Solar Panel Cost Guide in Springboro, OH (2024 Update)
- Springboro Solar Installation Cost: $17,832
- 25-Year Savings: $11,292
- Payback Period: 19.1 Years
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Average Cost of Solar Panels in Springboro
See how much it might cost to install solar panels in Springboro.
Although the national average of solar panels is $2.66 per watt, solar panels in Springboro typically cost about 3.Using this figure, a typical 7.5-kW system would cost about $17,832 before the 0 federal solar tax credit is applied.
These figures are just estimates, and how much solar costs for you will most likely vary based on your energy needs and what company you choose to go with.Many homeowners find installing a solar system is a solid investment. The average homeowner in Springboro can save around $12,000 on their electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Springboro that can help you get a more accurate cost estimate for your home.
Solar savings over time in Springboro
| Year | Return on Investment |
|---|---|
| 1 years | $-16,667 |
| 3 years | $-14,337 |
| 5 years | $-12,007 |
| 7 years | $-9,677 |
| 9 years | $-7,347 |
| 11 years | $-5,018 |
| 13 years | $-2,688 |
| 15 years | $-358 |
| 17 years | $1,972 |
| 19 years | $4,302 |
| 21 years | $6,632 |
| 23 years | $8,962 |
| 25 years | $11,292 |
Top Solar Installers in Springboro
When making the switch to solar, many homeowners choose to hire a solar installer since overseeing your solar installation yourself can be a challenging project. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Springboro
Factors that Affect Solar Panel Costs in Springboro
There are a number of criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
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 power your household consumes, the larger your system will likely need to be. You can expect to spend around $3,410 per kilowatt in Springboro.There are a lot of different solar panel brands and the one you pick also affects the cost. Typically, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a popular choice because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.Although solar loans make adopting solar energy more accessible for Springboro homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Springboro 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.Companies that only sell products with high efficiency and therefore a higher price point — 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 decide on the company that offers the products, warranties and services you want and also fit into 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 | $3.55 | $14,895 | $3,845 | 19.9 years |
| 8 kW | $3.48 | $19,478 | $5,508 | 19.5 years |
| 10 kW | $3.41 | $23,870 | $7,362 | 19.1 years |
| 12 kW | $3.34 | $28,071 | $9,408 | 18.7 years |
| 14 kW | $3.27 | $32,081 | $11,644 | 18.3 years |
| 16 kW | $3.21 | $35,900 | $14,071 | 18.0 years |
| 18 kW | $3.14 | $39,529 | $16,689 | 17.6 years |
| 20 kW | $3.07 | $42,966 | $19,499 | 17.2 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 find the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Contract: It’s important to read your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one sign of a quality company.
- Installation Process: Make sure you’re aligned with the company in regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Springboro, OH Solar Cost FAQs
How much does it cost to install solar panels in Springboro?
The average cost of solar panels in Springboro is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Springboro?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Can solar panels completely eradicate my electricity bills?
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 $624.65 per year.
How long do solar panels last in Springboro?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.