Solar Panel Cost Guide in Springfield, OH (2023 Update)
- Springfield Solar Installation Cost: $13,348
- 25-Year Savings: $12,429
- Payback Period: 12.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Springfield
Here's how much it might cost to go solar in Springfield.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Springfield, the average cost of a solar system is 2.56 per watt. To account for the typical energy needs of the average home in Springfield, most homeowners require a 7.5-kilowatt system. Using the figure above, a solar installation costs about $13,350, or $19,090 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy consumption, the type of equipment you choose, your solar contractor and more. Even with the large upfront cost, the average Springfield homeowner can save around $13,000 on their energy bills over 20 years, which is one of the benefits of solar.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Springfield
| Year | Return on Investment |
|---|---|
| 1 years | $-12,162 |
| 3 years | $-9,788 |
| 5 years | $-7,415 |
| 7 years | $-5,042 |
| 9 years | $-2,669 |
| 11 years | $-296 |
| 13 years | $2,077 |
| 15 years | $4,450 |
| 17 years | $6,824 |
| 19 years | $9,197 |
| 21 years | $11,570 |
| 23 years | $13,943 |
| 25 years | $16,316 |
Top Solar Installers in Springfield
When making the switch to solar, many homeowners prefer to go with a solar company since DIY solar panel installation can be a challenging project. Some solar companies, particularly local ones, can help you take advantage of incentives in Springfield, optimizing your ROI.
If you'd like to switch to solar energy but still aren't sure which solar panel company to go with, here are our recommendations for providers near you:
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 Springfield
Factors that Affect Solar Panel Costs in Springfield
There are many criteria that can play into your solar panel 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
When it comes to estimating the price of a solar energy system in Springfield, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can gauge by looking at past energy bills. Your total cost can increase by about $2,560 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you choose also changes the cost. Generally, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you want to install 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 a solar system out of pocket is difficult, solar loans are a solid route because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. Even though solar loans make adopting solar energy more accessible for Springfield homeowners, they can also add to 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
The solar installer you select will impact your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. The company's size sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion 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 | $2.66 | $11,182 | $9,581 | 13.5 years |
| 8 kW | $2.61 | $14,623 | $13,062 | 13.2 years |
| 10 kW | $2.56 | $17,920 | $16,686 | 12.9 years |
| 12 kW | $2.51 | $21,074 | $20,453 | 12.7 years |
| 14 kW | $2.46 | $24,084 | $24,364 | 12.4 years |
| 16 kW | $2.41 | $26,952 | $28,418 | 12.2 years |
| 18 kW | $2.36 | $29,676 | $32,615 | 11.9 years |
| 20 kW | $2.30 | $32,256 | $36,956 | 11.7 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Springfield, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Springfield, OH Solar Cost FAQs
What is the average cost of installing solar panels in Springfield?
The average cost of solar panels in Springfield is about $12,800 for a 5-kW system and $25,600 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 use.
Can you get solar panels for free in Springfield?
A solar panel system isn't free in Springfield, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $692.12 per year.
How long do solar panels last in Springfield?
On average, solar panels can last 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 amount 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.