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

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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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

See how much it might cost to switch to solar power in Waverly.

The average cost of solar panels in Waverly is $3 per watt. The average solar panel system size in Waverly is around 7.4 kilowatts, meaning a cost of about $13,261 for a solar installation, or $9,813 after the 30% federal solar tax credit is applied.

Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy consumption, the type of equipment you want to get, your solar contractor and more. For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Waverly see about $17,000 in savings on utility bills over 20 years.

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

Solar savings over time in Waverly

Year Return on Investment
1 years $-11,911
3 years $-9,211
5 years $-6,512
7 years $-3,812
9 years $-1,112
11 years $1,587
13 years $4,287
15 years $6,986
17 years $9,686
19 years $12,386
21 years $15,085
23 years $17,785
25 years $20,485

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:

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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 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.

Solar Equipment

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.

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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Waverly, OH Solar Cost FAQs

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

This is a difficult question to answer precisely, because the cost depends on many 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. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

Are solar panels free in Waverly?

You can't get solar panels for free in Waverly. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.

How much can I save on energy bills after installing solar panels?

Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $911.70 per year.

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 stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can 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.

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