Solar Panel Cost Guide in Richland, OH (2023 Update)
- Richland Solar Installation Cost: $13,852
- 25-Year Savings: $15,956
- Payback Period: 11.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Richland
Let's take a look at the average cost of solar in Richland.
In Richland, solar panels cost about 2.56 per watt on average. The average solar panel system size in Richland is around 7.7 kilowatts, meaning a cost of about $13,852 for a solar installation, or $19,808 before the 30% federal solar tax credit is applied.
These figures are only estimates, and your own solar costs will vary based on the amount of energy your home requires and what company you want to go with. But, once you've paid the upfront cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $15,000 over 20 years on electricity bills.
Click the button below to get connected to a reputable solar installer in your area for a personalized estimate.
Solar savings over time in Richland
| Year | Return on Investment |
|---|---|
| 1 years | $-12,660 |
| 3 years | $-10,275 |
| 5 years | $-7,891 |
| 7 years | $-5,506 |
| 9 years | $-3,121 |
| 11 years | $-737 |
| 13 years | $1,648 |
| 15 years | $4,032 |
| 17 years | $6,417 |
| 19 years | $8,802 |
| 21 years | $11,186 |
| 23 years | $13,571 |
| 25 years | $15,956 |
Top Solar Installers in Richland
Many homeowners decide to hire a solar panel company since trying to install solar panels on your own can be a labor-intensive endeavor. Also, companies with a good reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you'd like to make the switch to solar but still aren't certain which solar system installer to go with, here are our suggestions for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Richland
Factors that Affect Solar Panel Costs in Richland
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that will push your cost above or below the average in Richland: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
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 that have higher efficiency or power generation use 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 type of solar panels and equipment you want is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on 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
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are provided by most installers in Richland, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable. Though solar loans make switching to solar energy more accessible for Richland homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last significant cost factor you should consider is the installer you choose. Given the growing popularity of renewable energy solutions in Richland, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and decide on the company that provides 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 | $2.66 | $11,182 | $11,952 | 12.1 years |
| 8 kW | $2.61 | $14,623 | $16,223 | 11.9 years |
| 10 kW | $2.56 | $17,920 | $20,637 | 11.6 years |
| 12 kW | $2.51 | $21,074 | $25,195 | 11.4 years |
| 14 kW | $2.46 | $24,084 | $29,896 | 11.2 years |
| 16 kW | $2.41 | $26,952 | $34,740 | 10.9 years |
| 18 kW | $2.36 | $29,676 | $39,728 | 10.7 years |
| 20 kW | $2.30 | $32,256 | $44,859 | 10.5 years |
How to Save on Solar Panels
The solar panel company you opt for will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, including:
- Contract: Although reading through a contract can be tedious, it's important to do it fully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can research your installer's reputation is by reading reviews.
- Solar Panel Brands: Different companies will have various brands and types of panels. If you want a specific brand, make sure the solar installer you're considering has it.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Richland, OH Solar Cost FAQs
How much does it cost to install solar panels in Richland?
The average cost of solar panels in Richland is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Richland?
You can't get solar panels for free in Richland. However, you may still be able to afford 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.
Can you sell solar power back to the grid in Richland?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.
How long do solar panels last in Richland?
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 the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had 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.