Solar Panel Cost Guide in Piqua, OH (2024 Update)
- Piqua Solar Installation Cost: $17,901
- 25-Year Savings: $7,556
- Payback Period: 15.1 Years
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Average Cost of Solar Panels in Piqua
Let’s have a look at the average cost of solar in Piqua.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Piqua, the average cost of solar panels is 3 per watt.The average Piqua homeowner needs a 7.5-kilowatt system, which would cost about $17,901 with the federal tax credit, or $25,598 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Piqua homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Despite the significant initial cost, the average Piqua homeowner can save about $15,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To get a free quote from a vetted solar installation company in Piqua, you can click the button below.
Solar savings over time in Piqua
| Year | Return on Investment |
|---|---|
| 1 years | $-16,883 |
| 3 years | $-14,846 |
| 5 years | $-12,809 |
| 7 years | $-10,773 |
| 9 years | $-8,736 |
| 11 years | $-6,700 |
| 13 years | $-4,663 |
| 15 years | $-2,627 |
| 17 years | $-590 |
| 19 years | $1,447 |
| 21 years | $3,483 |
| 23 years | $5,520 |
| 25 years | $7,556 |
Top Solar Installers in Piqua
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Hiring an installer can make your swap to solar power much easier. A solar installer can also help save you money in the long run by offering warranties, repairs and part replacements.
If you’d like to switch to solar energy but still aren’t sure which solar system installer to go with, here are our suggestions for providers in Piqua:
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
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 Piqua
Factors that Affect Solar Panel Costs in Piqua
Cost is typically 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 Piqua: 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
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $3,410 per kilowatt in Piqua.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Piqua to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest.You’ll have to consider the long-term cost of loans, 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Piqua is the company you choose to install your PV system. As with choosing a company to install new cabinets, for instance, you’ll have no shortage of solar installers that offer a range of services at different costs.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 cost more. It’s best to do some research and find a company that offers the products, warranties and services you want and also fits 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 | $8,749 | 15.7 years |
| 8 kW | $3.48 | $19,478 | $12,047 | 15.4 years |
| 10 kW | $3.41 | $23,870 | $15,537 | 15.1 years |
| 12 kW | $3.34 | $28,071 | $19,217 | 14.8 years |
| 14 kW | $3.27 | $32,081 | $23,088 | 14.5 years |
| 16 kW | $3.21 | $35,900 | $27,150 | 14.2 years |
| 18 kW | $3.14 | $39,529 | $31,403 | 13.9 years |
| 20 kW | $3.07 | $42,966 | $35,847 | 13.6 years |
How to Save on Solar Panels
The solar panel company you go with will be a major factor in determining 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 a few important things you should keep in mind, such as:
- Solar Panel Brands: Different companies will have various brands and models of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: Review the contract terms carefully to make sure you understand the overall cost, project timeline incentives and warranties.
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
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 Piqua, OH Solar Cost FAQs
What is the average cost of installing solar panels in Piqua?
The average cost of solar panels in Piqua is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can solar panels significantly reduce my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $788.13 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can 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 buy 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.