Solar Panel Cost Guide in Springboro, OH (2023 Update)
- Springboro Solar Installation Cost: $13,386
- 25-Year Savings: $9,946
- Payback Period: 14.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Springboro
We break down average solar pricing in Springboro.
The national average cost of solar panels is $2.66 per watt, but in Springboro it's 2.56 per watt. Because a 7.5-kW system is needed to cover the energy costs of a typical home in Springboro, the average price of going solar will be about $13,386 after claiming the federal solar tax credit of 30%.
These figures are only averages, and your own solar costs will most likely differ based on the amount of energy your home requires and what company you go with. Even with the large initial cost, the average Springboro homeowner can save around $12,000 on their energy bills over 20 years, which is one of the perks of solar.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Springboro
| Year | Return on Investment |
|---|---|
| 1 years | $-12,453 |
| 3 years | $-10,586 |
| 5 years | $-8,720 |
| 7 years | $-6,853 |
| 9 years | $-4,987 |
| 11 years | $-3,120 |
| 13 years | $-1,253 |
| 15 years | $613 |
| 17 years | $2,480 |
| 19 years | $4,346 |
| 21 years | $6,213 |
| 23 years | $8,080 |
| 25 years | $9,946 |
Top Solar Installers in Springboro
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Hiring a solar panel installer can make swapping over to solar power much easier. Companies can also provide access to a large variety of the best solar panels and help you choose which one will be best for your family.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Springboro
Factors that Affect Solar Panel Costs in Springboro
There are many criteria that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,560. The brand of solar panels and equipment you want is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment is more than 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 falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Springboro to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you get to install your solar panels can play a role in determining how much it costs. Springboro's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $7,557 | 14.9 years |
| 8 kW | $2.61 | $14,623 | $10,363 | 14.6 years |
| 10 kW | $2.56 | $17,920 | $13,312 | 14.3 years |
| 12 kW | $2.51 | $21,074 | $16,405 | 14.1 years |
| 14 kW | $2.46 | $24,084 | $19,641 | 13.8 years |
| 16 kW | $2.41 | $26,952 | $23,020 | 13.5 years |
| 18 kW | $2.36 | $29,676 | $26,543 | 13.2 years |
| 20 kW | $2.30 | $32,256 | $30,209 | 12.9 years |
How to Save on Solar Panels
There are numerous companies available in Springboro, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: When making the switch to solar energy, it's important to maintain an open line of communication with your solar panel company. Confirm that you understand how the installation process works and the completion timeline.
- Contract: When looking over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Solar Panel Brands: Different companies offer different brands and types of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases provide high-quality solar panel installation and expertise.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Springboro, OH Solar Cost FAQs
What is the average cost of installing solar panels in Springboro?
This is a hard question to answer exactly, because the cost depends on a variety of 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Springboro?
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 utility 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?
To figure out what solar panel system size 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 typically produce about 250 to 400 watt-hours per hour, the average house 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.