Solar Panel Cost Guide in Thorn, OH (2024 Update)
- Thorn Solar Installation Cost: $17,961
- 25-Year Savings: $16,877
- Payback Period: 14.8 Years
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Average Cost of Solar Panels in Thorn
Let’s have a look at the average cost of solar panels in Thorn.
In Thorn, solar panels cost about 3 per watt on average.To cover the typical energy usage of the average home in Thorn, most homeowners require a 7.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $17,961, or $25,684 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of going solar can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what company you go with.Even with the significant upfront cost, the average Thorn homeowner can save around $15,000 on their power bills over 20 years, which is one of the advantages of solar.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Thorn
| Year | Return on Investment |
|---|---|
| 1 years | $-16,629 |
| 3 years | $-13,965 |
| 5 years | $-11,301 |
| 7 years | $-8,637 |
| 9 years | $-5,973 |
| 11 years | $-3,309 |
| 13 years | $-645 |
| 15 years | $2,019 |
| 17 years | $4,683 |
| 19 years | $7,347 |
| 21 years | $10,011 |
| 23 years | $12,675 |
| 25 years | $15,339 |
Top Solar Installers in Thorn
Installing solar panels on your own can be a challenging task, which is why using a solar installer is a good option for many homeowners. A solar company can also help save you money in the long run by offering warranties, repairs and part replacements.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some nearby:
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 Thorn
Factors that Affect Solar Panel Costs in Thorn
For many Thorn homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Thorn, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,410.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Thorn, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. 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 Thorn to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest.However, the interest on solar loans also adds to your overall costs, so it’s important to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you choose to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Thorn, and each can charge varying amounts for labor and equipment.Some companies only sell high-efficiency and high-priced 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 decide on the 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 | $3.55 | $14,895 | $9,314 | 15.4 years |
| 8 kW | $3.48 | $19,478 | $12,801 | 15.1 years |
| 10 kW | $3.41 | $23,870 | $16,478 | 14.8 years |
| 12 kW | $3.34 | $28,071 | $20,347 | 14.5 years |
| 14 kW | $3.27 | $32,081 | $24,406 | 14.2 years |
| 16 kW | $3.21 | $35,900 | $28,657 | 13.9 years |
| 18 kW | $3.14 | $39,529 | $33,098 | 13.6 years |
| 20 kW | $3.07 | $42,966 | $37,730 | 13.3 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 tips to keep in mind to help with your decision:
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of options before deciding.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Thorn, OH Solar Cost FAQs
How much does it cost to install solar panels in Thorn?
The average cost of solar panels in Thorn 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 stuff like the type of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to consider when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your home value?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely 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 after having 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.