Solar Panel Cost Guide in Riverside, OH (2023 Update)
- Riverside Solar Installation Cost: $13,449
- 25-Year Savings: $11,581
- Payback Period: 13.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Riverside
Let's take a look at the average cost of solar in Riverside.
In Riverside, solar panels cost about 2.56 per watt on average. The average Riverside homeowner needs a 7.5-kilowatt system, which would cost about $13,458 with the federal tax credit, or $19,245 before the 30% tax credit is applied.
These figures are just estimates, and the cost of going solar for you will look different based on your specific situation and what company you want to go with. Many homeowners find going solar is a rewarding investment. The average homeowner in Riverside can save about $13,000 on their energy bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Riverside
| Year | Return on Investment |
|---|---|
| 1 years | $-12,431 |
| 3 years | $-10,394 |
| 5 years | $-8,358 |
| 7 years | $-6,321 |
| 9 years | $-4,285 |
| 11 years | $-2,248 |
| 13 years | $-211 |
| 15 years | $1,825 |
| 17 years | $3,862 |
| 19 years | $5,898 |
| 21 years | $7,935 |
| 23 years | $9,972 |
| 25 years | $12,008 |
Top Solar Installers in Riverside
Many homeowners decide to hire a solar installer since trying to put up solar panels yourself can be a lot of work. Companies can also offer access to quality options of the best solar panels and help you pick which one will be best for your home.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Riverside
Factors that Affect Solar Panel Costs in Riverside
The cost of installing a solar system in Riverside can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Riverside, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many Riverside homeowners decide to finance their solar panel systems to make paying for solar more affordable. Although solar loans make going solar more accessible for Riverside homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Riverside, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. 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 because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $8,828 | 14.0 years |
| 8 kW | $2.61 | $14,623 | $12,058 | 13.7 years |
| 10 kW | $2.56 | $17,920 | $15,431 | 13.4 years |
| 12 kW | $2.51 | $21,074 | $18,947 | 13.2 years |
| 14 kW | $2.46 | $24,084 | $22,606 | 12.9 years |
| 16 kW | $2.41 | $26,952 | $26,409 | 12.6 years |
| 18 kW | $2.36 | $29,676 | $30,356 | 12.4 years |
| 20 kW | $2.30 | $32,256 | $34,445 | 12.1 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. Because picking a company can be difficult, we have some tips to help you, such as:
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: The model of solar panel you want to install plays a role in which company you should go with, since different companies provide different panels.
- Contract: It's important to read through your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Riverside, OH Solar Cost FAQs
What is the average cost of installing solar panels in Riverside?
The average cost of solar panels in Riverside is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Riverside?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to 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 savings from going solar.
Can you sell solar power back to the grid in Riverside?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a 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.