Solar Panel Cost Guide in Munson, OH (Mar 2023)
- Munson Solar Installation Cost: $13,942
- 25-Year Savings: $13,438
- Payback Period: 12.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Munson
Let's have a look at the average cost of solar panels in Munson.
Although the national average of solar panels is $2.66 per watt, solar panels in Munson typically cost around 2.56. The average Munson homeowner needs a 7.8-kilowatt system, which would cost about $13,942 with the federal tax credit, or $19,937 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of going solar can vary depending on a few factors, such as what size system you need, your energy consumption and what company you go with. For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Munson see about $13,000 in savings on electricity bills over 20 years.
To get a free estimate from a highly rated solar company in Munson, you can click the button below.
Solar savings over time in Munson
| Year | Return on Investment |
|---|---|
| 1 years | $-12,847 |
| 3 years | $-10,656 |
| 5 years | $-8,466 |
| 7 years | $-6,275 |
| 9 years | $-4,085 |
| 11 years | $-1,895 |
| 13 years | $296 |
| 15 years | $2,486 |
| 17 years | $4,677 |
| 19 years | $6,867 |
| 21 years | $9,057 |
| 23 years | $11,248 |
| 25 years | $13,438 |
Top Solar Installers in Munson
Many homeowners choose to hire a solar panel installer since trying to install solar panels by yourself can be a labor-intensive endeavor. Also, companies with a high reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you're looking for a solar company in Munson, the EcoWatch team has compiled a list of our top suggestions here:
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 Munson
Factors that Affect Solar Panel Costs in Munson
The cost of installing a solar system in Munson can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,560. The type of solar panels and equipment you get is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment is more than just the solar panels themselves. You'll also need to make decisions 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 looking into a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Munson to be too expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in a higher cost over time due to interest. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you pick will impact your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Munson are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, 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 | $9,933 | 13.2 years |
| 8 kW | $2.61 | $14,623 | $13,531 | 13.0 years |
| 10 kW | $2.56 | $17,920 | $17,272 | 12.7 years |
| 12 kW | $2.51 | $21,074 | $21,157 | 12.5 years |
| 14 kW | $2.46 | $24,084 | $25,185 | 12.2 years |
| 16 kW | $2.41 | $26,952 | $29,356 | 12.0 years |
| 18 kW | $2.36 | $29,676 | $33,670 | 11.7 years |
| 20 kW | $2.30 | $32,256 | $38,128 | 11.5 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. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
- Contract: Look through the contract terms thoroughly to make sure you understand the total cost, project completion timeline incentives and warranties.
- Warranty: If you're concerned about the endurance of your solar panel system, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
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 Munson, OH Solar Cost FAQs
What is the average cost of installing solar panels in Munson?
The average cost of solar panels in Munson 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 things such as the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Munson?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of 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 savings from going solar.
Is making the switch to solar worth it?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house 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.