Solar Panel Cost Guide in Olive, OH (2024 Update)
- Olive Solar Installation Cost: $18,309
- 25-Year Savings: $26,880
- Payback Period: 11.3 Years
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Average Cost of Solar Panels in Olive
We go over average solar pricing in Olive.
Although the national average of solar panels is $2.66 per watt, solar panels in Olive typically cost about 3.The average solar panel system size in Olive is around 7.7 kilowatts, meaning a cost of about $18,309 for a solar installation, or $26,182 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Olive homeowner. The cost 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.With average savings of about $20,000 on utility bills over 20 years, many homeowners in Olive find installing solar panels can pay off big.
You can click the button below to get connected with a top solar installer in Olive for a quote for your home.
Solar savings over time in Olive
| Year | Return on Investment |
|---|---|
| 1 years | $-16,783 |
| 3 years | $-13,732 |
| 5 years | $-10,681 |
| 7 years | $-7,630 |
| 9 years | $-4,579 |
| 11 years | $-1,527 |
| 13 years | $1,524 |
| 15 years | $4,575 |
| 17 years | $7,626 |
| 19 years | $10,677 |
| 21 years | $13,728 |
| 23 years | $16,779 |
| 25 years | $19,830 |
Top Solar Installers in Olive
Trying to install solar panels on your own can be a challenging undertaking, which is why getting a solar installer is a good option for many homeowners. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and system component replacements.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Olive
Factors that Affect Solar Panel Costs in Olive
For many Olive homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Olive, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel 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, your total will most likely increase by nearly $3,410. The kind of solar equipment you choose can increase or decrease your cost 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, higher efficiency could save you more over time on your power bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Olive average.
Solar Financing Terms
Most solar installers in Olive provide solar loans, which reduce your upfront costs of installing a solar system.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Olive is the company you get to install your solar panel 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 at different costs.Additionally, some companies in Olive know more 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 | $3.55 | $14,895 | $16,884 | 11.7 years |
| 8 kW | $3.48 | $19,478 | $22,894 | 11.5 years |
| 10 kW | $3.41 | $23,870 | $29,095 | 11.3 years |
| 12 kW | $3.34 | $28,071 | $35,486 | 11.0 years |
| 14 kW | $3.27 | $32,081 | $42,069 | 10.8 years |
| 16 kW | $3.21 | $35,900 | $48,843 | 10.6 years |
| 18 kW | $3.14 | $39,529 | $55,808 | 10.4 years |
| 20 kW | $3.07 | $42,966 | $62,963 | 10.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Installation Process: Make sure you’re on the same page with the installer in regard to 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.
- Warranty: If you care about the endurance of your solar system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
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 Olive, OH Solar Cost FAQs
What is the average cost of installing solar panels in Olive?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally 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 other solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Are solar panels free in Olive?
You can’t get solar panels for free in Olive. 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 want to own your solar panels, you can finance them with a solar loan.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a 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 get 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.