Solar Panel Cost Guide in South Lebanon, OH (2024 Update)
- South Lebanon Solar Installation Cost: $17,751
- 25-Year Savings: $11,126
- Payback Period: 18.1 Years
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Average Cost of Solar Panels in South Lebanon
Find out what the average cost of installing solar panels is in South Lebanon.
In South Lebanon, solar panels cost about 3 per watt on average.To cover the typical energy usage of the average home in South Lebanon, most homeowners require a 7.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $17,751, or $25,384 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy use, the type of solar system you want, your solar contractor and more.With typical savings of about $12,000 on energy bills over 20 years, many homeowners in South Lebanon find installing solar panels has a decent ROI.
Click the button below to get connected to a reputable solar panel company in South Lebanon for a custom estimate.
Solar savings over time in South Lebanon
| Year | Return on Investment |
|---|---|
| 1 years | $-16,586 |
| 3 years | $-14,256 |
| 5 years | $-11,926 |
| 7 years | $-9,596 |
| 9 years | $-7,266 |
| 11 years | $-4,936 |
| 13 years | $-2,606 |
| 15 years | $-276 |
| 17 years | $2,054 |
| 19 years | $4,384 |
| 21 years | $6,714 |
| 23 years | $9,044 |
| 25 years | $11,374 |
Top Solar Installers in South Lebanon
Installing solar panels by yourself can be a stressful task, which is why using a solar installer is a good option for many homeowners. In addition, if you’d like to maximize your investment in solar power, going with a solar company can help with that too. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
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 South Lebanon
Factors that Affect Solar Panel Costs in South Lebanon
For many South Lebanon homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in South Lebanon, 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
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $3,410 per kilowatt in South Lebanon.The type of solar panels and equipment you want is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a solid route because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The final key cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in South Lebanon, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.The size of the company sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $4,834 | 18.9 years |
| 8 kW | $3.48 | $19,478 | $6,827 | 18.5 years |
| 10 kW | $3.41 | $23,870 | $9,011 | 18.1 years |
| 12 kW | $3.34 | $28,071 | $11,386 | 17.8 years |
| 14 kW | $3.27 | $32,081 | $13,952 | 17.4 years |
| 16 kW | $3.21 | $35,900 | $16,709 | 17.1 years |
| 18 kW | $3.14 | $39,529 | $19,657 | 16.7 years |
| 20 kW | $3.07 | $42,966 | $22,796 | 16.3 years |
How to Save on Solar Panels
The solar company you go with will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, including:
- Contract: Although reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a good company.
- 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 substantial role in the company you go with.
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 South Lebanon, OH Solar Cost FAQs
How much does it cost to install solar panels in South Lebanon?
This is a difficult question to answer exactly, because the cost depends on many 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. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in South Lebanon?
You can’t get solar panels for free in South Lebanon. However, you may still be able to get 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.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $657.62 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.