Solar Panel Cost Guide in New Lebanon, OH (2024 Update)
- New Lebanon Solar Installation Cost: $17,915
- 25-Year Savings: $9,027
- Payback Period: 19.9 Years
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Average Cost of Solar Panels in New Lebanon
We break down average solar pricing in New Lebanon.
While the national average of solar panels is $2.66 per watt, solar panels in New Lebanon generally cost around 3.The average solar panel system size in New Lebanon is around 7.5 kilowatts, meaning a cost of about $17,915 for a solar installation, or $25,618 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average New Lebanon homeowner. 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, after you've paid the initial cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $11,000 over 20 years on utility bills.
To get a free estimate from a top solar installer in New Lebanon, you can click the button below.
Solar savings over time in New Lebanon
| Year | Return on Investment |
|---|---|
| 1 years | $-16,897 |
| 3 years | $-14,860 |
| 5 years | $-12,823 |
| 7 years | $-10,787 |
| 9 years | $-8,750 |
| 11 years | $-6,714 |
| 13 years | $-4,677 |
| 15 years | $-2,640 |
| 17 years | $-604 |
| 19 years | $1,433 |
| 21 years | $3,469 |
| 23 years | $5,506 |
| 25 years | $7,543 |
Top Solar Installers in New Lebanon
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Hiring a solar company can make swapping over to solar power much easier. Some solar companies, particularly local ones, can help you better understand incentives in New Lebanon, therefore optimizing your ROI.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some near you:
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 Lebanon
Factors that Affect Solar Panel Costs in New Lebanon
There are several criteria that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,410.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in New Lebanon offer solar loans, which reduce your upfront costs of installing solar panels.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installation company you pick will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor.The company’s size sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $3,074 | 20.7 years |
| 8 kW | $3.48 | $19,478 | $4,480 | 20.3 years |
| 10 kW | $3.41 | $23,870 | $6,078 | 19.9 years |
| 12 kW | $3.34 | $28,071 | $7,866 | 19.5 years |
| 14 kW | $3.27 | $32,081 | $9,846 | 19.1 years |
| 16 kW | $3.21 | $35,900 | $12,016 | 18.7 years |
| 18 kW | $3.14 | $39,529 | $14,377 | 18.3 years |
| 20 kW | $3.07 | $42,966 | $16,930 | 17.9 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Reputation: Your solar installer should have a good reputation as a company and have proven 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 good reviews from previous customers.
- Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Different companies offer different brands and models of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 Lebanon, OH Solar Cost FAQs
How much does it cost to install solar panels in New Lebanon?
This is a tough 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in New Lebanon?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home 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.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $598.96 per year.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.