Solar Panel Cost Guide in New Albany, OH (2025 Update)
- New Albany Solar Installation Cost: $18,067
- 25-Year Savings: $20,254
- Payback Period: 13.4 Years
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Average Cost of Solar Panels in New Albany
We go over average solar pricing in New Albany.
Currently, the national average cost of solar panels is $2.66 per watt. However, in New Albany, the typical cost of a solar system is 3 per watt.To account for the typical energy usage of the average home in New Albany, most homeowners require a 7.6-kilowatt system. Using the per-watt figure above, a solar installation costs about $18,067, or $25,836 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy consumption, the type of solar system you choose, your solar contractor and more.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $17,000 over 20 years on utility bills.
You can click the button below to get connected with a vetted solar installer in New Albany that can help you get a more accurate cost estimate for your home.
Solar savings over time in New Albany
| Year | Return on Investment |
|---|---|
| 1 years | $-16,804 |
| 3 years | $-14,278 |
| 5 years | $-11,751 |
| 7 years | $-9,225 |
| 9 years | $-6,699 |
| 11 years | $-4,173 |
| 13 years | $-1,646 |
| 15 years | $880 |
| 17 years | $3,406 |
| 19 years | $5,933 |
| 21 years | $8,459 |
| 23 years | $10,985 |
| 25 years | $13,511 |
Top Solar Installers in New Albany
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Going with an installer can make your switch to solar power much easier. Solar companies offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
If you're on the hunt for a solar company in New Albany, we've organized 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
See all of the solar companies in New Albany
Factors that Affect Solar Panel Costs in New Albany
The cost of installing a solar system in New Albany can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like New Albany, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of 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
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are offered by most installers in New Albany, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also adds to your total costs, so it’s important to include that in your estimate as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar panel installation company you select will affect your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor.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 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’re looking for 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 | $11,913 | 13.9 years |
| 8 kW | $3.48 | $19,478 | $16,266 | 13.6 years |
| 10 kW | $3.41 | $23,870 | $20,809 | 13.4 years |
| 12 kW | $3.34 | $28,071 | $25,544 | 13.1 years |
| 14 kW | $3.27 | $32,081 | $30,470 | 12.8 years |
| 16 kW | $3.21 | $35,900 | $35,587 | 12.6 years |
| 18 kW | $3.14 | $39,529 | $40,894 | 12.3 years |
| 20 kW | $3.07 | $42,966 | $46,393 | 12.0 years |
How to Save on Solar Panels
The solar panel company you choose will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, such as:
- Contract: It’s important to read your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: Different companies will carry different brands and kinds of panels. If you prefer a specific brand, make sure the solar company you’re considering has it.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's New Albany, OH Solar Cost FAQs
What is the average cost of installing solar panels in New Albany?
The average cost of solar panels in New Albany is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to think about when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In cities 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.
How will solar panels impact the value of my home?
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 New Albany is currently $563,993, so you could be looking at a value of about $23,124 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in New Albany is a worthwhile investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household 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.