’s important to read your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Meigs, OH Solar Cost FAQs
How much does it cost to install solar panels in Meigs?
This is a hard question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is a crucial 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 trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is switching to solar power worth it?
Solar panels can be a beneficial investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
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 are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using 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.