Solar Panel Cost Guide in Van Wert, OH (2023 Update)
- Van Wert Solar Installation Cost: $13,583
- 25-Year Savings: $17,836
- Payback Period: 10.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Van Wert
Let's take a look at the average cost of solar panels in Van Wert.
In Van Wert, solar panels cost about 2.56 per watt on average. To cover the typical energy needs of the average home in Van Wert, most homeowners require a 7.6-kilowatt system. Using the per-watt figure above, a solar installation costs about $13,583, or $19,424 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy consumption, the type of solar panels you want, your solar contractor and more. But, once you've paid the initial cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $16,000 over 20 years on electricity bills.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Van Wert
| Year | Return on Investment |
|---|---|
| 1 years | $-12,327 |
| 3 years | $-9,813 |
| 5 years | $-7,299 |
| 7 years | $-4,786 |
| 9 years | $-2,272 |
| 11 years | $241 |
| 13 years | $2,755 |
| 15 years | $5,268 |
| 17 years | $7,782 |
| 19 years | $10,296 |
| 21 years | $12,809 |
| 23 years | $15,323 |
| 25 years | $17,836 |
Top Solar Installers in Van Wert
Although you can install solar panels on your own, it takes extra effort and handiness. Because of that, almost all homeowners choose to go with a solar panel installer. Plus, if you'd like to maximize your investment in solar energy, using a solar installer can help with that as well. Different providers can offer repairs, expertise on solar panel installation and sometimes even information on local incentives.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some in Van Wert:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Van Wert
Factors that Affect Solar Panel Costs in Van Wert
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Van Wert: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,560. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a solid option 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 a good idea 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 how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar installer you go with to handle your switch to clean energy can play a role in your total costs. There are about 3 solar panel companies in Van Wert, and each can charge varying amounts for labor and equipment. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $13,694 | 11.2 years |
| 8 kW | $2.61 | $14,623 | $18,545 | 11.0 years |
| 10 kW | $2.56 | $17,920 | $23,540 | 10.8 years |
| 12 kW | $2.51 | $21,074 | $28,678 | 10.6 years |
| 14 kW | $2.46 | $24,084 | $33,959 | 10.4 years |
| 16 kW | $2.41 | $26,952 | $39,384 | 10.2 years |
| 18 kW | $2.36 | $29,676 | $44,952 | 9.9 years |
| 20 kW | $2.30 | $32,256 | $50,663 | 9.7 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Van Wert, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
- Contract: Before signing a contract with a solar installer, make sure you 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 the warranty covers and what services you can expect from them.
- Warranty: If you care about the durability of your solar panels, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Van Wert, OH Solar Cost FAQs
How much does it cost to install solar panels in Van Wert?
This is a hard 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Van Wert?
You can't get solar panels for free in Van Wert. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Van Wert?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
How long do solar panels last in Van Wert?
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 higher level 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.