Solar Panel Cost Guide in Miamisburg, OH (2023 Update)
- Miamisburg Solar Installation Cost: $13,449
- 25-Year Savings: $9,598
- Payback Period: 14.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Miamisburg
Let's take a look at the average cost of solar in Miamisburg.
Although the national average of solar panels is $2.66 per watt, solar panels in Miamisburg generally cost around 2.56. The average Miamisburg homeowner needs a 7.5-kilowatt system, which would cost about $13,458 with the federal tax credit, or $19,245 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Miamisburg homeowner. 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 upfront cost, the average Miamisburg homeowner can save about $12,000 on their electricity bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a vetted solar installer in Miamisburg that can help you get a more accurate cost estimate for your home.
Solar savings over time in Miamisburg
| Year | Return on Investment |
|---|---|
| 1 years | $-12,382 |
| 3 years | $-10,248 |
| 5 years | $-8,113 |
| 7 years | $-5,979 |
| 9 years | $-3,845 |
| 11 years | $-1,710 |
| 13 years | $424 |
| 15 years | $2,559 |
| 17 years | $4,693 |
| 19 years | $6,827 |
| 21 years | $8,962 |
| 23 years | $11,096 |
| 25 years | $13,230 |
Top Solar Installers in Miamisburg
Installing solar panels yourself can be a dangerous project, which is why using a solar installer is a good option for many homeowners. The payback period on a solar system will vary based on factors like your roof configuration and energy needs, but going with a solar installer can shorten that period. Your provider will be able to help you apply for incentives available in your area.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some in Miamisburg:
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 Miamisburg
Factors that Affect Solar Panel Costs in Miamisburg
Although the average cost of a solar system in Miamisburg is $13,458, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the price of solar panels in Miamisburg, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, 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 equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your energy bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Miamisburg average.
Solar Financing Terms
Many homeowners find the average cost of solar in Miamisburg to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest. However, the interest on solar loans also adds to your all-in costs, so it's important to keep that in mind as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you hire to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies in Miamisburg, and each can charge different amounts for labor and equipment. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $7,243 | 15.2 years |
| 8 kW | $2.61 | $14,623 | $9,944 | 14.9 years |
| 10 kW | $2.56 | $17,920 | $12,788 | 14.6 years |
| 12 kW | $2.51 | $21,074 | $15,776 | 14.3 years |
| 14 kW | $2.46 | $24,084 | $18,907 | 14.0 years |
| 16 kW | $2.41 | $26,952 | $22,182 | 13.7 years |
| 18 kW | $2.36 | $29,676 | $25,599 | 13.4 years |
| 20 kW | $2.30 | $32,256 | $29,160 | 13.1 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Miamisburg, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one mark of a quality company.
- 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 the cost.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases offer good-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though 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 make sure you take a look at their list of offerings before deciding.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Miamisburg, OH Solar Cost FAQs
What is the average cost of installing solar panels in Miamisburg?
The average cost of solar panels in Miamisburg 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 stuff such as the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to 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 why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Miamisburg is currently $134,380, which means you can look forward to a value of about $5,510 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Miamisburg is a rewarding investment.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can 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 buy between 20 and 35 panels to account for 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.