Solar Panel Cost Guide in Smith, OH (2024 Update)
- Smith Solar Installation Cost: $18,726
- 25-Year Savings: $12,710
- Payback Period: 17.5 Years
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Average Cost of Solar Panels in Smith
Find out what the average cost of solar panel installation is in Smith.
The average cost of solar panels in Smith is 3 per watt.The average Smith homeowner needs a 7.8-kilowatt system, which would cost about $18,726 with the federal tax credit, or $26,778 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary quite a bit depending on several factors, such as how many panels you need, your energy usage and what installation company you go with.Even with the large upfront cost, the average Smith homeowner can save around $13,000 on their electricity bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a highly rated solar installer in your area for a personalized quote.
Solar savings over time in Smith
| Year | Return on Investment |
|---|---|
| 1 years | $-17,506 |
| 3 years | $-15,065 |
| 5 years | $-12,625 |
| 7 years | $-10,184 |
| 9 years | $-7,744 |
| 11 years | $-5,303 |
| 13 years | $-2,863 |
| 15 years | $-422 |
| 17 years | $2,018 |
| 19 years | $4,459 |
| 21 years | $6,899 |
| 23 years | $9,340 |
| 25 years | $11,780 |
Top Solar Installers in Smith
Although it's possible to install solar panels yourself, it requires extra energy and expertise. Because of that, most homeowners choose a solar panel installer. Solar warranties and repairs are usually included in the cost of installation when you opt for a solar contractor as well, which can save you more money after your initial investment.
If you're searching for a solar installer 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
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
The cost of installing a solar system in Smith can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Smith, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can gauge by looking at past power bills. Your overall cost can increase by around $3,410 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Smith, where sunlight isn’t as abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a solid option because they cut back your upfront costs and let you pay for your system over five to seven years on average.While solar loans make adopting solar energy more accessible for Smith homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Smith is the company you get to install your solar panel system. Similar to choosing a company to build a deck or pool, for instance, there’s no shortage of solar installers that offer a range of services at different costs.The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and better 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 | $5,578 | 18.2 years |
| 8 kW | $3.48 | $19,478 | $7,819 | 17.8 years |
| 10 kW | $3.41 | $23,870 | $10,251 | 17.5 years |
| 12 kW | $3.34 | $28,071 | $12,874 | 17.1 years |
| 14 kW | $3.27 | $32,081 | $15,688 | 16.8 years |
| 16 kW | $3.21 | $35,900 | $18,693 | 16.4 years |
| 18 kW | $3.14 | $39,529 | $21,889 | 16.1 years |
| 20 kW | $3.07 | $42,966 | $25,276 | 15.7 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, 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:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
- 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 you can expect about the project timeline.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
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 Smith, OH Solar Cost FAQs
What is the average cost of installing solar panels in Smith?
The average cost of solar panels in Smith 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Smith?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property 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 bang for your buck from going solar.
Is going solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
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 are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use 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.