Solar Panel Cost Guide in Oakwood, OH (2024 Update)

  • Oakwood Solar Installation Cost: $17,915
  • 25-Year Savings: $9,027
  • Payback Period: 19.9 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Oakwood

We break down average solar pricing in Oakwood.

The national average cost of solar panels is $2.66 per watt, but in Oakwood it’s 3 per watt.Using this figure, a typical 7.5-kW system would cost about $17,915 before the 0 federal solar tax credit is applied.

Keep in mind that the figures above are only estimates based on the average energy use of Oakwood homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.But, once you've paid the upfront cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $11,000 over 20 years on electricity bills.

To see your potential ROI and connect with a local solar installer, click the button below.

Solar savings over time in Oakwood

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 Oakwood

Although you can install solar panels on your own, it requires extra energy and knowledge. That's why most people choose to go with a solar panel installer. Some solar installers, especially local ones, can help you make the most of incentives in Oakwood, optimizing your ROI.

If you’d like to switch to solar energy but still aren’t sure which solar system installer to go with, here are our suggestions for providers in Oakwood:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • 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 Oakwood

Factors that Affect Solar Panel Costs in Oakwood

Although the average cost of a solar system in Oakwood is $17,915, your actual cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.

Solar Equipment

The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,410. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Oakwood, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Oakwood to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in paying more over time because of interest.It’s wise to factor 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 the amount of time it’ll take to pay back the loan.

Solar Panel Installation Company

The solar company you choose will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor.The size of the company sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and better 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 down to compete with bigger names.

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 solar installer you choose will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, including:

  • Contract: Though reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
  • Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
  • Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Oakwood, OH Solar Cost FAQs

What is the average cost of installing solar panels in Oakwood?

The average cost of solar panels in Oakwood is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.

Should I lease or buy solar panels in Oakwood?

Leasing solar panels can be an option if you are unable to 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 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 financial benefits from going solar.

Is making the switch to solar worth it?

Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.

How long do solar panels last in Oakwood?

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.

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