Solar Panel Cost Guide in Waverly, OH (Feb 2023)
- Waverly Solar Installation Cost: $13,261
- 25-Year Savings: $20,485
- Payback Period: 9.8 Years
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Top Solar Installers in Waverly
Many homeowners opt for a solar installation company since trying to install solar panels by yourself can be challenging. Some solar companies, especially local ones, can help you better understand incentives in Waverly, thereby optimizing your ROI.
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 near you:
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 your system size, and other factors include equipment choices, financing options and the solar installer you choose.
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,560. The kind of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to make decisions 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 looking into a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a popular choice because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. While solar loans make adopting solar energy more accessible for Waverly homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar panel companies in Waverly, and each can charge different amounts for labor and equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions 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||$2.66||$11,182||$16,169||10.2 years|
|8 kW||$2.61||$14,623||$21,845||10.0 years|
|10 kW||$2.56||$17,920||$27,665||9.8 years|
|12 kW||$2.51||$21,074||$33,628||9.6 years|
|14 kW||$2.46||$24,084||$39,734||9.4 years|
|16 kW||$2.41||$26,952||$45,984||9.2 years|
|18 kW||$2.36||$29,676||$52,377||9.0 years|
|20 kW||$2.30||$32,256||$58,914||8.8 years|
How to Save on Solar Panels
Since the brand 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 pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before making your decision.
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a quality company.
EcoWatch's Waverly, OH Solar Cost FAQs
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.