Solar Panel Cost Guide in Walnut, OH (Mar 2023)
- Walnut Solar Installation Cost: $13,476
- 25-Year Savings: $16,790
- Payback Period: 11.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Walnut
Let's take a look at the average cost of solar in Walnut.
In Walnut, solar panels cost about 2.56 per watt on average. The average solar panel system size in Walnut is around 7.5 kilowatts, meaning a cost of about $13,476 for a solar installation, or $19,271 before the 30% federal solar tax credit is applied.
These figures are just estimates, and your own solar costs will look different based on the amount of energy your home requires and what company you go with. With typical savings of about $15,000 on utility bills over 20 years, many homeowners in Walnut find investing in solar can be quite rewarding.
For a customized quote from a local solar company 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 | $-12,265 |
| 3 years | $-9,844 |
| 5 years | $-7,423 |
| 7 years | $-5,001 |
| 9 years | $-2,580 |
| 11 years | $-159 |
| 13 years | $2,262 |
| 15 years | $4,684 |
| 17 years | $7,105 |
| 19 years | $9,526 |
| 21 years | $11,948 |
| 23 years | $14,369 |
| 25 years | $16,790 |
Top Solar Installers in Walnut
Many homeowners choose to hire a solar installer since trying to put up solar panels yourself can be a lot of work. Plus, if you aren't sure what type of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.
If you're searching for a solar installer in Walnut, we've organized a list of our top suggestions here:
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 Walnut
Factors that Affect Solar Panel Costs in Walnut
There are several criteria that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $2,560 per kilowatt in Walnut. There are a lot of different solar panel brands and the one you choose also affects the cost. In many cases, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you choose 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 companies in Walnut have solar loans, which reduce your upfront costs of installing a solar system. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Finally, the company you hire to install your solar panel system can affect the cost. Walnut's solar companies all have different labor costs and add varying upcharges to 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 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 | $2.66 | $11,182 | $12,974 | 11.6 years |
| 8 kW | $2.61 | $14,623 | $17,586 | 11.4 years |
| 10 kW | $2.56 | $17,920 | $22,341 | 11.1 years |
| 12 kW | $2.51 | $21,074 | $27,239 | 10.9 years |
| 14 kW | $2.46 | $24,084 | $32,281 | 10.7 years |
| 16 kW | $2.41 | $26,952 | $37,466 | 10.5 years |
| 18 kW | $2.36 | $29,676 | $42,794 | 10.2 years |
| 20 kW | $2.30 | $32,256 | $48,266 | 10.0 years |
How to Save on Solar Panels
There are numerous companies to choose from in Walnut, 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:
- Contract: Look through the contract terms thoroughly to make sure you understand the overall cost, completion timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 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 $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Walnut have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses 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.