Solar Panel Cost Guide in Riverside, OH (Mar 2023)
- Riverside Solar Installation Cost: $13,458
- 25-Year Savings: $11,572
- Payback Period: 13.4 Years
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Updated March 14, 2023
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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 system in Riverside is 2.56 per watt. 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 averages, and the cost of going solar for you may vary based on your specific situation and what company you go with. For many homeowners, the upfront cost of solar power is worth paying. On average homeowners in Riverside see about $13,000 in savings on utility bills over 20 years.
For a free 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 | $-12,457 |
| 3 years | $-10,454 |
| 5 years | $-8,452 |
| 7 years | $-6,449 |
| 9 years | $-4,447 |
| 11 years | $-2,445 |
| 13 years | $-442 |
| 15 years | $1,560 |
| 17 years | $3,563 |
| 19 years | $5,565 |
| 21 years | $7,567 |
| 23 years | $9,570 |
| 25 years | $11,572 |
Top Solar Installers in Riverside
Although it's possible to install solar panels yourself, it involves extra time and expertise. That's why almost all homeowners choose to hire a solar panel installer. Plus, if you aren't sure what kind of solar panels and equipment you need, a solar installer can help you figure that out after a site survey and consultation.
If you'd like to make the switch to solar but still aren't sure which solar panel company to go with, here are our recommendations for providers in Riverside:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Riverside
Factors that Affect Solar Panel Costs in Riverside
For many Riverside homeowners, the decision to adopt solar energy 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 a number of factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. There are a lot of different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Riverside homeowners decide to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increases your total costs, so it's crucial to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Riverside, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Riverside have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, 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 | $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 (coming 2022)
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 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.