Solar Panel Cost Guide in Springfield, OH (Dec 2022)

  • Springfield Solar Installation Cost: $13,350
  • 25-Year Savings: $12,427
  • Payback Period: 12.9 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Springfield

Find out how much it might cost to make the switch to 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 $3 per watt. The average solar panel system size in Springfield is around 7.5 kilowatts, meaning a cost of about $13,350 for a solar installation, or $9,879 after the 30% federal solar tax credit is applied.

These figures are just estimates, and your own solar costs will vary based on your energy needs and what company you choose to go with. Despite the high initial cost, the average Springfield homeowner can save around $13,000 on their electricity bills over 20 years, which is one of the benefits of solar.

Click the button below to get connected to a top solar company in your area for a customized estimate.

Solar savings over time in Springfield

Year Return on Investment
1 years $-12,319
3 years $-10,257
5 years $-8,195
7 years $-6,133
9 years $-4,071
11 years $-2,008
13 years $54
15 years $2,116
17 years $4,178
19 years $6,240
21 years $8,302
23 years $10,365
25 years $12,427

Top Solar Installers in Springfield

Although you can install solar panels yourself, it requires extra time and expertise. That's one of the reasons almost all homeowners choose to hire a solar panel installer. In addition, if you'd like to maximize your investment in solar, opting for a solar company can help with that too. Different providers can offer repairs, expertise on solar panel installation and sometimes even information on local incentives.

If you're on the hunt for a solar installer in Springfield, we've put together a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Springfield

Factors that Affect Solar Panel Costs in Springfield

Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in Springfield: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.

Solar Equipment

The size of the solar panel system you need for your home is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,560. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Springfield, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Springfield to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to paying more over time because of interest. When considering your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.

Solar Panel Installation Company

A final consideration when trying to figure out the cost of solar for your home or business in Springfield is the company you get to install your solar system. As with choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services for different budgets. Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 $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

The solar company you choose will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, including:

  • Solar Panel Brands: Different companies will have various brands and types of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
  • Contract: When looking through 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: If you're concerned about the endurance of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Springfield, OH Solar Cost FAQs

How much does it cost to install 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 real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Springfield?

Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The downside 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 way to go if you want to get the most savings.

How will having solar panels impact my home value?

Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Springfield is currently $110,566, which means you can look forward to a value of about $4,533 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Springfield is a rewarding investment.

How long do solar panels last in Springfield?

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 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.

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