Solar Panel Cost Guide in Nimishillen, OH (2023 Update)
- Nimishillen Solar Installation Cost: $13,942
- 25-Year Savings: $14,264
- Payback Period: 12.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Nimishillen
Let's take a look at the average cost of solar in Nimishillen.
The average cost of a solar panel system in Nimishillen is 2.56 per watt. The average Nimishillen homeowner needs a 7.8-kilowatt system, which would cost about $13,942 with the federal tax credit, or $19,937 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Nimishillen homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Despite the large upfront cost, the average Nimishillen homeowner can save about $14,000 on their electricity bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a top solar installer in Nimishillen that can help you get a more accurate cost estimate for your home.
Solar savings over time in Nimishillen
| Year | Return on Investment |
|---|---|
| 1 years | $-12,814 |
| 3 years | $-10,557 |
| 5 years | $-8,301 |
| 7 years | $-6,044 |
| 9 years | $-3,788 |
| 11 years | $-1,531 |
| 13 years | $725 |
| 15 years | $2,982 |
| 17 years | $5,238 |
| 19 years | $7,494 |
| 21 years | $9,751 |
| 23 years | $12,007 |
| 25 years | $14,264 |
Top Solar Installers in Nimishillen
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Using a solar panel installer can make your switch to solar power much easier. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some nearby:
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 Nimishillen
Factors that Affect Solar Panel Costs in Nimishillen
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that determine your overall cost in Nimishillen: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar system in Nimishillen, one of the most crucial 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 electricity bills. Your total cost can increase by about $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 get 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 Nimishillen average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are available from most installers in Nimishillen, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The remaining major cost factor you should take into consideration is the installer you choose. Given the growing popularity of green energy solutions in Nimishillen, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $2.66 | $11,182 | $10,579 | 12.8 years |
| 8 kW | $2.61 | $14,623 | $14,392 | 12.6 years |
| 10 kW | $2.56 | $17,920 | $18,349 | 12.4 years |
| 12 kW | $2.51 | $21,074 | $22,448 | 12.1 years |
| 14 kW | $2.46 | $24,084 | $26,691 | 11.9 years |
| 16 kW | $2.41 | $26,952 | $31,078 | 11.6 years |
| 18 kW | $2.36 | $29,676 | $35,608 | 11.4 years |
| 20 kW | $2.30 | $32,256 | $40,281 | 11.1 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: The kind of solar panel you want to install plays a role in which installer you should go with, since different companies have 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 Nimishillen, OH Solar Cost FAQs
What is the average cost of installing solar panels in Nimishillen?
This is a tough question to answer exactly, because the cost depends on many 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Nimishillen?
You can't get solar panels for free in Nimishillen. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact the value of my home?
Solar panels can increase the value of your home considerably 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% after installing solar panels."
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 buy 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.