Solar Panel Cost Guide in Mulberry, OH (2023 Update)
- Mulberry Solar Installation Cost: $13,207
- 25-Year Savings: $10,981
- Payback Period: 13.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Mulberry
Find out what the average cost of a solar system is in Mulberry.
In Mulberry, solar panels cost about 2.56 per watt on average. Since a 7.4-kW system is needed to cover the energy usage of a typical home in Mulberry, the average price of going solar will be about $13,207 after claiming the federal solar tax credit of 30%.
The true price you pay can be above or below the average in Mulberry based on several factors, such as the kind of solar panels you choose and the solar contractor you hire. For most homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Mulberry see about $12,000 in savings on energy bills over 20 years.
To receive a free estimate from a highly rated solar company in Mulberry, you can click the button below.
Solar savings over time in Mulberry
| Year | Return on Investment |
|---|---|
| 1 years | $-12,240 |
| 3 years | $-10,304 |
| 5 years | $-8,369 |
| 7 years | $-6,434 |
| 9 years | $-4,499 |
| 11 years | $-2,564 |
| 13 years | $-629 |
| 15 years | $1,306 |
| 17 years | $3,241 |
| 19 years | $5,176 |
| 21 years | $7,111 |
| 23 years | $9,046 |
| 25 years | $10,981 |
Top Solar Installers in Mulberry
Although you can install solar panels by yourself, it takes extra energy and handiness. That's one of the reasons most people choose to hire a solar panel installer. The payback period of solar panels will vary depending on factors like your roof configuration and energy usage, but working with a solar company can shorten it. Your provider will be able to help you identify incentives available in your area.
If you'd like to switch to solar energy but still aren't sure which solar system company to go with, here are our recommendations for providers in Mulberry:
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 Mulberry
Factors that Affect Solar Panel Costs in Mulberry
There are several 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
The cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,560. There are several different solar panel brands and the one you choose also affects the cost. Usually, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a popular option because they decrease your upfront costs and let you pay for your system over five to seven years on average. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
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 operating throughout Mulberry, and each can charge different amounts for labor and equipment. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, 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 | $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
There are a lot of companies available in Mulberry, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely provide good-quality solar panel installation and expertise.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before deciding.
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 Mulberry, OH Solar Cost FAQs
How much does it cost to install solar panels in Mulberry?
The average cost of solar panels in Mulberry 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 model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Mulberry is currently $181,760, which means you can expect a value of about $7,452 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Mulberry is a worthwhile investment.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.