Solar Panel Cost Guide in South Lebanon, OH (2023 Update)
- South Lebanon Solar Installation Cost: $13,326
- 25-Year Savings: $11,126
- Payback Period: 13.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in South Lebanon
Let's take a look at the average cost of solar in South Lebanon.
The average cost of solar panels in South Lebanon is 2.56 per watt. Because a 7.4-kW system is needed to cover the energy consumption of a typical home in South Lebanon, the average price of going solar will be about $13,332 after claiming the federal solar tax credit of 30%.
These figures are just estimates, and your own solar costs will most likely vary based on your energy needs and what company you go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in South Lebanon can save about $12,000 on their power bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in South Lebanon that can help you get a more accurate cost estimate for your home.
Solar savings over time in South Lebanon
| Year | Return on Investment |
|---|---|
| 1 years | $-13,244 |
| 3 years | $-13,081 |
| 5 years | $-12,918 |
| 7 years | $-12,755 |
| 9 years | $-12,592 |
| 11 years | $-12,429 |
| 13 years | $-12,266 |
| 15 years | $-12,103 |
| 17 years | $-11,940 |
| 19 years | $-11,777 |
| 21 years | $-11,614 |
| 23 years | $-11,451 |
| 25 years | $-11,288 |
Top Solar Installers in South Lebanon
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar panel installer can make switching to solar power much easier. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and component replacements.
If you're searching for a solar company in South Lebanon, 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
See all of the solar companies in South Lebanon
Factors that Affect Solar Panel Costs in South Lebanon
There are many criteria that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the cost of solar panels in South Lebanon, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by about $2,560 for each additional kilowatt you need. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your power bills. In addition, add-on products, such as solar batteries, can bring your total well above the South Lebanon average.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a popular choice because they lower 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 total costs, so it's important to keep that in mind as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The remaining major cost factor you should take into consideration 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. Additionally, some companies in South Lebanon are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $8,547 | 14.2 years |
| 8 kW | $2.61 | $14,623 | $11,682 | 13.9 years |
| 10 kW | $2.56 | $17,920 | $14,961 | 13.6 years |
| 12 kW | $2.51 | $21,074 | $18,384 | 13.4 years |
| 14 kW | $2.46 | $24,084 | $21,949 | 13.1 years |
| 16 kW | $2.41 | $26,952 | $25,658 | 12.8 years |
| 18 kW | $2.36 | $29,676 | $29,511 | 12.5 years |
| 20 kW | $2.30 | $32,256 | $33,506 | 12.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: The kind of solar panel you'd like plays a role in which installer you should choose, since different companies have access to different panels.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer good-quality solar panel installation and expertise.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's South Lebanon, OH Solar Cost FAQs
What is the average cost of installing solar panels in South Lebanon?
This is a tough question to answer precisely, 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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in South Lebanon?
You can't get solar panels for free in South Lebanon. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
How much can I save on energy bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in South Lebanon, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.