Solar Panel Cost Guide in South Lebanon, OH (Feb 2023)
- South Lebanon Solar Installation Cost: $13,332
- 25-Year Savings: $11,119
- Payback Period: 13.6 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in South Lebanon
Find out how much it might cost to make the switch to solar in South Lebanon.
Currently, the national average cost of solar panels is $2.66 per watt. However, in South Lebanon, the average cost of a solar system is $3 per watt. Using this figure, a typical 7.4 would cost about $13,332 before the 30% federal solar tax credit is applied.
These figures are just averages, and the cost of going solar for you will most likely look different based on your specific situation and what company you choose to go with. But, once you've paid the initial cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $12,000 over 20 years on energy bills.
Click the button below to get connected to a vetted solar company in South Lebanon for a personalized quote.
Solar savings over time in South Lebanon
| Year | Return on Investment |
|---|---|
| 1 years | $-12,354 |
| 3 years | $-10,398 |
| 5 years | $-8,442 |
| 7 years | $-6,486 |
| 9 years | $-4,530 |
| 11 years | $-2,574 |
| 13 years | $-618 |
| 15 years | $1,339 |
| 17 years | $3,295 |
| 19 years | $5,251 |
| 21 years | $7,207 |
| 23 years | $9,163 |
| 25 years | $11,119 |
Top Solar Installers in South Lebanon
Although you can install solar panels on your own, it takes extra labor and expertise. That's one of the reasons most homeowners choose to go with a solar panel installer. Companies can also have access to a large variety of the best solar panels and help you choose which one will be right for you.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
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 South Lebanon
Factors that Affect Solar Panel Costs in South Lebanon
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that determine your overall cost in South Lebanon: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. The kind of 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. However, higher efficiency could save you more in the long run on your electric bills. In addition, add-on products, like solar batteries, can bump up your total well above the South Lebanon average.
Solar Financing Terms
Many homeowners find the average cost of solar in South Lebanon to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to higher prices over time because of interest. 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 getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can affect the cost. South Lebanon's solar companies all have different labor costs and add varying upcharges to equipment. The company's size can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and better 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 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 | $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 large number of companies to choose from in South Lebanon, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Installation Process: When going solar, it's crucial to maintain an open line of communication with your solar company. See to it that you understand how the installation process works and the project completion timeline.
- Contract: Before signing a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
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 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. Generally 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
What other factors should I consider other than cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Can you sell solar power back to the grid in South Lebanon?
Most states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
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 take a 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.