Solar Panel Cost Guide in Miamisburg, OH (2024 Update)
- Miamisburg Solar Installation Cost: $17,915
- 25-Year Savings: $8,765
- Payback Period: 19.4 Years
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Average Cost of Solar Panels in Miamisburg
Find out what the average cost of solar panel installation is in Miamisburg.
In Miamisburg, solar panels cost about 3 per watt on average.To cover the typical energy usage of the average home in Miamisburg, most homeowners require a 7.5-kilowatt system. Using the figure above, a solar installation costs around $17,915, or $25,618 before the federal solar tax credit of 0 is applied.
The actual price you pay can be above or below the average in Miamisburg based on a variety of factors, such as the model of solar panels you choose and the solar installer you hire.With average savings of about $12,000 on electricity bills over 20 years, many homeowners in Miamisburg find investing in solar has a decent ROI.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Miamisburg
| Year | Return on Investment |
|---|---|
| 1 years | $-16,848 |
| 3 years | $-14,713 |
| 5 years | $-12,579 |
| 7 years | $-10,445 |
| 9 years | $-8,310 |
| 11 years | $-6,176 |
| 13 years | $-4,041 |
| 15 years | $-1,907 |
| 17 years | $227 |
| 19 years | $2,362 |
| 21 years | $4,496 |
| 23 years | $6,631 |
| 25 years | $8,765 |
Top Solar Installers in Miamisburg
Many homeowners choose to hire a solar panel company since installing solar panels on your own can be challenging. Because solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in Miamisburg:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Miamisburg
Factors that Affect Solar Panel Costs in Miamisburg
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Miamisburg: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,410.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your power bills. In addition, extra products, such as solar batteries, can bring your total well above the Miamisburg average.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a popular route because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you choose will affect your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.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 cost more. It’s best to do some research and find a company that offers the products, warranties and services you’re looking for and also fits 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 | $3.55 | $14,895 | $3,530 | 20.2 years |
| 8 kW | $3.48 | $19,478 | $5,089 | 19.8 years |
| 10 kW | $3.41 | $23,870 | $6,838 | 19.4 years |
| 12 kW | $3.34 | $28,071 | $8,779 | 19.0 years |
| 14 kW | $3.27 | $32,081 | $10,910 | 18.7 years |
| 16 kW | $3.21 | $35,900 | $13,233 | 18.3 years |
| 18 kW | $3.14 | $39,529 | $15,746 | 17.9 years |
| 20 kW | $3.07 | $42,966 | $18,450 | 17.5 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 brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Installation Process: When making the switch to solar, it’s necessary to keep an open line of communication with your solar company. Make sure you understand how the installation process works and the project completion timeline.
- Contract: Before signing a contract with a solar installer, be sure to look it over carefully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Miamisburg?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
How much can I save on power bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Miamisburg, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Miamisburg?
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 decide 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.