Solar Panel Cost Guide in Mount Carmel, OH (2023 Update)
- Mount Carmel Solar Installation Cost: $13,202
- 25-Year Savings: $10,987
- Payback Period: 13.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Mount Carmel
Find out what the average cost of solar panel installation is in Mount Carmel.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Mount Carmel, the typical cost of solar panels is 2.56 per watt. The average solar panel system size in Mount Carmel is around 7.4 kilowatts, meaning a cost of about $13,207 for a solar installation, or $18,886 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Mount Carmel homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find going solar is a rewarding investment. The average homeowner in Mount Carmel can save about $12,000 on their power bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Mount Carmel for a quote for your home.
Solar savings over time in Mount Carmel
| Year | Return on Investment |
|---|---|
| 1 years | $-13,121 |
| 3 years | $-12,960 |
| 5 years | $-12,798 |
| 7 years | $-12,637 |
| 9 years | $-12,476 |
| 11 years | $-12,315 |
| 13 years | $-12,153 |
| 15 years | $-11,992 |
| 17 years | $-11,831 |
| 19 years | $-11,670 |
| 21 years | $-11,508 |
| 23 years | $-11,347 |
| 25 years | $-11,186 |
Top Solar Installers in Mount Carmel
Trying to put up solar panels by yourself can be a challenging task, which is why hiring a solar installer is a good option for many homeowners. Also, companies with a high reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
Working with a vetted 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
See all of the solar companies in Mount Carmel
Factors that Affect Solar Panel Costs in Mount Carmel
There are a number of criteria that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the price of solar panels in Mount Carmel, 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 consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by around $2,560 for each additional kilowatt you need. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 will be looking at 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 Mount Carmel offer solar loans, which reduce your upfront costs of installing a solar system. However, the interest on solar loans also increases your overall costs, so it's vital to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Mount Carmel is the company you hire to install your PV system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that offer a range of services at different costs. Additionally, some companies in Mount Carmel have more knowledge about local solar incentives and can help you learn about 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 help you save 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 | $8,518 | 14.2 years |
| 8 kW | $2.61 | $14,623 | $11,644 | 13.9 years |
| 10 kW | $2.56 | $17,920 | $14,914 | 13.6 years |
| 12 kW | $2.51 | $21,074 | $18,326 | 13.4 years |
| 14 kW | $2.46 | $24,084 | $21,883 | 13.1 years |
| 16 kW | $2.41 | $26,952 | $25,582 | 12.8 years |
| 18 kW | $2.36 | $29,676 | $29,425 | 12.6 years |
| 20 kW | $2.30 | $32,256 | $33,411 | 12.3 years |
How to Save on Solar Panels
Since the type of solar panels and the company 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 tips to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can check your installer's reputation is by reading reviews.
- Solar Panel Brands: Different companies will carry various brands and models of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
- Contract: Review the contract terms carefully to make sure you understand the overall cost, project timeline rebates and warranties.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Mount Carmel, OH Solar Cost FAQs
What is the average cost of installing solar panels in Mount Carmel?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $12,800 for a 5-kW system and $25,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Mount Carmel?
Leasing solar panels can be an option if you can't afford to pay upfront or secure 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 financial benefits from going solar.
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 Mount Carmel is currently $221,377, so you can expect a value of about $9,076 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Mount Carmel is a worthwhile investment.
How long do solar panels last in Mount Carmel?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use 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.