Solar Panel Cost Guide in Oakwood, OH (Feb 2023)
- Oakwood Solar Installation Cost: $13,458
- 25-Year Savings: $9,019
- Payback Period: 15.0 Years
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Top Solar Installers in Oakwood
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Hiring an installer can make converting to solar power much easier. Plus, warranties and repairs from your solar panel installer can protect your investment and lower the cost of maintenance over the lifespan of your panels.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in Oakwood
Factors that Affect Solar Panel Costs in Oakwood
The cost of installing a solar system in Oakwood can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
The size of the solar system you need for your home, 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 about $2,560. There are several different solar panel brands and the one you choose also changes the cost. In many cases, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Oakwood to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
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 Oakwood is the company you get to install your solar system. Similar to choosing a company to install new cabinets, for instance, there's no shortage of solar installers that offer a range of services for different budgets. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that has the products, warranties and services you're looking for and also is within your budget.
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||$6,787||15.6 years|
|8 kW||$2.61||$14,623||$9,336||15.3 years|
|10 kW||$2.56||$17,920||$12,028||15.0 years|
|12 kW||$2.51||$21,074||$14,864||14.7 years|
|14 kW||$2.46||$24,084||$17,843||14.4 years|
|16 kW||$2.41||$26,952||$20,965||14.1 years|
|18 kW||$2.36||$29,676||$24,231||13.8 years|
|20 kW||$2.30||$32,256||$27,640||13.5 years|
How to Save on Solar Panels
There are numerous companies to choose from in Oakwood, 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: When looking through your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project timeline.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
EcoWatch's Oakwood, OH Solar Cost FAQs
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.