Solar Panel Cost Guide in Montrose-Ghent, OH (2024 Update)
- Montrose-Ghent Solar Installation Cost: $18,650
- 25-Year Savings: $13,945
- Payback Period: 16.7 Years
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Average Cost of Solar Panels in Montrose-Ghent
Find out what the average cost of a solar system is in Montrose-Ghent.
In Montrose-Ghent, solar panels cost about 3 per watt on average.To account for the typical energy usage of the average home in Montrose-Ghent, most homeowners require a 7.8-kilowatt system. Using the per-watt figure above, a solar installation costs about $18,650, or $26,670 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of making the switch to solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what company you go with.Even with the large initial cost, the average Montrose-Ghent homeowner can save around $14,000 on their power bills over 20 years, which is one of the perks of solar.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Montrose-Ghent
| Year | Return on Investment |
|---|---|
| 1 years | $-17,430 |
| 3 years | $-14,989 |
| 5 years | $-12,549 |
| 7 years | $-10,108 |
| 9 years | $-7,668 |
| 11 years | $-5,227 |
| 13 years | $-2,787 |
| 15 years | $-346 |
| 17 years | $2,094 |
| 19 years | $4,535 |
| 21 years | $6,975 |
| 23 years | $9,416 |
| 25 years | $11,856 |
Top Solar Installers in Montrose-Ghent
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Using a solar panel installer can make swapping over to solar power much easier. Some solar installers, particularly local ones, can help you better understand incentives in Montrose-Ghent, therefore optimizing your ROI.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Montrose-Ghent
Factors that Affect Solar Panel Costs in Montrose-Ghent
The cost of installing a solar system in Montrose-Ghent can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect 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
Most solar companies in Montrose-Ghent offer solar loans, which reduce the initial cost of installing solar.You’ll have to consider the long-term cost of financing options, 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 more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can impact how much it costs. Montrose-Ghent’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 | $3.55 | $14,895 | $6,566 | 17.4 years |
| 8 kW | $3.48 | $19,478 | $9,137 | 17.0 years |
| 10 kW | $3.41 | $23,870 | $11,898 | 16.7 years |
| 12 kW | $3.34 | $28,071 | $14,851 | 16.4 years |
| 14 kW | $3.27 | $32,081 | $17,994 | 16.0 years |
| 16 kW | $3.21 | $35,900 | $21,329 | 15.7 years |
| 18 kW | $3.14 | $39,529 | $24,854 | 15.3 years |
| 20 kW | $3.07 | $42,966 | $28,571 | 15.0 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: The model of solar panel you want to get plays a part in which installer you should choose, since different companies provide different panels.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Contract: Review the contract terms closely to make sure you understand the total cost, project timeline incentives and warranties.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Montrose-Ghent, OH Solar Cost FAQs
How much does it cost to install solar panels in Montrose-Ghent?
This is a difficult 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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Montrose-Ghent?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The drawback 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 tax rebates and credits 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 will installing solar panels impact how much my home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Montrose-Ghent is currently $472,080, which means you can look forward to a value of about $19,355 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Montrose-Ghent is a fruitful investment.
How long do solar panels last in Montrose-Ghent?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.