Solar Panel Cost Guide in Montpelier, OH (Mar 2023)
- Montpelier Solar Installation Cost: $13,655
- 25-Year Savings: $17,195
- Payback Period: 11.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Montpelier
Let's have a look at the average cost of solar in Montpelier.
In Montpelier, solar panels cost about 2.56 per watt on average. Using this figure, a typical 7.6-kW system would cost about $13,655 before the 30% federal solar tax credit is applied.
The true cost of your system can be higher or lower than the average in Montpelier depending on a variety of factors, such as the type of solar panels you choose and the solar contractor you hire. But, after you've paid the upfront cost of installation, the ROI for most homeowners is usually rewarding, with a net average savings of about $15,000 over 20 years on electricity bills.
Click the button below to get connected to a highly rated solar installer in Montpelier for a customized estimate.
Solar savings over time in Montpelier
| Year | Return on Investment |
|---|---|
| 1 years | $-12,421 |
| 3 years | $-9,953 |
| 5 years | $-7,485 |
| 7 years | $-5,017 |
| 9 years | $-2,549 |
| 11 years | $-81 |
| 13 years | $2,387 |
| 15 years | $4,855 |
| 17 years | $7,323 |
| 19 years | $9,791 |
| 21 years | $12,259 |
| 23 years | $14,727 |
| 25 years | $17,195 |
Top Solar Installers in Montpelier
Many homeowners decide to hire a solar installation company since trying to put up solar panels on your own can be challenging. A solar company can also help save you money in the long run by providing warranties, repairs and system component replacements.
If you're on the hunt for a solar installer in Montpelier, we've compiled a list of our top suggestions here:
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 Montpelier
Factors that Affect Solar Panel Costs in Montpelier
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that will push your cost above or below the average in Montpelier: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,560. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are available from most installers in Montpelier, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Montpelier, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $13,114 | 11.5 years |
| 8 kW | $2.61 | $14,623 | $17,772 | 11.3 years |
| 10 kW | $2.56 | $17,920 | $22,573 | 11.1 years |
| 12 kW | $2.51 | $21,074 | $27,518 | 10.8 years |
| 14 kW | $2.46 | $24,084 | $32,606 | 10.6 years |
| 16 kW | $2.41 | $26,952 | $37,838 | 10.4 years |
| 18 kW | $2.36 | $29,676 | $43,212 | 10.2 years |
| 20 kW | $2.30 | $32,256 | $48,731 | 10.0 years |
How to Save on Solar Panels
There are a large number of companies available in Montpelier, 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:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of options before deciding.
- Contract: Before signing a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established 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 install your solar system. Another way you can verify your installer's reputation is by reading reviews.
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 Montpelier, OH Solar Cost FAQs
How much does it cost to install solar panels in Montpelier?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly 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 other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities 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.
How will installing solar panels impact how much my home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Montpelier is currently $91,600, so you can expect a value of about $3,756 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Montpelier is a rewarding investment.
How long do solar panels last in Montpelier?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.