Solar Panel Cost Guide in Waverly, OH (2024 Update)

  • Waverly Solar Installation Cost: $17,670
  • 25-Year Savings: $20,480
  • Payback Period: 13.1 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Waverly

We break down average solar pricing in Waverly.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Waverly, the typical cost of a solar system is 3 per watt.The average solar panel system size in Waverly is around 7.4 kilowatts, meaning a cost of about $17,670 for a solar installation, or $25,268 before the 0 federal solar tax credit is applied.

How much you pay can go higher or lower than the average in Waverly based on several factors, such as the brand of solar panels you choose and the solar company you hire.But, once you've paid the upfront cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $17,000 over 20 years on utility bills.

To see your potential ROI and connect with a local solar installer, click the button below.

Solar savings over time in Waverly

Year Return on Investment
1 years $-16,338
3 years $-13,674
5 years $-11,010
7 years $-8,346
9 years $-5,682
11 years $-3,018
13 years $-354
15 years $2,310
17 years $4,974
19 years $7,638
21 years $10,302
23 years $12,966
25 years $15,630

Top Solar Installers in Waverly

Although it's possible to install solar panels by yourself, it involves extra effort and handiness. For that reason, most homeowners choose to go with a solar panel installer. Another great thing about using a reputable solar installer is that it'll usually provide warranties and free repairs, which help protect your solar investment.

You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some in Waverly:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • 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 Waverly

Factors that Affect Solar Panel Costs in Waverly

The cost of installing a solar system in Waverly can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.

Solar Equipment

Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your power bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Waverly average.

Solar Financing Terms

Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Waverly homeowners decide to finance their solar panel systems to make paying for solar more affordable.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.

Solar Panel Installation Company

The final key cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Waverly, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and decide on the company that offers the products, warranties and services you’re looking for and also fits within your budget.

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 $12,456 13.6 years
8 kW $3.48 $19,478 $16,990 13.4 years
10 kW $3.41 $23,870 $21,715 13.1 years
12 kW $3.34 $28,071 $26,631 12.8 years
14 kW $3.27 $32,081 $31,737 12.6 years
16 kW $3.21 $35,900 $37,035 12.3 years
18 kW $3.14 $39,529 $42,524 12.0 years
20 kW $3.07 $42,966 $48,204 11.8 years

How to Save on Solar Panels

The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:

  • Contract: Before you sign a contract with a solar installer, make sure you read it through completely so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
  • Warranty: If you’re worried about the longevity of your solar energy system, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
  • Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
  • Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Waverly, OH Solar Cost FAQs

How much does it cost to install solar panels in Waverly?

The average cost of solar panels in Waverly is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.

Should I lease or buy solar panels in Waverly?

Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.

Is it worth going solar in Waverly?

Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.

How long do solar panels last in Waverly?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them after having 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.

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