Solar Panel Cost Guide in Summerside, OH (2023 Update)
- Summerside Solar Installation Cost: $13,202
- 25-Year Savings: $10,987
- Payback Period: 13.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Summerside
Find out what the average cost of solar panel installation is in Summerside.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Summerside, the typical cost of a solar system is 2.56 per watt. To cover the typical energy needs of the average home in Summerside, most homeowners require a 7.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $13,207, or $18,886 before the federal solar tax credit of 30% is applied.
Keep in mind that the figures above are only estimates based on the average Summerside homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Despite the large upfront cost, the average Summerside homeowner can save around $12,000 on their electricity bills over 20 years, which is one of the perks of solar.
To get a free quote from a vetted solar company in Summerside, you can click the button below.
Solar savings over time in Summerside
| Year | Return on Investment |
|---|---|
| 1 years | $-12,037 |
| 3 years | $-9,707 |
| 5 years | $-7,377 |
| 7 years | $-5,047 |
| 9 years | $-2,717 |
| 11 years | $-387 |
| 13 years | $1,943 |
| 15 years | $4,273 |
| 17 years | $6,603 |
| 19 years | $8,933 |
| 21 years | $11,263 |
| 23 years | $13,593 |
| 25 years | $15,923 |
Top Solar Installers in Summerside
When going solar, many homeowners decide to use a solar company since putting up a solar system yourself can be a time-consuming project. Local solar installation companies can also help you maximize your return on investment by walking you through any local incentives and by offering warranties and repairs.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Summerside
Factors that Affect Solar Panel Costs in Summerside
The cost of installing a solar system in Summerside can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Summerside, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can figure out by looking at past electricity bills. Your total cost can increase by around $2,560 for each additional kilowatt you need. The kind of solar panels and equipment you choose is another factor that will greatly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to think about 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's in your budget.
Solar Financing Terms
Most solar installers in Summerside offer solar loans, which reduce the initial cost of installing solar panels. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you choose will play a role in your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that has the products, warranties and services you're looking for 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 | $2.66 | $11,182 | $8,518 | 14.2 years |
| 8 kW | $2.61 | $14,623 | $11,644 | 13.9 years |
| 10 kW | $2.56 | $17,920 | $14,914 | 13.6 years |
| 12 kW | $2.51 | $21,074 | $18,326 | 13.4 years |
| 14 kW | $2.46 | $24,084 | $21,883 | 13.1 years |
| 16 kW | $2.41 | $26,952 | $25,582 | 12.8 years |
| 18 kW | $2.36 | $29,676 | $29,425 | 12.6 years |
| 20 kW | $2.30 | $32,256 | $33,411 | 12.3 years |
How to Save on Solar Panels
The solar panel company you go with will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, such as:
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Review the contract terms carefully to make sure you understand the total cost, completion timeline incentives and warranties.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Summerside, OH Solar Cost FAQs
What is the average cost of installing solar panels in Summerside?
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 above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels significantly reduce my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $656.67 per year.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.