Solar Panel Cost Guide in Russell, OH (2023 Update)
- Russell Solar Installation Cost: $13,942
- 25-Year Savings: $13,438
- Payback Period: 12.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Russell
We go over average solar pricing in Russell.
The average cost of a solar system in Russell is 2.56 per watt. The average solar panel system size in Russell is around 7.8 kilowatts, meaning a cost of about $13,942 for a solar installation, or $19,937 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of making the switch to solar can vary depending on multiple factors, such as what size system you need, your energy usage and what company you go with. With typical savings of about $13,000 on electricity bills over 20 years, many homeowners in Russell find going solar can pay off big.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Russell
| Year | Return on Investment |
|---|---|
| 1 years | $-12,847 |
| 3 years | $-10,656 |
| 5 years | $-8,466 |
| 7 years | $-6,275 |
| 9 years | $-4,085 |
| 11 years | $-1,895 |
| 13 years | $296 |
| 15 years | $2,486 |
| 17 years | $4,677 |
| 19 years | $6,867 |
| 21 years | $9,057 |
| 23 years | $11,248 |
| 25 years | $13,438 |
Top Solar Installers in Russell
Trying to put up solar panels on your own can be a dangerous project, which is why using a solar installation company is a good option for many homeowners. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you're looking for a solar installer in Russell, the EcoWatch team has compiled 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 Russell
Factors that Affect Solar Panel Costs in Russell
For many Russell homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Russell, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation use 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. There are a lot of different solar panel brands and the one you choose also changes the cost. Typically, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Russell homeowners decide to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also increases your total costs, so it's vital to consider that as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Russell, and each can charge different amounts for labor and equipment. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $9,933 | 13.2 years |
| 8 kW | $2.61 | $14,623 | $13,531 | 13.0 years |
| 10 kW | $2.56 | $17,920 | $17,272 | 12.7 years |
| 12 kW | $2.51 | $21,074 | $21,157 | 12.5 years |
| 14 kW | $2.46 | $24,084 | $25,185 | 12.2 years |
| 16 kW | $2.41 | $26,952 | $29,356 | 12.0 years |
| 18 kW | $2.36 | $29,676 | $33,670 | 11.7 years |
| 20 kW | $2.30 | $32,256 | $38,128 | 11.5 years |
How to Save on Solar Panels
The solar installer you opt for will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, such as:
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Contract: When looking over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
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 Russell, OH Solar Cost FAQs
What is the average cost of installing solar panels in Russell?
The average cost of solar panels in Russell 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 stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Russell?
You can't get solar panels for free in Russell. 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.
Does Russell have a net metering program?
Most states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production 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.