Solar Panel Cost Guide in Morgan, OH (2023 Update)
- Morgan Solar Installation Cost: $13,315
- 25-Year Savings: $18,714
- Payback Period: 10.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Morgan
See how much it might cost to make the switch to solar in Morgan.
In Morgan, solar panels cost about 2.56 per watt on average. To cover the typical energy needs of the average home in Morgan, most homeowners require a 7.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $13,315, or $19,040 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of installing solar panels can vary depending on several factors, such as what size system you need, your energy consumption and what installation company you go with. Many homeowners find going solar is a fruitful investment. The average homeowner in Morgan can save about $16,000 on their energy bills over 20 years.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Morgan
| Year | Return on Investment |
|---|---|
| 1 years | $-12,033 |
| 3 years | $-9,471 |
| 5 years | $-6,909 |
| 7 years | $-4,346 |
| 9 years | $-1,784 |
| 11 years | $778 |
| 13 years | $3,341 |
| 15 years | $5,903 |
| 17 years | $8,465 |
| 19 years | $11,027 |
| 21 years | $13,590 |
| 23 years | $16,152 |
| 25 years | $18,714 |
Top Solar Installers in Morgan
When making the switch to solar, many homeowners opt to use a solar company since putting up a solar system yourself can be a difficult project. The payback period on a solar system will vary depending on factors like your roof configuration and energy usage, but working with a solar installer can help you reach a break-even point sooner. 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 panel installer to go with, here are our suggestions for providers in Morgan:
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 Morgan
Factors that Affect Solar Panel Costs in Morgan
Even though the average cost of a solar system in Morgan is $13,315, your actual cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $2,560 per kilowatt in Morgan. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Morgan, 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are provided by most installers in Morgan, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar company you choose to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies in Morgan, and each can charge different amounts for labor and equipment. Additionally, some companies in Morgan are more knowledgeable about local solar incentives and can help you make good use 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 end up saving you 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 | $2.66 | $11,182 | $14,665 | 10.8 years |
| 8 kW | $2.61 | $14,623 | $19,841 | 10.6 years |
| 10 kW | $2.56 | $17,920 | $25,159 | 10.4 years |
| 12 kW | $2.51 | $21,074 | $30,621 | 10.2 years |
| 14 kW | $2.46 | $24,084 | $36,226 | 10.0 years |
| 16 kW | $2.41 | $26,952 | $41,975 | 9.8 years |
| 18 kW | $2.36 | $29,676 | $47,867 | 9.6 years |
| 20 kW | $2.30 | $32,256 | $53,902 | 9.4 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:
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Warranty: If you're concerned about the longevity of your solar panel system, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: The type of solar panel you need to install plays a role in which company you should opt for, since different companies have access to different panels.
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 Morgan, OH Solar Cost FAQs
How much does it cost to install solar panels in Morgan?
The average cost of solar panels in Morgan is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Morgan?
You can't get solar panels for free in Morgan. However, you may still be able to afford 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.
How much can I save on power bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Morgan, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home 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.