Solar Panel Cost Guide in Park Layne, OH (Mar 2023)
- Park Layne Solar Installation Cost: $13,350
- 25-Year Savings: $12,873
- Payback Period: 12.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Park Layne
Find out what the average cost of installing solar panels is in Park Layne.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Park Layne, the typical cost of solar panels is 2.56 per watt. To cover the typical energy needs of the average home in Park Layne, most homeowners require a 7.5-kilowatt system. Using the figure above, a solar installation costs about $13,350, or $19,090 before the federal solar tax credit of 30% is applied.
These figures are just averages, and how much solar costs for you will vary based on your energy needs and what company you want to go with. But, once you've paid the initial cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $13,000 over 20 years on power bills.
You can click the button below to get connected with a vetted solar company in Park Layne that can help you get a more accurate cost estimate for your home.
Solar savings over time in Park Layne
| Year | Return on Investment |
|---|---|
| 1 years | $-12,301 |
| 3 years | $-10,204 |
| 5 years | $-8,106 |
| 7 years | $-6,008 |
| 9 years | $-3,910 |
| 11 years | $-1,812 |
| 13 years | $286 |
| 15 years | $2,384 |
| 17 years | $4,481 |
| 19 years | $6,579 |
| 21 years | $8,677 |
| 23 years | $10,775 |
| 25 years | $12,873 |
Top Solar Installers in Park Layne
Many homeowners opt for a solar installation company since trying to put up solar panels yourself can be a labor-intensive endeavor. The expertise that solar companies offer can be helpful as well, especially if you aren't sure what type of solar equipment you need.
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 in Park Layne:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Park Layne
Factors that Affect Solar Panel Costs in Park Layne
The cost of installing a solar system in Park Layne can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest 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 electricity your household consumes, the larger your system will likely need to be. You can expect to spend about $2,560 per kilowatt in Park Layne. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Park Layne, where sunlight is relatively abundant, efficiency can quickly pay off. Also, 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
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are available from most installers in Park Layne, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable. 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar company you choose will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor. The company's size can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access 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 promotion can bring their pricing down 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 | $2.66 | $11,182 | $9,941 | 13.2 years |
| 8 kW | $2.61 | $14,623 | $13,541 | 13.0 years |
| 10 kW | $2.56 | $17,920 | $17,285 | 12.7 years |
| 12 kW | $2.51 | $21,074 | $21,171 | 12.5 years |
| 14 kW | $2.46 | $24,084 | $25,202 | 12.2 years |
| 16 kW | $2.41 | $26,952 | $29,376 | 12.0 years |
| 18 kW | $2.36 | $29,676 | $33,693 | 11.7 years |
| 20 kW | $2.30 | $32,256 | $38,153 | 11.5 years |
How to Save on Solar Panels
The solar installer you go with 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 take into account, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable 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 check your installer's reputation is by reading reviews.
- Solar Panel Brands: Different companies will carry different brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Park Layne, OH Solar Cost FAQs
How much does it cost to install solar panels in Park Layne?
The average cost of solar panels in Park Layne is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Park Layne?
You can't get solar panels for free in Park Layne. 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.
Can solar panels significantly reduce my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $704.09 per year.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.