Solar Panel Cost Guide in Wapakoneta, OH (2023 Update)
- Wapakoneta Solar Installation Cost: $18,045
- 25-Year Savings: $18,264
- Payback Period: 14.2 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Wapakoneta
We break down average solar pricing in Wapakoneta.
In Wapakoneta, solar panels cost about 2.56 per watt on average.Using this figure, a typical 7.6-kW system would cost about $13,548 before the 30% federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you may look different based on your specific situation and what company you go with.But, once you've paid the upfront cost of installation, the savings for most homeowners is usually good, with a net average savings of about $16,000 over 20 years on energy bills.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Wapakoneta
| Year | Return on Investment |
|---|---|
| 1 years | $-17,027 |
| 3 years | $-14,990 |
| 5 years | $-12,954 |
| 7 years | $-10,917 |
| 9 years | $-8,880 |
| 11 years | $-6,844 |
| 13 years | $-4,807 |
| 15 years | $-2,771 |
| 17 years | $-734 |
| 19 years | $1,303 |
| 21 years | $3,339 |
| 23 years | $5,376 |
| 25 years | $7,412 |
Top Solar Installers in Wapakoneta
Many homeowners opt for a solar installation company since installing solar panels on your own can be challenging. Also, if you'd like to maximize your investment in solar energy, opting for a solar installer can help with that as well. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives, rebates and net metering programs.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Wapakoneta
Factors that Affect Solar Panel Costs in Wapakoneta
Even though the average cost of a solar system in Wapakoneta is $13,548, your actual cost may differ. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
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 pay about $2,560 per kilowatt in Wapakoneta.The brand of solar panels and equipment you choose is another factor that will greatly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Wapakoneta homeowners choose to finance their solar panel systems to offset upfront costs.You'll have to consider the long-term cost of loans, including the total 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 APR could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Wapakoneta is the company you choose to install your solar panel system. As with choosing a company to renovate your kitchen, for example, you'll have many options for solar installers that offer a range of services at different price points.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $10,353 | 14.7 years |
| 8 kW | $3.48 | $19,478 | $14,186 | 14.5 years |
| 10 kW | $3.41 | $23,870 | $18,210 | 14.2 years |
| 12 kW | $3.34 | $28,071 | $22,424 | 13.9 years |
| 14 kW | $3.27 | $32,081 | $26,830 | 13.6 years |
| 16 kW | $3.21 | $35,900 | $31,427 | 13.3 years |
| 18 kW | $3.14 | $39,529 | $36,215 | 13.0 years |
| 20 kW | $3.07 | $42,966 | $41,193 | 12.8 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose significantly influences your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Different companies will carry different brands and types of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- 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.
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Wapakoneta, OH Solar Cost FAQs
How much does it cost to install solar panels in Wapakoneta?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $12,800 for a 5-kW system and $25,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
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 Wapakoneta have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either be compensated 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?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.