Solar Panel Cost Guide in Richville, OH (2023 Update)
- Richville Solar Installation Cost: $13,942
- 25-Year Savings: $13,322
- Payback Period: 12.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Richville
Find out what the average cost of installing solar panels is in Richville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Richville, the average cost of a solar system is 2.56 per watt. Since a 7.8-kW system is needed to cover the energy usage of a typical home in Richville, the average price of going solar will be about $13,942 after claiming the federal solar tax credit of 30%.
The true price you pay can be above or below the average in Richville based on a variety of factors, such as the type of solar panels you choose and the solar installer you hire. Despite the significant initial cost, the average Richville homeowner can save about $13,000 on their power bills over 20 years, which is one of the positives of solar.
To get a free estimate from a vetted solar installation company in Richville, you can click the button below.
Solar savings over time in Richville
| Year | Return on Investment |
|---|---|
| 1 years | $-12,851 |
| 3 years | $-10,670 |
| 5 years | $-8,489 |
| 7 years | $-6,308 |
| 9 years | $-4,127 |
| 11 years | $-1,946 |
| 13 years | $235 |
| 15 years | $2,416 |
| 17 years | $4,597 |
| 19 years | $6,778 |
| 21 years | $8,960 |
| 23 years | $11,141 |
| 25 years | $13,322 |
Top Solar Installers in Richville
When going solar, many homeowners prefer to go with a solar installer since DIY solar panel installation can be a challenging project. Companies can also provide access to quality options of the best solar panels and help you choose which one will be right for you.
If you're on the hunt for a solar company in Richville, the EcoWatch team has put together a list of our top suggestions here:
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 Richville
Factors that Affect Solar Panel Costs in Richville
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Richville: 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 panel systems varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,560. The brand of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to think about 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 falls within your budget.
Solar Financing Terms
Most solar companies in Richville offer solar loans, which reduce your upfront costs of installing a solar system. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Richville is the company you get to install your PV system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that offer a range of services at different costs. The size of the company sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to more 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 discount 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 | $2.66 | $11,182 | $9,852 | 13.3 years |
| 8 kW | $2.61 | $14,623 | $13,423 | 13.0 years |
| 10 kW | $2.56 | $17,920 | $17,137 | 12.8 years |
| 12 kW | $2.51 | $21,074 | $20,995 | 12.5 years |
| 14 kW | $2.46 | $24,084 | $24,996 | 12.3 years |
| 16 kW | $2.41 | $26,952 | $29,140 | 12.0 years |
| 18 kW | $2.36 | $29,676 | $33,428 | 11.8 years |
| 20 kW | $2.30 | $32,256 | $37,858 | 11.5 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Before signing a contract with a solar company, be sure to read it through carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
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 Richville, OH Solar Cost FAQs
How much does it cost to install solar panels in Richville?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $12,800 for a 5-kW system and $25,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Are solar panels free in Richville?
You can't get solar panels for free in Richville. 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 prefer to own your solar panels, you can finance them with a solar loan.
How much can I save on power bills after switching to solar?
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 $701.14 per year.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.