Solar Panel Cost Guide in Miamisburg, OH (2023 Update)
- Miamisburg Solar Installation Cost: $13,458
- 25-Year Savings: $9,589
- Payback Period: 14.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Miamisburg
Find out what the average cost of a solar system is in Miamisburg.
While the national average of solar panels is $2.66 per watt, solar panels in Miamisburg typically cost around 2.56. To cover the typical energy needs of the average home in Miamisburg, most homeowners require a 7.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $13,458, or $19,245 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy use, the type of solar panels you want, your solar contractor and more. But, after you've paid the initial cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $12,000 over 20 years on power bills.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Miamisburg
| Year | Return on Investment |
|---|---|
| 1 years | $-12,536 |
| 3 years | $-10,692 |
| 5 years | $-8,848 |
| 7 years | $-7,005 |
| 9 years | $-5,161 |
| 11 years | $-3,317 |
| 13 years | $-1,473 |
| 15 years | $370 |
| 17 years | $2,214 |
| 19 years | $4,058 |
| 21 years | $5,902 |
| 23 years | $7,746 |
| 25 years | $9,589 |
Top Solar Installers in Miamisburg
Although it's possible to install solar panels on your own, it involves extra labor and knowledge. That's why the majority of homeowners choose to hire a solar panel installer. In addition, if you'd like to maximize your investment in solar, opting for a solar company can help with that too. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.
You can work with a local solar installer to get a free estimate on how much solar panels could cost 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 (coming 2022)
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 Miamisburg
Factors that Affect Solar Panel Costs in Miamisburg
For many Miamisburg homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Miamisburg, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,560. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose 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 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 steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in higher prices over time due to interest. You'll have to consider the long-term cost of financing options, including the amount of 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 interest rate could reduce your costs significantly.
Solar Panel Installation Company
The remaining key cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Miamisburg, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 available in Miamisburg, 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:
- Solar Panel Brands: The kind of solar panel you'd like to install plays a role in which company you should opt for, since different companies have different panels.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can research your installer's reputation is by reading reviews.
- Contract: When looking over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Miamisburg, OH Solar Cost FAQs
How much does it cost to install solar panels in Miamisburg?
This is a tough question to answer precisely, because the cost depends on a variety of 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 cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Miamisburg?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of 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.
How will solar panels impact my property value?
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 exact 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 get between 20 and 35 panels to cover 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.