Solar Panel Cost Guide in Pike, OH (Jan 2023)
- Pike Solar Installation Cost: $13,476
- 25-Year Savings: $17,225
- Payback Period: 11.0 Years
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Top Solar Installers in Pike
When making the switch to solar, many homeowners choose to go with a solar company since installing a solar system yourself can be a difficult project. Plus, if you're not certain what brand of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
If you'd like to start using solar energy but still aren't certain which solar company to go with, here are our recommendations for providers nearby:
See all of the solar companies in Pike
Factors that Affect Solar Panel Costs in Pike
For many Pike homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Pike, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,560. The brand of solar panels and equipment you want is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a solid route because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Pike is the company you hire to install your solar system. Similar to choosing a company to install new cabinets, for instance, you'll have no shortage of solar installers that provide a range of services for different budgets. Additionally, some companies in Pike have more knowledge about local solar incentives and can help you take advantage 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 end up saving you 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||$2.66||$11,182||$13,298||11.4 years|
|8 kW||$2.61||$14,623||$18,018||11.2 years|
|10 kW||$2.56||$17,920||$22,881||11.0 years|
|12 kW||$2.51||$21,074||$27,887||10.8 years|
|14 kW||$2.46||$24,084||$33,037||10.5 years|
|16 kW||$2.41||$26,952||$38,329||10.3 years|
|18 kW||$2.36||$29,676||$43,766||10.1 years|
|20 kW||$2.30||$32,256||$49,345||9.9 years|
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: When looking over your solar installer'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 part breaking or if the company goes out of business.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one sign of a quality company.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
EcoWatch's Pike, 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.