Solar Panel Cost Guide in Muskingum, OH (2023 Update)
- Muskingum Solar Installation Cost: $13,637
- 25-Year Savings: $20,414
- Payback Period: 10.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Muskingum
Let's have a look at the average cost of solar panels in Muskingum.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Muskingum, the typical cost of a solar system is 2.56 per watt. Using this figure, a typical 7.6-kW system would cost about $13,637 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of going solar can vary depending on several factors, such as what size system you need, your energy usage and what installation company you go with. For many homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Muskingum see about $17,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a highly rated solar panel company in Muskingum for a customized quote.
Solar savings over time in Muskingum
| Year | Return on Investment |
|---|---|
| 1 years | $-12,275 |
| 3 years | $-9,551 |
| 5 years | $-6,827 |
| 7 years | $-4,103 |
| 9 years | $-1,379 |
| 11 years | $1,345 |
| 13 years | $4,069 |
| 15 years | $6,793 |
| 17 years | $9,517 |
| 19 years | $12,241 |
| 21 years | $14,966 |
| 23 years | $17,690 |
| 25 years | $20,414 |
Top Solar Installers in Muskingum
Putting up solar panels on your own can be a difficult task, which is why hiring a solar installer is a good option for many homeowners. The payback period on a solar system will vary depending on factors like your location and energy needs, but working with a solar company can shorten that period. Your provider will be able to help you identify incentives available in your area.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:
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 Muskingum
Factors that Affect Solar Panel Costs in Muskingum
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that affect your total cost in Muskingum: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That's why it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The model of solar panels and equipment you choose is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to consider 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 for a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Muskingum to be too costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. When estimating your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Muskingum, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and decide on the company that has 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 | $2.66 | $11,182 | $15,681 | 10.4 years |
| 8 kW | $2.61 | $14,623 | $21,195 | 10.2 years |
| 10 kW | $2.56 | $17,920 | $26,852 | 10.0 years |
| 12 kW | $2.51 | $21,074 | $32,653 | 9.8 years |
| 14 kW | $2.46 | $24,084 | $38,597 | 9.6 years |
| 16 kW | $2.41 | $26,952 | $44,684 | 9.4 years |
| 18 kW | $2.36 | $29,676 | $50,915 | 9.2 years |
| 20 kW | $2.30 | $32,256 | $57,289 | 9.0 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which model 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 options before deciding.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years most likely offer good-quality solar panel installation and expertise.
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 Muskingum, OH Solar Cost FAQs
How much does it cost to install solar panels in Muskingum?
This is a tough question to answer exactly, because the cost depends on a variety of 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 cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Muskingum?
Leasing solar panels can be an option if you can't pay upfront or get 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.
Does Muskingum have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily 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 get 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.