Solar Panel Cost Guide in Walnut, OH (2024 Update)
- Walnut Solar Installation Cost: $17,944
- 25-Year Savings: $16,795
- Payback Period: 14.8 Years
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Average Cost of Solar Panels in Walnut
Find out what the average cost of installing solar panels is in Walnut.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Walnut, the average cost of a solar system is 3 per watt.The average solar panel system size in Walnut is around 7.5 kilowatts, meaning a cost of about $17,944 for a solar installation, or $25,660 before the 0 federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you will most likely differ based on the amount of energy your home requires and what company you go with.For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $15,000 in savings on utility bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Walnut
| Year | Return on Investment |
|---|---|
| 1 years | $-16,612 |
| 3 years | $-13,948 |
| 5 years | $-11,284 |
| 7 years | $-8,620 |
| 9 years | $-5,956 |
| 11 years | $-3,292 |
| 13 years | $-628 |
| 15 years | $2,036 |
| 17 years | $4,700 |
| 19 years | $7,364 |
| 21 years | $10,028 |
| 23 years | $12,692 |
| 25 years | $15,356 |
Top Solar Installers in Walnut
Although you can install solar panels on your own, it involves extra time and know-how. Because of that, almost all homeowners choose to hire a solar panel installer. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in Walnut:
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 Walnut
Factors that Affect Solar Panel Costs in Walnut
Even though the average cost of a solar system in Walnut is $17,944, your actual cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,410.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. In addition, add-on products, such as solar batteries, can bring your total well above the Walnut average.
Solar Financing Terms
Many homeowners find the average cost of solar in Walnut to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Walnut is the company you hire to install your solar system. Similar to choosing a company to install new cabinets, for instance, you’ll have many options for solar installers that provide a range of services at different costs.Additionally, some companies in Walnut are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. 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 | $3.55 | $14,895 | $9,262 | 15.4 years |
| 8 kW | $3.48 | $19,478 | $12,731 | 15.1 years |
| 10 kW | $3.41 | $23,870 | $16,391 | 14.8 years |
| 12 kW | $3.34 | $28,071 | $20,242 | 14.5 years |
| 14 kW | $3.27 | $32,081 | $24,284 | 14.2 years |
| 16 kW | $3.21 | $35,900 | $28,517 | 13.9 years |
| 18 kW | $3.14 | $39,529 | $32,941 | 13.6 years |
| 20 kW | $3.07 | $42,966 | $37,556 | 13.3 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose considerably influences your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two 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 previous customers.
- Solar Panel Brands: The brand of solar panel you need to get plays a part in which company you should opt for, since different companies offer different panels.
- Warranty: If you care about the longevity of your solar system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: It’s important to read your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Walnut, OH Solar Cost FAQs
How much does it cost to install solar panels in Walnut?
The average cost of solar panels in Walnut is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Walnut?
A solar panel system isn’t free in Walnut, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How much can I save on electricity bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Walnut, 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 do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much 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 buy between 20 and 35 panels to cover 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.