Solar Panel Cost Guide in Riverside, OH (2024 Update)
- Riverside Solar Installation Cost: $17,915
- 25-Year Savings: $11,581
- Payback Period: 17.9 Years
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Average Cost of Solar Panels in Riverside
Find out how much it might cost to make the switch to solar in Riverside.
The average cost of a solar panel system in Riverside is 3 per watt.Because a 7.5-kW system is needed to cover the energy consumption of a typical home in Riverside, the average price of going solar will be about $17,915 after claiming the federal solar tax credit of 0.
These figures are only estimates, and how much solar costs for you will most likely look different based on your specific situation and what company you choose to go with.For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $13,000 in savings on electricity bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Riverside
| Year | Return on Investment |
|---|---|
| 1 years | $-16,897 |
| 3 years | $-14,860 |
| 5 years | $-12,823 |
| 7 years | $-10,787 |
| 9 years | $-8,750 |
| 11 years | $-6,714 |
| 13 years | $-4,677 |
| 15 years | $-2,640 |
| 17 years | $-604 |
| 19 years | $1,433 |
| 21 years | $3,469 |
| 23 years | $5,506 |
| 25 years | $7,543 |
Top Solar Installers in Riverside
Many homeowners opt for a solar panel company since figuring out how to install solar panels on your own can be time-consuming. Because solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
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 nearby:
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
For many Riverside homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Riverside, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are an affordable option because they decrease your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also increases your all-in costs, so it’s crucial to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installer you choose will impact your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor.The company’s size sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to greater 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 promotion can bring their pricing down 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 | $5,115 | 18.6 years |
| 8 kW | $3.48 | $19,478 | $7,203 | 18.3 years |
| 10 kW | $3.41 | $23,870 | $9,481 | 17.9 years |
| 12 kW | $3.34 | $28,071 | $11,950 | 17.5 years |
| 14 kW | $3.27 | $32,081 | $14,610 | 17.2 years |
| 16 kW | $3.21 | $35,900 | $17,460 | 16.8 years |
| 18 kW | $3.14 | $39,529 | $20,502 | 16.5 years |
| 20 kW | $3.07 | $42,966 | $23,735 | 16.1 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose greatly affects your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: Different companies will offer various brands and models of panels. If you want a specific brand, make sure the solar company you’re considering has it.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
- Contract: Review the contract terms thoroughly to make sure you understand how much it will cost, completion timeline incentives and warranties.
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
How much does it cost to install solar panels in Riverside?
The average cost of solar panels in Riverside 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 things like the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
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 the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $667.01 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much 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 account for 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.