Solar Panel Cost Guide in Mount Carmel, OH (2024 Update)
- Mount Carmel Solar Installation Cost: $17,585
- 25-Year Savings: $10,987
- Payback Period: 18.2 Years
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Average Cost of Solar Panels in Mount Carmel
Let’s have a look at the average cost of solar panels in Mount Carmel.
Although the national average of solar panels is $2.66 per watt, solar panels in Mount Carmel typically cost about 3.The average Mount Carmel homeowner needs a 7.4-kilowatt system, which would cost about $17,585 with the federal tax credit, or $25,147 before the 0 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 you, like your household energy use and solar contractor.Many homeowners find installing solar panels is a solid investment. The average homeowner in Mount Carmel can save about $12,000 on their electricity bills over 20 years.
Click the button below to get connected to a vetted solar installer in your area for a personalized quote.
Solar savings over time in Mount Carmel
| Year | Return on Investment |
|---|---|
| 1 years | $-16,420 |
| 3 years | $-14,090 |
| 5 years | $-11,760 |
| 7 years | $-9,430 |
| 9 years | $-7,100 |
| 11 years | $-4,770 |
| 13 years | $-2,440 |
| 15 years | $-110 |
| 17 years | $2,220 |
| 19 years | $4,550 |
| 21 years | $6,880 |
| 23 years | $9,210 |
| 25 years | $11,540 |
Top Solar Installers in Mount Carmel
Although it's possible to install solar panels on your own, it involves extra energy and expertise. Because of that, almost all homeowners choose a solar panel installer. Companies can also offer access to a large variety of the best solar panels and help you pick which one will be best for you.
If you're on the hunt for a solar company in Mount Carmel, we've put together a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Mount Carmel
Factors that Affect Solar Panel Costs in Mount Carmel
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Mount Carmel: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $3,410 per kilowatt in Mount Carmel.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Mount Carmel, 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
Many homeowners find the average cost of solar in Mount Carmel to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you hire to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies in Mount Carmel, and each can charge different amounts for labor and equipment.Some companies 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 cost more. It’s best to do some research and go with the company that provides the products, warranties and services you want and also fits within 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 | $3.55 | $14,895 | $4,805 | 18.9 years |
| 8 kW | $3.48 | $19,478 | $6,789 | 18.5 years |
| 10 kW | $3.41 | $23,870 | $8,964 | 18.2 years |
| 12 kW | $3.34 | $28,071 | $11,329 | 17.8 years |
| 14 kW | $3.27 | $32,081 | $13,886 | 17.4 years |
| 16 kW | $3.21 | $35,900 | $16,633 | 17.1 years |
| 18 kW | $3.14 | $39,529 | $19,572 | 16.7 years |
| 20 kW | $3.07 | $42,966 | $22,701 | 16.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Installation Process: Make sure you’re on the same page with the installer with regard to how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: Though reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Mount Carmel?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Do solar panels increase how much your home is worth?
Buying or financing solar panels for 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 $234,292, which means you can look forward to a value of about $9,606 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Mount Carmel is a rewarding investment.
How often do you have to replace solar panels?
Although 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 the amount of energy they produce will have decreased significantly after that point. You can decide 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.