Solar Panel Cost Guide in Silvercreek, OH (2024 Update)
- Silvercreek Solar Installation Cost: $17,757
- 25-Year Savings: $9,146
- Payback Period: 19.8 Years
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Average Cost of Solar Panels in Silvercreek
Here’s how much it might cost to make the switch to solar in Silvercreek.
The national average cost of solar panels is $2.66 per watt, but in Silvercreek it’s 3 per watt.The average solar panel system size in Silvercreek is around 7.4 kilowatts, meaning a cost of about $17,757 for a solar installation, or $25,393 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of making the switch to solar can vary quite a bit based on a few factors, such as what size system you need, your energy usage and what installation company you go with.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $11,000 over 20 years on electricity bills.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Silvercreek
| Year | Return on Investment |
|---|---|
| 1 years | $-16,739 |
| 3 years | $-14,702 |
| 5 years | $-12,665 |
| 7 years | $-10,629 |
| 9 years | $-8,592 |
| 11 years | $-6,556 |
| 13 years | $-4,519 |
| 15 years | $-2,482 |
| 17 years | $-446 |
| 19 years | $1,591 |
| 21 years | $3,627 |
| 23 years | $5,664 |
| 25 years | $7,700 |
Top Solar Installers in Silvercreek
Although you can install solar panels on your own, it involves extra time and know-how. That's one of the reasons most homeowners choose a solar panel installer. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over the lifespan of your panels.
If you're looking for a solar installer in Silvercreek, 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 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 Silvercreek
Factors that Affect Solar Panel Costs in Silvercreek
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in Silvercreek: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,410. The model of solar panels and equipment you get is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Moreover, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions 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 looking into a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a solid route because they cut back 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 adds to your overall costs, so it’s vital to take that into consideration as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can affect your pricing. Silvercreek’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $3,234 | 20.5 years |
| 8 kW | $3.48 | $19,478 | $4,694 | 20.1 years |
| 10 kW | $3.41 | $23,870 | $6,344 | 19.8 years |
| 12 kW | $3.34 | $28,071 | $8,186 | 19.4 years |
| 14 kW | $3.27 | $32,081 | $10,219 | 19.0 years |
| 16 kW | $3.21 | $35,900 | $12,442 | 18.6 years |
| 18 kW | $3.14 | $39,529 | $14,857 | 18.2 years |
| 20 kW | $3.07 | $42,966 | $17,463 | 17.8 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Different companies will have different brands and types of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Silvercreek, OH Solar Cost FAQs
What is the average cost of installing solar panels in Silvercreek?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Silvercreek?
Solar panels aren’t free in Silvercreek, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can you sell solar power back to the grid in Silvercreek?
Most states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out 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 household 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.