Solar Panel Cost Guide in Truro, OH (2023 Update)
- Truro Solar Installation Cost: $13,524
- 25-Year Savings: $18,523
- Payback Period: 10.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Truro
We break down average solar pricing in Truro.
Although the national average of solar panels is $2.66 per watt, solar panels in Truro generally cost about 2.56. The average solar panel system size in Truro is around 7.5 kilowatts, meaning a cost of about $13,530 for a solar installation, or $19,348 before the 30% federal solar 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 solar system you want, your solar contractor and more. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Truro can save about $16,000 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 Truro
| Year | Return on Investment |
|---|---|
| 1 years | $-12,269 |
| 3 years | $-9,760 |
| 5 years | $-7,251 |
| 7 years | $-4,742 |
| 9 years | $-2,233 |
| 11 years | $276 |
| 13 years | $2,785 |
| 15 years | $5,294 |
| 17 years | $7,803 |
| 19 years | $10,312 |
| 21 years | $12,822 |
| 23 years | $15,331 |
| 25 years | $17,840 |
Top Solar Installers in Truro
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar company can make swapping over to solar power much easier. The expertise that solar companies provide can be helpful as well, especially if you aren't sure what kind of solar equipment you need.
If you'd like to switch to solar energy but still aren't certain which solar system company to go with, here are our recommendations for providers in Truro:
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 Truro
Factors that Affect Solar Panel Costs in Truro
The cost of installing a solar system in Truro can vary by more than $10,000 from home to home. Your actual cost is determined by 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 company you choose.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Truro, 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 consumption, which you can gauge by looking at past electricity bills. Your overall cost can increase by around $2,560 for each additional kilowatt you need. The brand and type of equipment you want for your solar system can raise or lower 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 limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Truro homeowners choose to finance their solar panel systems to make paying for solar more affordable. It's a good idea to factor 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 off the loan.
Solar Panel Installation Company
The solar panel installation company you pick will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor. The size of the company can sometimes play the most significant role in the cost. 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 can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
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 | $14,297 | 11.0 years |
| 8 kW | $2.61 | $14,623 | $19,349 | 10.8 years |
| 10 kW | $2.56 | $17,920 | $24,544 | 10.6 years |
| 12 kW | $2.51 | $21,074 | $29,883 | 10.3 years |
| 14 kW | $2.46 | $24,084 | $35,366 | 10.1 years |
| 16 kW | $2.41 | $26,952 | $40,991 | 9.9 years |
| 18 kW | $2.36 | $29,676 | $46,760 | 9.7 years |
| 20 kW | $2.30 | $32,256 | $52,673 | 9.5 years |
How to Save on Solar Panels
The solar installer you opt for will influence 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 several important things you should take into account, including:
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what you need to do before your solar system is installed, such as repairing your electrical system or roof.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
- Contract: Before you sign a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component 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
EcoWatch's Truro, OH Solar Cost FAQs
What is the average cost of installing solar panels in Truro?
This is a tough question to answer exactly, because the cost depends on a variety of 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 cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Truro?
Leasing solar panels can be an attractive choice, as it commonly 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 way to go if you want to maximize your savings.
How much can I save on electricity bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Truro, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.