Solar Panel Cost Guide in Wapakoneta, OH (Mar 2023)
- Wapakoneta Solar Installation Cost: $13,548
- 25-Year Savings: $18,264
- Payback Period: 10.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Wapakoneta
Here's how much it might cost to install solar panels in Wapakoneta.
While the national average of solar panels is $2.66 per watt, solar panels in Wapakoneta generally cost about 2.56. To cover the typical energy usage of the average home in Wapakoneta, most homeowners require a 7.6-kilowatt system. Using the figure above, a solar installation costs around $13,548, or $19,374 before the federal solar tax credit of 30% is applied.
These figures are only estimates, and how much solar costs for you will vary based on factors unique to your home and what company you go with. Many homeowners find adopting solar power is a solid investment. The average homeowner in Wapakoneta can save about $16,000 on their electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Wapakoneta that can help you get a more accurate cost estimate for your home.
Solar savings over time in Wapakoneta
| Year | Return on Investment |
|---|---|
| 1 years | $-12,275 |
| 3 years | $-9,730 |
| 5 years | $-7,185 |
| 7 years | $-4,640 |
| 9 years | $-2,095 |
| 11 years | $449 |
| 13 years | $2,994 |
| 15 years | $5,539 |
| 17 years | $8,084 |
| 19 years | $10,629 |
| 21 years | $13,174 |
| 23 years | $15,719 |
| 25 years | $18,264 |
Top Solar Installers in Wapakoneta
When making the switch to solar, many homeowners opt to go with a solar installation company since handling can be a time-consuming project. Local solar installers can also help you optimize your return on investment by walking you through any local incentives you can take advantage of and by providing warranties and repairs.
Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:
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 Wapakoneta
Factors that Affect Solar Panel Costs in Wapakoneta
There are a number of factors that can affect 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 panels.
Solar Equipment
One of the most significant 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 electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $2,560 per kilowatt in Wapakoneta. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are an affordable choice because they lower your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also increases your all-in costs, so it's vital to consider that as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installer you choose will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Wapakoneta are more knowledgeable about local solar incentives and can help you take advantage 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 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 | $14,066 | 11.1 years |
| 8 kW | $2.61 | $14,623 | $19,041 | 10.9 years |
| 10 kW | $2.56 | $17,920 | $24,160 | 10.6 years |
| 12 kW | $2.51 | $21,074 | $29,422 | 10.4 years |
| 14 kW | $2.46 | $24,084 | $34,827 | 10.2 years |
| 16 kW | $2.41 | $26,952 | $40,376 | 10.0 years |
| 18 kW | $2.36 | $29,676 | $46,068 | 9.8 years |
| 20 kW | $2.30 | $32,256 | $51,903 | 9.6 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Not all solar companies 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: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- 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 most likely has a good reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
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 Wapakoneta, OH Solar Cost FAQs
What is the average cost of installing solar panels in Wapakoneta?
This is a hard question to answer precisely, because the cost depends on a variety of 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 be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Wapakoneta?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Does Wapakoneta have a net metering program?
Most states have net metering programs of some kind. Through these, you can either receive compensation 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 long do solar panels last in Wapakoneta?
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 the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using 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.