Solar Panel Cost Guide in Montpelier, OH (2024 Update)
- Montpelier Solar Installation Cost: $18,185
- 25-Year Savings: $17,197
- Payback Period: 14.7 Years
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Average Cost of Solar Panels in Montpelier
Find out how much it might cost to switch to solar power in Montpelier.
The average cost of solar panels in Montpelier is 3 per watt.Using this figure, a typical 7.6-kW system would cost about $18,185 before the 0 federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you will vary based on the amount of energy your home requires and what company you choose to go with.With average savings of about $15,000 on power bills over 20 years, many homeowners in Montpelier find investing in solar has a decent ROI.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Montpelier
| Year | Return on Investment |
|---|---|
| 1 years | $-16,888 |
| 3 years | $-14,293 |
| 5 years | $-11,699 |
| 7 years | $-9,104 |
| 9 years | $-6,510 |
| 11 years | $-3,915 |
| 13 years | $-1,320 |
| 15 years | $1,274 |
| 17 years | $3,869 |
| 19 years | $6,463 |
| 21 years | $9,058 |
| 23 years | $11,652 |
| 25 years | $14,247 |
Top Solar Installers in Montpelier
Although you can install solar panels by yourself, it requires extra effort and know-how. That's one of the reasons almost all homeowners choose to go with a solar panel installer. Another advantage of going with a solar company is that they can help you optimize your ROI by bringing down your future costs of repairs and replacements due to warranties and helping you learn about local incentives you can take advantage of.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Montpelier
Factors that Affect Solar Panel Costs in Montpelier
There are a number of criteria that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Montpelier, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by around $3,410 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Montpelier, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are an affordable choice because they lower your upfront costs and let you pay for your system over five to seven years on average.However, the interest on solar loans also adds to your all-in costs, so it’s important to include that in your estimate as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you choose to install your solar system can impact how much you pay. Montpelier’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Montpelier know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $9,401 | 15.3 years |
| 8 kW | $3.48 | $19,478 | $12,917 | 15.0 years |
| 10 kW | $3.41 | $23,870 | $16,623 | 14.7 years |
| 12 kW | $3.34 | $28,071 | $20,521 | 14.4 years |
| 14 kW | $3.27 | $32,081 | $24,609 | 14.1 years |
| 16 kW | $3.21 | $35,900 | $28,889 | 13.9 years |
| 18 kW | $3.14 | $39,529 | $33,359 | 13.6 years |
| 20 kW | $3.07 | $42,966 | $38,021 | 13.3 years |
How to Save on Solar Panels
There are numerous companies available in Montpelier, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and how long the project will take.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While 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 peruse their list of options before deciding.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
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 Montpelier, OH Solar Cost FAQs
How much does it cost to install solar panels in Montpelier?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Are solar panels free in Montpelier?
You can’t get solar panels for free in Montpelier. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Does Montpelier have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Montpelier?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose 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.