Solar Panel Cost Guide in Richland, OH (2024 Update)
- Richland Solar Installation Cost: $18,453
- 25-Year Savings: $15,954
- Payback Period: 15.5 Years
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Average Cost of Solar Panels in Richland
Find out what the average cost of installing solar panels is in Richland.
The national average cost of solar panels is $2.66 per watt, but in Richland it’s 3 per watt.The average Richland homeowner needs a 7.7-kilowatt system, which would cost about $18,453 with the federal tax credit, or $26,388 before the 0 tax credit is applied.
The true cost of your system can be higher or lower than the average in Richland depending on a few factors, such as the kind of solar panels you choose and the solar installer you hire.With average savings of about $15,000 on power bills over 20 years, many homeowners in Richland find investing in solar can pay off big.
To receive a free estimate from a pre-vetted solar installation company in Richland, you can click the button below.
Solar savings over time in Richland
| Year | Return on Investment |
|---|---|
| 1 years | $-17,121 |
| 3 years | $-14,457 |
| 5 years | $-11,793 |
| 7 years | $-9,129 |
| 9 years | $-6,465 |
| 11 years | $-3,801 |
| 13 years | $-1,137 |
| 15 years | $1,527 |
| 17 years | $4,191 |
| 19 years | $6,855 |
| 21 years | $9,519 |
| 23 years | $12,183 |
| 25 years | $14,847 |
Top Solar Installers in Richland
Trying to install solar panels by yourself can be a stressful project, which is why using a solar installer is a good option for many homeowners. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Richland
Factors that Affect Solar Panel Costs in Richland
For many Richland homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Richland, 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.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels 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 pay about $3,410 per kilowatt in Richland.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Richland, where sunlight isn’t as abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Richland provide solar loans, which reduce your upfront costs of installing solar panels.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’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 getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Richland is the company you get to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, you’ll have no shortage of solar installers that offer a range of services at different costs.Additionally, some companies in Richland have more knowledge about local solar incentives and can help you learn about 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 | $3.55 | $14,895 | $8,240 | 16.1 years |
| 8 kW | $3.48 | $19,478 | $11,368 | 15.8 years |
| 10 kW | $3.41 | $23,870 | $14,687 | 15.5 years |
| 12 kW | $3.34 | $28,071 | $18,198 | 15.2 years |
| 14 kW | $3.27 | $32,081 | $21,899 | 14.9 years |
| 16 kW | $3.21 | $35,900 | $25,791 | 14.5 years |
| 18 kW | $3.14 | $39,529 | $29,875 | 14.2 years |
| 20 kW | $3.07 | $42,966 | $34,149 | 13.9 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before deciding.
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 Richland, OH Solar Cost FAQs
What is the average cost of installing solar panels in Richland?
The average cost of solar panels in Richland 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 certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Richland?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How will having solar panels impact my property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Richland is currently $143,208, which means you can look forward to a value of about $5,872 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Richland is a worthwhile investment.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.