Solar Panel Cost Guide in Montville, OH (2023 Update)
- Montville Solar Installation Cost: $13,619
- 25-Year Savings: $16,462
- Payback Period: 11.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Montville
We break down average solar pricing in Montville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Montville, the typical cost of solar panels is 2.56 per watt. Using this figure, a typical 7.6-kW system would cost about $13,619 before the 30% federal solar tax credit 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 choose, your solar contractor and more. But, after you've paid the upfront cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $15,000 over 20 years on energy bills.
To get a free estimate from a pre-vetted solar installer in Montville, you can click the button below.
Solar savings over time in Montville
| Year | Return on Investment |
|---|---|
| 1 years | $-12,416 |
| 3 years | $-10,009 |
| 5 years | $-7,603 |
| 7 years | $-5,196 |
| 9 years | $-2,790 |
| 11 years | $-383 |
| 13 years | $2,023 |
| 15 years | $4,430 |
| 17 years | $6,836 |
| 19 years | $9,243 |
| 21 years | $11,649 |
| 23 years | $14,056 |
| 25 years | $16,462 |
Top Solar Installers in Montville
When going solar, many homeowners prefer to hire a solar company since overseeing your solar installation yourself can be a challenging project. The payback period of solar panels will vary depending on factors like your location and energy usage, but going with a solar installer can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
If you'd like to switch to solar energy but still aren't certain which solar system company to go with, here are our suggestions for providers nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Montville
Factors that Affect Solar Panel Costs in Montville
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in Montville: solar equipment and system size, financing options and the solar installation company you choose. We'll cover 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 significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,560. The brand and kind of equipment you get for your solar system can raise or lower 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 a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid option because they reduce your upfront costs and let you pay for your system over five to seven years on average. Even though solar loans make switching to solar energy more accessible for Montville homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you choose will affect your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that offers the products, warranties and services you're looking for and also fit into your budget.
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 | $12,576 | 11.8 years |
| 8 kW | $2.61 | $14,623 | $17,055 | 11.5 years |
| 10 kW | $2.56 | $17,920 | $21,677 | 11.3 years |
| 12 kW | $2.51 | $21,074 | $26,442 | 11.1 years |
| 14 kW | $2.46 | $24,084 | $31,351 | 10.9 years |
| 16 kW | $2.41 | $26,952 | $36,403 | 10.6 years |
| 18 kW | $2.36 | $29,676 | $41,598 | 10.4 years |
| 20 kW | $2.30 | $32,256 | $46,937 | 10.2 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely provide high-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of options before making your decision.
- Contract: Though reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Montville, OH Solar Cost FAQs
What is the average cost of installing solar panels in Montville?
The average cost of solar panels in Montville is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Montville?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property 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 installing solar panels impact my home value?
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 Montville is currently $203,445, which means you can look forward to a value of about $8,341 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Montville is a fruitful investment.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.