Solar Panel Cost Guide in Pike, OH (2024 Update)
- Pike Solar Installation Cost: $17,961
- 25-Year Savings: $17,217
- Payback Period: 14.6 Years
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Average Cost of Solar Panels in Pike
Find out what the average cost of solar panel installation is in Pike.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Pike, the average cost of a solar system is 3 per watt.To account for the typical energy needs of the average home in Pike, most homeowners require a 7.5-kilowatt system. Using the per-watt figure above, a solar installation costs about $17,961, or $25,684 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy consumption, the type of equipment you choose, your solar contractor and more.For many homeowners, the upfront cost of solar panels is worth paying. On average Pike homeowners see about $16,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a vetted solar company in Pike that can help you get a more accurate cost estimate for your home.
Solar savings over time in Pike
| Year | Return on Investment |
|---|---|
| 1 years | $-16,629 |
| 3 years | $-13,965 |
| 5 years | $-11,301 |
| 7 years | $-8,637 |
| 9 years | $-5,973 |
| 11 years | $-3,309 |
| 13 years | $-645 |
| 15 years | $2,020 |
| 17 years | $4,684 |
| 19 years | $7,348 |
| 21 years | $10,012 |
| 23 years | $12,676 |
| 25 years | $15,340 |
Top Solar Installers in Pike
Although you can install solar panels on your own, it takes extra energy and knowledge. Because of that, most people choose to hire a solar panel installer. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
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 Pike
Factors that Affect Solar Panel Costs in Pike
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Pike: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The size of the solar panel system you need, 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 around $3,410. There are a lot of different solar panel brands and the one you choose also affects the cost. In general, the brands that are more efficient tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are an affordable choice because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also adds to your all-in costs, so it’s important to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
A final consideration 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. As with choosing a company to install new cabinets, for instance, there’s no shortage of solar installers that provide a range of services for different budgets.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and choose a company that offers 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 | $3.55 | $14,895 | $9,586 | 15.2 years |
| 8 kW | $3.48 | $19,478 | $13,163 | 14.9 years |
| 10 kW | $3.41 | $23,870 | $16,931 | 14.6 years |
| 12 kW | $3.34 | $28,071 | $20,890 | 14.3 years |
| 14 kW | $3.27 | $32,081 | $25,040 | 14.0 years |
| 16 kW | $3.21 | $35,900 | $29,381 | 13.7 years |
| 18 kW | $3.14 | $39,529 | $33,913 | 13.5 years |
| 20 kW | $3.07 | $42,966 | $38,635 | 13.2 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a good company.
- Solar Panel Brands: The brand of solar panel you need to install plays a part in which installer you should choose, since different companies have different panels.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
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 Pike, OH Solar Cost FAQs
How much does it cost to install solar panels in Pike?
The average cost of solar panels in Pike is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Pike?
You can’t get solar panels for free in Pike. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Does Pike have a net metering program?
Most states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Pike?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using them at a lower efficiency.
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.