Solar Panel Cost Guide in Smith, OH (2023 Update)
- Smith Solar Installation Cost: $14,058
- 25-Year Savings: $12,710
- Payback Period: 13.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Smith
Here's how much it might cost to install solar panels in Smith.
In Smith, solar panels cost about 2.56 per watt on average. The average solar panel system size in Smith is around 7.8 kilowatts, meaning a cost of about $14,049 for a solar installation, or $20,090 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of equipment you choose, your solar contractor and more. For most homeowners, the upfront investment in solar power is worth paying. On average Smith homeowners see about $13,000 in savings on utility bills over 20 years.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Smith
| Year | Return on Investment |
|---|---|
| 1 years | $-12,838 |
| 3 years | $-10,397 |
| 5 years | $-7,957 |
| 7 years | $-5,516 |
| 9 years | $-3,076 |
| 11 years | $-636 |
| 13 years | $1,805 |
| 15 years | $4,245 |
| 17 years | $6,686 |
| 19 years | $9,126 |
| 21 years | $11,567 |
| 23 years | $14,007 |
| 25 years | $16,448 |
Top Solar Installers in Smith
When going solar, many homeowners choose to hire a solar installer since installing a solar system yourself can be a challenging project. Another perk of working with a solar installer is that they can help you make the most of your return of investment by lowering your future costs of repairs and replacements with the help of warranties and helping you learn about local incentives you can take advantage of.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Smith
Factors that Affect Solar Panel Costs in Smith
For many Smith homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Smith, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $2,560 per kilowatt in Smith. There are many different solar panel brands and the one you pick also changes the cost. Usually, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far 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
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.