Solar Panel Cost Guide in Walnut, OH (2023 Update)
- Walnut Solar Installation Cost: $13,471
- 25-Year Savings: $16,795
- Payback Period: 11.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Walnut
See how much it might cost to switch to solar power in Walnut.
Although the national average of solar panels is $2.66 per watt, solar panels in Walnut typically cost about 2.56. 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.
The true price you pay can be above or below the average in Walnut depending on a few factors, such as the type of solar panels you choose and the solar contractor you hire. But, after you've paid the initial cost of installation, the savings for most homeowners is typically fruitful, with a net average savings of about $15,000 over 20 years on electricity bills.
To get a free quote from a vetted solar installation company in Walnut, you can click the button below.
Solar savings over time in Walnut
| Year | Return on Investment |
|---|---|
| 1 years | $-12,139 |
| 3 years | $-9,475 |
| 5 years | $-6,811 |
| 7 years | $-4,147 |
| 9 years | $-1,483 |
| 11 years | $1,181 |
| 13 years | $3,845 |
| 15 years | $6,509 |
| 17 years | $9,173 |
| 19 years | $11,837 |
| 21 years | $14,501 |
| 23 years | $17,165 |
| 25 years | $19,829 |
Top Solar Installers in Walnut
Although you can install solar panels on your own, it takes extra effort and handiness. That's why the majority of homeowners choose a solar panel installer. A solar company can also help save you money over time by offering warranties, repairs and system component replacements.
You can work with a local solar installer to get a free estimate 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
For many Walnut homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Walnut, with typical prices between $20,000 to $40,000. There are numerous factors that greatly 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 going solar. That's why it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space 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 raise the cost.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular option because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. Though solar loans make going solar more accessible for Walnut homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you hire to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies in Walnut, and each can charge varying amounts for labor and equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk 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 | $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
Since the model of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Before you sign a contract with a solar company, make sure to look it over carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: The kind of solar panel you want to install plays a role in which company you should go with, since different companies provide different panels.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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?
This is a tough question to answer exactly, because the cost depends on many factors. Generally 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 other solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels 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 help lower the cost.
Can you sell solar power back to the grid in Walnut?
The majority of states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.