Solar Panel Cost Guide in Tipp City, OH (2023 Update)
- Tipp City Solar Installation Cost: $13,439
- 25-Year Savings: $15,075
- Payback Period: 11.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Tipp City
Here's how much it might cost to go solar in Tipp City.
The average cost of solar panels in Tipp City is 2.56 per watt. Since a 7.5-kW system is needed to cover the energy costs of a typical home in Tipp City, the average price of going solar will be about $13,440 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average energy use of Tipp City homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. For many homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $14,000 in savings on utility bills over 20 years.
To get a free quote from a pre-vetted solar installer in Tipp City, you can click the button below.
Solar savings over time in Tipp City
| Year | Return on Investment |
|---|---|
| 1 years | $-13,344 |
| 3 years | $-13,154 |
| 5 years | $-12,964 |
| 7 years | $-12,773 |
| 9 years | $-12,583 |
| 11 years | $-12,393 |
| 13 years | $-12,203 |
| 15 years | $-12,013 |
| 17 years | $-11,823 |
| 19 years | $-11,633 |
| 21 years | $-11,443 |
| 23 years | $-11,253 |
| 25 years | $-11,063 |
Top Solar Installers in Tipp City
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Hiring an installer can make your switch to solar power much easier. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some in Tipp City:
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 Tipp City
Factors that Affect Solar Panel Costs in Tipp City
The cost of installing a solar system in Tipp City 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 your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $2,560 per kilowatt in Tipp City. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are an affordable route because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can influence your pricing. Tipp City's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Tipp City know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $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
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.