Solar Panel Cost Guide in Moraine, OH (2024 Update)
- Moraine Solar Installation Cost: $17,915
- 25-Year Savings: $9,455
- Payback Period: 19.6 Years
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Average Cost of Solar Panels in Moraine
Find out how much it might cost to install solar panels in Moraine.
In Moraine, solar panels cost about 3 per watt on average.The average solar panel system size in Moraine is around 7.5 kilowatts, meaning a cost of about $17,915 for a solar installation, or $25,618 before the 0 federal solar tax credit is applied.
These figures are just averages, and how much solar costs for you may differ based on the amount of energy your home requires and what company you want to go with.Even with the high upfront cost, the average Moraine homeowner can save about $12,000 on their power bills over 20 years, which is one of the positives of solar.
To receive a free estimate from a vetted solar company in Moraine, you can click the button below.
Solar savings over time in Moraine
| Year | Return on Investment |
|---|---|
| 1 years | $-16,860 |
| 3 years | $-14,750 |
| 5 years | $-12,640 |
| 7 years | $-10,530 |
| 9 years | $-8,420 |
| 11 years | $-6,310 |
| 13 years | $-4,200 |
| 15 years | $-2,090 |
| 17 years | $20 |
| 19 years | $2,130 |
| 21 years | $4,239 |
| 23 years | $6,349 |
| 25 years | $8,459 |
Top Solar Installers in Moraine
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Taking advantage of a solar company can make your switch to solar power much easier. Plus, if you’re not certain what type of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Moraine
Factors that Affect Solar Panel Costs in Moraine
There are a number of criteria that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,410.The brand and kind of equipment you choose 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 more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise 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 Moraine, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can affect how much you pay. Moraine’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $3,416 | 20.3 years |
| 8 kW | $3.48 | $19,478 | $4,937 | 19.9 years |
| 10 kW | $3.41 | $23,870 | $6,648 | 19.6 years |
| 12 kW | $3.34 | $28,071 | $8,551 | 19.2 years |
| 14 kW | $3.27 | $32,081 | $10,644 | 18.8 years |
| 16 kW | $3.21 | $35,900 | $12,929 | 18.4 years |
| 18 kW | $3.14 | $39,529 | $15,404 | 18.0 years |
| 20 kW | $3.07 | $42,966 | $18,070 | 17.6 years |
How to Save on Solar Panels
The solar company you go with will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: The brand of solar panel you need to get plays a part in which company you should choose, since different companies have different panels.
- Contract: It’s important to read through your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Installation Process: Make sure you’re aligned with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
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 Moraine, OH Solar Cost FAQs
What is the average cost of installing solar panels in Moraine?
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. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Moraine?
Solar panels aren’t free in Moraine, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is switching to solar power worth it?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Moraine?
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 amount 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.