Solar Panel Cost Guide in Tiffin, OH (2023 Update)
- Tiffin Solar Installation Cost: $13,345
- 25-Year Savings: $16,458
- Payback Period: 11.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Tiffin
Find out what the average cost of a solar system is in Tiffin.
Although the national average of solar panels is $2.66 per watt, solar panels in Tiffin generally cost around 2.56. To account for the typical energy needs of the average home in Tiffin, most homeowners require a 7.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $13,350, or $19,090 before the federal solar tax credit of 30% is applied.
The true cost of your system can be above or below the average in Tiffin depending on several factors, such as the type of solar panels you choose and the solar installer you hire. Despite the significant initial cost, the average Tiffin homeowner can save about $15,000 on their power bills over 20 years, which is one of the positives of solar.
To get a free estimate from a vetted solar installer in Tiffin, you can click the button below.
Solar savings over time in Tiffin
| Year | Return on Investment |
|---|---|
| 1 years | $-12,013 |
| 3 years | $-9,349 |
| 5 years | $-6,685 |
| 7 years | $-4,021 |
| 9 years | $-1,357 |
| 11 years | $1,307 |
| 13 years | $3,971 |
| 15 years | $6,635 |
| 17 years | $9,299 |
| 19 years | $11,963 |
| 21 years | $14,627 |
| 23 years | $17,291 |
| 25 years | $19,955 |
Top Solar Installers in Tiffin
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Using a solar panel installer can make switching to solar power much easier. A solar installer can also help save you money in the long run by providing warranties, repairs and part replacements.
If you'd like to make the switch to solar but still aren't sure which solar panel company to go with, here are our suggestions for providers 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 Tiffin
Factors that Affect Solar Panel Costs in Tiffin
For many Tiffin homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Tiffin, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production 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 $2,560. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your energy bills. Additionally, add-on products, like solar batteries, can bring your total well above the Tiffin average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Tiffin, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installation company you choose will affect your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Tiffin have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $12,830 | 11.6 years |
| 8 kW | $2.61 | $14,623 | $17,393 | 11.4 years |
| 10 kW | $2.56 | $17,920 | $22,100 | 11.2 years |
| 12 kW | $2.51 | $21,074 | $26,950 | 11.0 years |
| 14 kW | $2.46 | $24,084 | $31,943 | 10.7 years |
| 16 kW | $2.41 | $26,952 | $37,080 | 10.5 years |
| 18 kW | $2.36 | $29,676 | $42,360 | 10.3 years |
| 20 kW | $2.30 | $32,256 | $47,784 | 10.1 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose greatly influences your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: If you care about the durability of your solar panel system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Installation Process: When making the switch to solar power, it's essential to maintain an open line of communication with your solar company. See to it that you understand how the installation process works and the project completion timeline.
- Contract: When reading over your solar company'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 component breaking or the company going out of business.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Tiffin, OH Solar Cost FAQs
How much does it cost to install solar panels in Tiffin?
The average cost of solar panels in Tiffin 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 things like the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Tiffin?
You can't get solar panels for free in Tiffin. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
How much can I save on power bills after installing solar panels?
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 $800.40 per year.
How long do solar panels last in Tiffin?
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 higher 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.