Solar Panel Cost Guide in Truro, OH (Mar 2023)
- Truro Solar Installation Cost: $13,530
- 25-Year Savings: $18,517
- Payback Period: 10.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Truro
We go over average solar pricing in Truro.
In Truro, solar panels cost about 2.56 per watt on average. To account for the typical energy needs of the average home in Truro, most homeowners require a 7.5-kilowatt system. Using the figure above, a solar installation costs about $13,530, or $19,348 before the federal solar tax credit of 30% is applied.
These figures are just averages, and your own solar costs will vary based on the amount of energy your home requires and what company you want to go with. With typical savings of about $16,000 on electricity bills over 20 years, many homeowners in Truro find installing solar panels has a decent ROI.
To get a free quote from a highly rated solar installation company in Truro, you can click the button below.
Solar savings over time in Truro
| Year | Return on Investment |
|---|---|
| 1 years | $-12,248 |
| 3 years | $-9,684 |
| 5 years | $-7,120 |
| 7 years | $-4,556 |
| 9 years | $-1,993 |
| 11 years | $571 |
| 13 years | $3,135 |
| 15 years | $5,699 |
| 17 years | $8,262 |
| 19 years | $10,826 |
| 21 years | $13,390 |
| 23 years | $15,954 |
| 25 years | $18,517 |
Top Solar Installers in Truro
When switching to solar energy, many homeowners prefer to hire a solar installer since installing a solar system yourself can be a challenging project. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
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 Truro
Factors that Affect Solar Panel Costs in Truro
For many Truro homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Truro, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The kind of solar panels and equipment you get is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to think about 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 falls within your budget.
Solar Financing Terms
Most solar companies in Truro provide solar loans, which reduce your upfront costs of installing solar panels. 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 more than the original 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
The solar panel installer you pick will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Even though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- 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.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which model 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 take a look at their list of options before deciding.
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 Truro, OH Solar Cost FAQs
How much does it cost to install solar panels in Truro?
This is a difficult 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 cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Truro?
Leasing solar panels can be an appealing 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 tax rebates and credits 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 energy bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Truro, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate 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 should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.