Solar Panel Cost Guide in Muskingum, OH (2023 Update)
- Muskingum Solar Installation Cost: $13,629
- 25-Year Savings: $20,422
- Payback Period: 10.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Muskingum
We go over average solar pricing 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. Since a 7.6-kW system is needed to cover the energy needs of a typical home in Muskingum, the average price of going solar will be about $13,637 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average energy use of Muskingum homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. But, once you've paid the upfront cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $17,000 over 20 years on electricity bills.
You can click the button below to get connected with a pre-vetted solar installer in Muskingum that can help you get a more accurate cost estimate for your home.
Solar savings over time in Muskingum
| Year | Return on Investment |
|---|---|
| 1 years | $-13,515 |
| 3 years | $-13,288 |
| 5 years | $-13,061 |
| 7 years | $-12,834 |
| 9 years | $-12,607 |
| 11 years | $-12,380 |
| 13 years | $-12,153 |
| 15 years | $-11,926 |
| 17 years | $-11,699 |
| 19 years | $-11,472 |
| 21 years | $-11,245 |
| 23 years | $-11,018 |
| 25 years | $-10,791 |
Top Solar Installers in Muskingum
Trying to put up solar panels by yourself can be a challenging project, which is why hiring a solar installation company is a good option for many homeowners. Plus, if you'd like to maximize your investment in solar, going with a solar company can help with that too. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives and net metering programs.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Muskingum
Factors that Affect Solar Panel Costs in Muskingum
There are several factors that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The size of the solar energy 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, you can expect your total to increase by about $2,560. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your energy bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Muskingum average.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Muskingum homeowners decide to finance their solar panel systems to make going solar more affordable. Though solar loans make going solar more accessible for Muskingum homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you go with to handle your switch to green energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Muskingum, and each can charge different amounts for labor and equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions 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 | $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 type of solar panels and the company you choose significantly affects 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:
- 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.
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business 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
EcoWatch's Muskingum, OH Solar Cost FAQs
What is the average cost of installing solar panels in Muskingum?
The average cost of solar panels in Muskingum is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Muskingum?
Leasing solar panels can be an attractive choice, as it usually 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
How will installing solar panels impact my property value?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can 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 cover 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.