Solar Panel Cost Guide in Smith, OH (Jan 2023)
- Smith Solar Installation Cost: $14,049
- 25-Year Savings: $12,718
- Payback Period: 13.1 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Smith
Let's have a look at the average cost of solar panels in Smith.
Although the national average of solar panels is $2.66 per watt, solar panels in Smith typically cost around $3. Since a 7.8-kW system is needed to cover the energy consumption of a typical home in Smith, the average price of going solar will be about $14,049 before claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average Smith homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. But, once you've paid the initial cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $13,000 over 20 years on utility bills.
Click the button below to get connected to a reputable solar installer in Smith for a custom quote.
Solar savings over time in Smith
| Year | Return on Investment |
|---|---|
| 1 years | $-12,979 |
| 3 years | $-10,837 |
| 5 years | $-8,696 |
| 7 years | $-6,554 |
| 9 years | $-4,413 |
| 11 years | $-2,271 |
| 13 years | $-130 |
| 15 years | $2,011 |
| 17 years | $4,153 |
| 19 years | $6,294 |
| 21 years | $8,436 |
| 23 years | $10,577 |
| 25 years | $12,718 |
Top Solar Installers in Smith
Although you can install solar panels by yourself, it takes extra time and know-how. For that reason, almost all homeowners choose to hire a solar panel installer. Local solar companies can also help you optimize your return on investment by walking you through any local incentives and by offering warranties and repairs.
If you're on the hunt for a solar company in Smith, we've put together 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 (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 Smith
Factors that Affect Solar Panel Costs in Smith
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that will push your cost above or below the average in Smith: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,560. There are many different solar panel brands and the one you choose also changes the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you're looking to get 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
Most solar installers in Smith offer solar loans, which reduce your upfront costs of installing solar. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Smith is the company you get to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that offer a range of services for different budgets. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and go with the company that has the products, warranties and services you want and also fits within your budget.
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 | $9,291 | 13.7 years |
| 8 kW | $2.61 | $14,623 | $12,674 | 13.4 years |
| 10 kW | $2.56 | $17,920 | $16,201 | 13.1 years |
| 12 kW | $2.51 | $21,074 | $19,871 | 12.9 years |
| 14 kW | $2.46 | $24,084 | $23,685 | 12.6 years |
| 16 kW | $2.41 | $26,952 | $27,642 | 12.3 years |
| 18 kW | $2.36 | $29,676 | $31,742 | 12.1 years |
| 20 kW | $2.30 | $32,256 | $35,986 | 11.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The model of solar panel you need to install plays a part in which company you should choose, since different companies offer different panels.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Reputation: Make sure your solar installer 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.
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 Smith, OH Solar Cost FAQs
What is the average cost of installing solar panels in Smith?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $12,800 for a 5-kW system and $25,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Is going solar worth it?
Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out how many solar panels 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 home 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.