Solar Panel Cost Guide in Tate, OH (2023 Update)
- Tate Solar Installation Cost: $13,202
- 25-Year Savings: $12,146
- Payback Period: 13.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Tate
Let's have a look at the average cost of solar panels in Tate.
The national average cost of solar panels is $2.66 per watt, but in Tate it's 2.56 per watt. The average solar panel system size in Tate is around 7.4 kilowatts, meaning a cost of about $13,207 for a solar installation, or $18,886 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of installing solar panels can vary quite a bit based on several factors, such as how many panels you need, your energy consumption and what installation company you go with. Many homeowners find going solar is a fruitful investment. The average homeowner in Tate can save about $13,000 on their power bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Tate
| 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 Tate
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Going with an installer can make swapping over to solar power much easier. Plus, if you're not certain what kind of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some in Tate:
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 Tate
Factors that Affect Solar Panel Costs in Tate
For many Tate homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Tate, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The kind of solar panels and equipment you get is another factor that will greatly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to consider 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
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Tate homeowners decide to finance their solar panel systems to make paying for solar more affordable. Although solar loans make adopting solar energy more accessible for Tate homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you choose will impact your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $9,462 | 13.5 years |
| 8 kW | $2.61 | $14,623 | $12,903 | 13.3 years |
| 10 kW | $2.56 | $17,920 | $16,487 | 13.0 years |
| 12 kW | $2.51 | $21,074 | $20,214 | 12.8 years |
| 14 kW | $2.46 | $24,084 | $24,085 | 12.5 years |
| 16 kW | $2.41 | $26,952 | $28,099 | 12.2 years |
| 18 kW | $2.36 | $29,676 | $32,257 | 12.0 years |
| 20 kW | $2.30 | $32,256 | $36,557 | 11.7 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project timeline.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Tate, OH Solar Cost FAQs
How much does it cost to install solar panels in Tate?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally 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 other 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.
Is it better to lease or buy solar panels in Tate?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Does Tate have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can get paid 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 should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.