Solar Panel Cost Guide in North College Hill, OH (2023 Update)
- North College Hill Solar Installation Cost: $13,240
- 25-Year Savings: $10,949
- Payback Period: 13.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in North College Hill
We break down average solar pricing in North College Hill.
Although the national average of solar panels is $2.66 per watt, solar panels in North College Hill typically cost around 2.56. Because a 7.4-kW system is needed to cover the energy costs of a typical home in North College Hill, the average price of going solar will be about $13,243 after claiming the federal solar tax credit of 30%.
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 panels you choose, your solar contractor and more. Even with the high initial cost, the average North College Hill homeowner can save about $12,000 on their energy bills over 20 years, which is one of the benefits of solar.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in North College Hill
| Year | Return on Investment |
|---|---|
| 1 years | $-12,075 |
| 3 years | $-9,745 |
| 5 years | $-7,415 |
| 7 years | $-5,085 |
| 9 years | $-2,755 |
| 11 years | $-425 |
| 13 years | $1,905 |
| 15 years | $4,235 |
| 17 years | $6,565 |
| 19 years | $8,895 |
| 21 years | $11,225 |
| 23 years | $13,555 |
| 25 years | $15,885 |
Top Solar Installers in North College Hill
When going solar, many homeowners opt to hire a solar installation company since DIY solar panel installation can be a challenging project. Some solar companies, especially local ones, can help you make the most of incentives in North College Hill, therefore optimizing your ROI.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:
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 North College Hill
Factors that Affect Solar Panel Costs in North College Hill
For many North College Hill homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in North College Hill, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,560. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like North College Hill, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a popular choice because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also increases your overall costs, so it's crucial to keep that in mind as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in North College Hill is the company you hire to install your PV system. As with choosing a company to install new cabinets, for instance, you'll have no shortage of solar installers that provide a range of services for different budgets. Additionally, some companies in North College Hill have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $8,461 | 14.2 years |
| 8 kW | $2.61 | $14,623 | $11,568 | 14.0 years |
| 10 kW | $2.56 | $17,920 | $14,818 | 13.7 years |
| 12 kW | $2.51 | $21,074 | $18,212 | 13.4 years |
| 14 kW | $2.46 | $24,084 | $21,749 | 13.1 years |
| 16 kW | $2.41 | $26,952 | $25,430 | 12.9 years |
| 18 kW | $2.36 | $29,676 | $29,253 | 12.6 years |
| 20 kW | $2.30 | $32,256 | $33,221 | 12.3 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 pick the right company for you, here are some tips to keep in mind:
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies carry various brands and models of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's North College Hill, OH Solar Cost FAQs
What is the average cost of installing solar panels in North College Hill?
This is a difficult question to answer precisely, 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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in North College Hill?
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 savings from going solar.
How much can I save on electricity bills after installing solar panels?
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 $654.77 per year.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.