Solar Panel Cost Guide in Trotwood, OH (Mar 2023)
- Trotwood Solar Installation Cost: $13,458
- 25-Year Savings: $9,019
- Payback Period: 15.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Trotwood
We go over average solar pricing in Trotwood.
The national average cost of solar panels is $2.66 per watt, but in Trotwood it's 2.56 per watt. The average Trotwood homeowner needs a 7.5-kilowatt system, which would cost about $13,458 with the federal tax credit, or $19,245 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of equipment you want, your solar contractor and more. With average savings of about $11,000 on energy bills over 20 years, many homeowners in Trotwood find installing solar panels can pay off big.
You can click the button below to get connected with a vetted solar installer in Trotwood for a quote for your home.
Solar savings over time in Trotwood
| Year | Return on Investment |
|---|---|
| 1 years | $-12,559 |
| 3 years | $-10,761 |
| 5 years | $-8,963 |
| 7 years | $-7,164 |
| 9 years | $-5,366 |
| 11 years | $-3,568 |
| 13 years | $-1,770 |
| 15 years | $28 |
| 17 years | $1,826 |
| 19 years | $3,624 |
| 21 years | $5,422 |
| 23 years | $7,220 |
| 25 years | $9,019 |
Top Solar Installers in Trotwood
Many homeowners choose to hire a solar panel installer since trying to put up solar panels yourself can be time-consuming. Plus, if you're not certain what type of solar panels and equipment you want, a solar expert can help you find the right equipment for you after a site survey and consultation.
If you'd like to switch to solar energy but still aren't certain which solar system installer to go with, here are our recommendations for providers in Trotwood:
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 Trotwood
Factors that Affect Solar Panel Costs in Trotwood
For many Trotwood homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Trotwood, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of solar panels in Trotwood, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can figure out by looking at past power 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 greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on 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
Many homeowners find the average cost of solar in Trotwood to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in higher prices over time because of interest. You'll have to consider the long-term cost of loans, including the total 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can play a part in determining the cost. Trotwood's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and better 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 | $6,787 | 15.6 years |
| 8 kW | $2.61 | $14,623 | $9,336 | 15.3 years |
| 10 kW | $2.56 | $17,920 | $12,028 | 15.0 years |
| 12 kW | $2.51 | $21,074 | $14,864 | 14.7 years |
| 14 kW | $2.46 | $24,084 | $17,843 | 14.4 years |
| 16 kW | $2.41 | $26,952 | $20,965 | 14.1 years |
| 18 kW | $2.36 | $29,676 | $24,231 | 13.8 years |
| 20 kW | $2.30 | $32,256 | $27,640 | 13.5 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one mark of a good company.
- Contract: Before signing a contract with a solar company, be sure to read it through carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
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 Trotwood, OH Solar Cost FAQs
What is the average cost of installing solar panels in Trotwood?
This is a difficult question to answer exactly, 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Trotwood?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The downside 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 solar panels significantly reduce my energy bills?
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 $598.96 per year.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.