Solar Panel Cost Guide in New Carlisle, OH (2023 Update)
- New Carlisle Solar Installation Cost: $13,350
- 25-Year Savings: $14,286
- Payback Period: 12.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in New Carlisle
Let's take a look at the average cost of solar panels in New Carlisle.
Although the national average of solar panels is $2.66 per watt, solar panels in New Carlisle typically cost around 2.56. To cover the typical energy usage of the average home in New Carlisle, most homeowners require a 7.5-kilowatt system. Using the figure above, a solar installation costs about $13,350, or $19,090 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of installing solar panels can vary depending on multiple factors, such as what size system you need, your energy usage and what installation company you go with. Many homeowners find going solar is a solid investment. The average homeowner in New Carlisle can save about $14,000 on their energy bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in New Carlisle
| Year | Return on Investment |
|---|---|
| 1 years | $-12,245 |
| 3 years | $-10,034 |
| 5 years | $-7,823 |
| 7 years | $-5,612 |
| 9 years | $-3,401 |
| 11 years | $-1,190 |
| 13 years | $1,020 |
| 15 years | $3,231 |
| 17 years | $5,442 |
| 19 years | $7,653 |
| 21 years | $9,864 |
| 23 years | $12,075 |
| 25 years | $14,286 |
Top Solar Installers in New Carlisle
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. Hiring a solar panel installer can make switching to solar power much easier. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in New Carlisle
Factors that Affect Solar Panel Costs in New Carlisle
Even though the average cost of a solar system in New Carlisle is $13,350, your actual cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
When it comes to estimating the cost of a solar energy 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 gauge by looking at past electricity bills. Your overall cost can increase by around $2,560 for each additional kilowatt you need. The type of solar equipment you choose can bring your price up or down 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. On the other hand, higher efficiency could save you more in the long run on your power bills. Additionally, extra products, such as solar batteries, can bring your total well above the New Carlisle average.
Solar Financing Terms
Many homeowners find the average cost of solar in New Carlisle to be too expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you select will impact your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $11,079 | 12.6 years |
| 8 kW | $2.61 | $14,623 | $15,058 | 12.3 years |
| 10 kW | $2.56 | $17,920 | $19,181 | 12.1 years |
| 12 kW | $2.51 | $21,074 | $23,448 | 11.8 years |
| 14 kW | $2.46 | $24,084 | $27,858 | 11.6 years |
| 16 kW | $2.41 | $26,952 | $32,411 | 11.4 years |
| 18 kW | $2.36 | $29,676 | $37,107 | 11.1 years |
| 20 kW | $2.30 | $32,256 | $41,947 | 10.9 years |
How to Save on Solar Panels
There are many companies available in New Carlisle, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Though reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Warranty: If you're concerned about the durability of your solar energy system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: The brand of solar panel you'd like plays a part in which installer you should opt for, since different companies offer different panels.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 few different factors. Generally speaking, it costs about $12,800 for a 5-kW system and $25,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in New Carlisle?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you don't have access to 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 bang for your buck from going solar.
Can solar panels eliminate my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout New Carlisle, that will require at least a 10-kW system. Not all homes will have the roof space for 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 many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out 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 home 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.