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

  • Oxford Solar Installation Cost: $17,747
  • 25-Year Savings: $15,305
  • Payback Period: 15.5 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 Oxford

We break down average solar pricing in Oxford.

The average cost of solar panels in Oxford is 3 per watt.To account for the typical energy usage of the average home in Oxford, most homeowners require a 7.4-kilowatt system. Using the per-watt figure above, a solar installation costs around $17,747, or $25,378 before the federal solar tax credit of 0 is applied.

The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of installing solar panels can vary quite a bit depending on several factors, such as what size system you need, your energy consumption and what company you go with.But, after you've paid the initial cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $15,000 over 20 years on energy bills.

Click the button below to get connected to a highly rated solar panel company in your area for a customized quote.

Solar savings over time in Oxford

Year Return on Investment
1 years $-16,560
3 years $-14,185
5 years $-11,811
7 years $-9,436
9 years $-7,062
11 years $-4,688
13 years $-2,313
15 years $61
17 years $2,436
19 years $4,810
21 years $7,185
23 years $9,559
25 years $11,934

Top Solar Installers in Oxford

Although you can install solar panels on your own, it involves extra labor and handiness. That's why the majority of homeowners choose to hire a solar panel installer. Some solar installers, especially local ones, can help you take advantage of incentives in Oxford, optimizing your ROI.

If you're looking for a solar company in Oxford, we've compiled a list of our top suggestions here:

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 Oxford

Factors that Affect Solar Panel Costs in Oxford

The cost of installing a solar system in Oxford can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.

Solar Equipment

One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend around $3,410 per kilowatt in Oxford.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your power bills. Additionally, extra products, such as solar batteries, can bring your total well above the Oxford average.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are provided by most installers in Oxford, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you can only 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 securing a solar loan with a low interest rate could reduce your costs significantly.

Solar Panel Installation Company

Finally, the company you opt for to install your solar system can affect how much you pay. Oxford’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.

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 $8,209 16.1 years
8 kW $3.48 $19,478 $11,327 15.8 years
10 kW $3.41 $23,870 $14,636 15.5 years
12 kW $3.34 $28,071 $18,136 15.2 years
14 kW $3.27 $32,081 $21,827 14.9 years
16 kW $3.21 $35,900 $25,709 14.6 years
18 kW $3.14 $39,529 $29,781 14.3 years
20 kW $3.07 $42,966 $34,045 13.9 years

How to Save on Solar Panels

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

  • Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
  • Contract: When reading through your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
  • Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
  • 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.

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 Oxford, OH Solar Cost FAQs

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

This is a difficult question to answer precisely, because the cost depends on a variety of factors. Broadly 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 cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.

Should I lease or buy solar panels in Oxford?

Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.

How much can I save on electricity bills after switching to solar?

Solar panels can potentially eliminate your electricity bills depending on where you’re located 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 $770.11 per year.

How long do solar panels last in Oxford?

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 larger amount 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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