Solar Panel Cost Guide in Mingo Junction, OH (2023 Update)
- Mingo Junction Solar Installation Cost: $13,925
- 25-Year Savings: $14,165
- Payback Period: 12.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Mingo Junction
Find out what the average cost of a solar system is in Mingo Junction.
Although the national average of solar panels is $2.66 per watt, solar panels in Mingo Junction generally cost around 2.56. Because a 7.8-kW system is needed to cover the energy costs of a typical home in Mingo Junction, the average price of going solar will be about $13,924 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average Mingo Junction homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Mingo Junction see about $14,000 in savings on utility bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Mingo Junction
| Year | Return on Investment |
|---|---|
| 1 years | $-13,831 |
| 3 years | $-13,644 |
| 5 years | $-13,456 |
| 7 years | $-13,269 |
| 9 years | $-13,082 |
| 11 years | $-12,895 |
| 13 years | $-12,707 |
| 15 years | $-12,520 |
| 17 years | $-12,333 |
| 19 years | $-12,146 |
| 21 years | $-11,958 |
| 23 years | $-11,771 |
| 25 years | $-11,584 |
Top Solar Installers in Mingo Junction
Trying to install solar panels by yourself can be a difficult task, which is why getting a solar installation company is a good option for many homeowners. The expertise that solar companies provide can be helpful as well, especially if you aren't sure what kind of solar equipment would be right for your home.
There are several licensed solar professionals that can help you install your solar panels. 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 Mingo Junction
Factors that Affect Solar Panel Costs in Mingo Junction
For many Mingo Junction homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Mingo Junction, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar panel 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. There are a lot of different solar panel brands and the one you pick also changes the cost. In general, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Mingo Junction to be too steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest. When estimating your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Mingo Junction is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for example, there's no shortage of solar installers that offer a range of services at different costs. The size of the company sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing 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 names.
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 | $10,507 | 12.9 years |
| 8 kW | $2.61 | $14,623 | $14,296 | 12.6 years |
| 10 kW | $2.56 | $17,920 | $18,229 | 12.4 years |
| 12 kW | $2.51 | $21,074 | $22,305 | 12.1 years |
| 14 kW | $2.46 | $24,084 | $26,524 | 11.9 years |
| 16 kW | $2.41 | $26,952 | $30,887 | 11.6 years |
| 18 kW | $2.36 | $29,676 | $35,393 | 11.4 years |
| 20 kW | $2.30 | $32,256 | $40,042 | 11.2 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Contract: Review the contract terms thoroughly to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Mingo Junction, OH Solar Cost FAQs
How much does it cost to install solar panels in Mingo Junction?
The average cost of solar panels in Mingo Junction 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 like the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Mingo Junction?
Leasing solar panels can be an option if you can't afford to pay upfront or secure 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 financial benefits from going solar.
Is it worth going solar in Mingo Junction?
Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs 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 install 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.