Solar Panel Cost Guide in Tipp City, OH (Mar 2023)
- Tipp City Solar Installation Cost: $13,440
- 25-Year Savings: $15,074
- Payback Period: 11.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Tipp City
Find out how much it might cost to install solar panels in Tipp City.
The average cost of a solar system in Tipp City is 2.56 per watt. The average solar panel system size in Tipp City is around 7.5 kilowatts, meaning a cost of about $13,440 for a solar installation, or $19,219 before the 30% federal solar tax credit is applied.
These figures are only estimates, and the cost of going solar for you may vary based on your energy needs and what company you want to go with. Many homeowners find going solar is a sound investment. The average homeowner in Tipp City can save about $14,000 on their energy bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Tipp City
| Year | Return on Investment |
|---|---|
| 1 years | $-12,299 |
| 3 years | $-10,018 |
| 5 years | $-7,737 |
| 7 years | $-5,456 |
| 9 years | $-3,175 |
| 11 years | $-894 |
| 13 years | $1,387 |
| 15 years | $3,668 |
| 17 years | $5,950 |
| 19 years | $8,231 |
| 21 years | $10,512 |
| 23 years | $12,793 |
| 25 years | $15,074 |
Top Solar Installers in Tipp City
When going solar, many homeowners choose to use a solar installer since handling can be a difficult project. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- 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 Tipp City
Factors that Affect Solar Panel Costs in Tipp City
There are many criteria that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Tipp City, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can figure out by looking at past energy bills. Your total cost can increase by about $2,560 for each additional kilowatt you need. The type of solar panels and equipment you get is another factor that will largely influence 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 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 researching a solar system that's in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a solid option because they lower your upfront costs and let you pay for your system over five to seven years on average. 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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can affect your pricing. Tipp City's solar companies all have different labor costs and add varying upcharges to equipment. The company's size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $11,631 | 12.3 years |
| 8 kW | $2.61 | $14,623 | $15,795 | 12.0 years |
| 10 kW | $2.56 | $17,920 | $20,102 | 11.8 years |
| 12 kW | $2.51 | $21,074 | $24,552 | 11.5 years |
| 14 kW | $2.46 | $24,084 | $29,146 | 11.3 years |
| 16 kW | $2.41 | $26,952 | $33,883 | 11.1 years |
| 18 kW | $2.36 | $29,676 | $38,763 | 10.8 years |
| 20 kW | $2.30 | $32,256 | $43,787 | 10.6 years |
How to Save on Solar Panels
The solar installer you choose will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, such as:
- Solar Panel Brands: Different companies have various brands and models of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Contract: Before signing a contract with a solar company, be sure to look it over carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- 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 Tipp City, OH Solar Cost FAQs
What is the average cost of installing solar panels in Tipp City?
This is a hard question to answer precisely, because the cost depends on a few different 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. It will be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Tipp City?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The drawback 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 incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Can you sell solar power back to the grid in Tipp City?
The majority of states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.