Solar Panel Cost Guide in Moraine, OH (Mar 2023)
- Moraine Solar Installation Cost: $13,458
- 25-Year Savings: $9,447
- Payback Period: 14.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Moraine
Here's how much it might cost to switch to solar power in Moraine.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Moraine, the typical cost of solar panels is 2.56 per watt. Using this figure, a typical 7.5-kW system would cost about $13,458 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Moraine homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. For many homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $12,000 in savings on energy bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Moraine
| Year | Return on Investment |
|---|---|
| 1 years | $-12,542 |
| 3 years | $-10,709 |
| 5 years | $-8,877 |
| 7 years | $-7,045 |
| 9 years | $-5,212 |
| 11 years | $-3,380 |
| 13 years | $-1,548 |
| 15 years | $285 |
| 17 years | $2,117 |
| 19 years | $3,950 |
| 21 years | $5,782 |
| 23 years | $7,614 |
| 25 years | $9,447 |
Top Solar Installers in Moraine
When switching to solar energy, many homeowners choose to use a solar installer since handling can be a difficult project. Also, companies with a good reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Moraine
Factors that Affect Solar Panel Costs in Moraine
Even though the average cost of a solar system in Moraine is $13,458, your actual cost may be above or below the average. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the price of a solar system in Moraine, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can determine by looking at past power bills. Your total cost can increase by around $2,560 for each additional kilowatt you need. The kind of solar panels and equipment you choose is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
Most solar installers in Moraine have solar loans, which reduce the initial cost of installing a solar system. However, the interest on solar loans also adds to your all-in costs, so it's crucial to include that in your estimate as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The remaining significant cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Moraine, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. The company's size can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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 | $7,129 | 15.3 years |
| 8 kW | $2.61 | $14,623 | $9,792 | 15.0 years |
| 10 kW | $2.56 | $17,920 | $12,598 | 14.7 years |
| 12 kW | $2.51 | $21,074 | $15,548 | 14.4 years |
| 14 kW | $2.46 | $24,084 | $18,641 | 14.1 years |
| 16 kW | $2.41 | $26,952 | $21,877 | 13.8 years |
| 18 kW | $2.36 | $29,676 | $25,257 | 13.5 years |
| 20 kW | $2.30 | $32,256 | $28,780 | 13.2 years |
How to Save on Solar Panels
The solar company you opt for will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, including:
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: Review the contract terms closely to make sure you understand the total cost, project completion timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one mark of a quality company.
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 Moraine, OH Solar Cost FAQs
What is the average cost of installing solar panels in Moraine?
The average cost of solar panels in Moraine 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 things like the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Moraine?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home 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 financial benefits from going solar.
Can you sell solar power back to the grid in Moraine?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
Though 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 how much energy they produce will have decreased significantly after that point. You can 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.