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.
The national average cost of solar panels is $2.66 per watt, but in Walnut it’s 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.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of solar panels you want to get, your solar contractor and more.But, once you've paid the upfront cost of installation, the payback for most homeowners is typically rewarding, with a net average savings of about $15,000 over 20 years on electricity bills.
You can click the button below to get connected with a top solar installer in Walnut that can help you get a more accurate cost estimate for your home.
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 it's possible to install solar panels yourself, it takes extra effort and handiness. For that reason, almost all homeowners choose to go with a solar panel installer. The expertise that solar companies offer can be invaluable as well, especially if you don’t quite know what kind of solar equipment you need.
If you're searching for a solar installer in Walnut, we've compiled a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Walnut
Factors that Affect Solar Panel Costs in Walnut
Although the average cost of a solar system in Walnut is $17,944, your actual cost may differ. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar panel system in Walnut, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can gauge by looking at past energy bills. Your total cost can increase by about $3,410 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Walnut have solar loans, which reduce the initial cost of installing a solar system.However, the interest on solar loans also increases your overall costs, so it’s crucial to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you go with to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies in Walnut, and each can charge different amounts for labor and equipment.Additionally, some companies in Walnut have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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
There are a large number of companies to choose from in Walnut, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can check your installer’s reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: If you’re concerned about the durability of your solar panel system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: When reading over your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Walnut, OH Solar Cost FAQs
How much does it cost to install solar panels in Walnut?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Walnut?
You can’t get solar panels for free in Walnut. However, you may still be able to install 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.
Can solar panels completely eradicate my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in 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 contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out what solar panel system size 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 usually produce about 250 to 400 watt-hours per hour, the average household 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.