Solar Panel Cost Guide in Randolph, OH (2024 Update)
- Randolph Solar Installation Cost: $18,596
- 25-Year Savings: $12,477
- Payback Period: 17.6 Years
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Average Cost of Solar Panels in Randolph
Let’s have a look at the average cost of solar panels in Randolph.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Randolph, the average cost of solar panels is 3 per watt.The average solar panel system size in Randolph is around 7.8 kilowatts, meaning a cost of about $18,596 for a solar installation, or $26,592 before the 0 federal solar tax credit is applied.
How much you pay can go above or below the average in Randolph depending on a variety of factors, such as the kind of solar panels you choose and the solar company you hire.But, after you've paid the initial cost of installation, the savings for most homeowners is typically fruitful, with a net average savings of about $13,000 over 20 years on energy bills.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Randolph
| Year | Return on Investment |
|---|---|
| 1 years | $-17,376 |
| 3 years | $-14,935 |
| 5 years | $-12,495 |
| 7 years | $-10,054 |
| 9 years | $-7,614 |
| 11 years | $-5,173 |
| 13 years | $-2,733 |
| 15 years | $-292 |
| 17 years | $2,148 |
| 19 years | $4,588 |
| 21 years | $7,029 |
| 23 years | $9,469 |
| 25 years | $11,910 |
Top Solar Installers in Randolph
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Hiring a solar panel installer can make your switch to solar power much easier. Plus, if you aren’t sure what kind of solar panels and equipment you need, a solar company can help you find the right equipment for you after a site survey and consultation.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Randolph
Factors that Affect Solar Panel Costs in Randolph
Though the average cost of a solar system in Randolph is $18,596, your final cost may differ. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Randolph, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can figure out by looking at past power bills. Your overall cost can increase by about $3,410 for each additional kilowatt you need.The type of solar equipment you choose can increase or decrease your cost 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. However, more efficient panels could save you more in the long run on your power bills. Additionally, extra products, like solar batteries, can bump up your total well above the Randolph average.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That’s why many Randolph homeowners decide to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also adds to your overall costs, so it’s important to include that in your estimate as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to clean energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Randolph, and each can charge different amounts for labor and equipment.The size of the company can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $5,466 | 18.3 years |
| 8 kW | $3.48 | $19,478 | $7,670 | 17.9 years |
| 10 kW | $3.41 | $23,870 | $10,065 | 17.6 years |
| 12 kW | $3.34 | $28,071 | $12,651 | 17.2 years |
| 14 kW | $3.27 | $32,081 | $15,428 | 16.9 years |
| 16 kW | $3.21 | $35,900 | $18,396 | 16.5 years |
| 18 kW | $3.14 | $39,529 | $21,555 | 16.2 years |
| 20 kW | $3.07 | $42,966 | $24,904 | 15.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, 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:
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
- Installation Process: One of the most important things to understand when going solar 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.
- Contract: Before signing a contract with a solar company, make sure to read it through completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
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 Randolph, OH Solar Cost FAQs
What is the average cost of installing solar panels in Randolph?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels eliminate my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Randolph, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use 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.