Solar Panel Cost Guide in New Carlisle, OH (2024 Update)
- New Carlisle Solar Installation Cost: $17,780
- 25-Year Savings: $14,288
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in New Carlisle
Let’s have a look at the average cost of solar in New Carlisle.
Currently, the national average cost of solar panels is $2.66 per watt. However, in New Carlisle, the average cost of solar panels is 3 per watt.To cover the typical energy usage of the average home in New Carlisle, most homeowners require a 7.4-kilowatt system. Using the figure above, a solar installation costs around $17,780, or $25,425 before the federal solar tax credit of 0 is applied.
These figures are only averages, and how much solar costs for you will most likely differ based on your specific situation and what company you go with.But, once you've paid the initial cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $14,000 over 20 years on power bills.
You can click the button below to get connected with a pre-vetted solar company in New Carlisle that can help you get a more accurate cost estimate for your home.
Solar savings over time in New Carlisle
| Year | Return on Investment |
|---|---|
| 1 years | $-16,762 |
| 3 years | $-14,725 |
| 5 years | $-12,689 |
| 7 years | $-10,652 |
| 9 years | $-8,616 |
| 11 years | $-6,579 |
| 13 years | $-4,542 |
| 15 years | $-2,506 |
| 17 years | $-469 |
| 19 years | $1,567 |
| 21 years | $3,604 |
| 23 years | $5,641 |
| 25 years | $7,677 |
Top Solar Installers in New Carlisle
Many homeowners choose to hire a solar panel installer since trying to put up solar panels on your own can be challenging. The payback period on a solar system will vary depending on factors like your roof configuration and energy needs, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in New Carlisle
Factors that Affect Solar Panel Costs in New Carlisle
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that will push your cost above or below the average in New Carlisle: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar system in New Carlisle, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can figure out by looking at past energy bills. Your overall cost can increase by about $3,410 for each additional kilowatt you need.The model of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Furthermore, 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 into a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in New Carlisle to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in New Carlisle is the company you choose to install your solar system. Similar to choosing a company to renovate your kitchen, for example, you’ll have no shortage of solar installers that offer a range of services for different budgets.Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $7,366 | 16.7 years |
| 8 kW | $3.48 | $19,478 | $10,203 | 16.4 years |
| 10 kW | $3.41 | $23,870 | $13,231 | 16.1 years |
| 12 kW | $3.34 | $28,071 | $16,451 | 15.8 years |
| 14 kW | $3.27 | $32,081 | $19,861 | 15.4 years |
| 16 kW | $3.21 | $35,900 | $23,462 | 15.1 years |
| 18 kW | $3.14 | $39,529 | $27,254 | 14.8 years |
| 20 kW | $3.07 | $42,966 | $31,237 | 14.5 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: Even though reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: Different companies will have various brands and kinds of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely provide high-quality solar panel installation and expertise.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's New Carlisle, OH Solar Cost FAQs
What is the average cost of installing solar panels in New Carlisle?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How much can I save on power bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in New Carlisle, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in New Carlisle?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.