Solar Panel Cost Guide in Wayne, OH (2023 Update)
- Wayne Solar Installation Cost: $13,326
- 25-Year Savings: $10,634
- Payback Period: 13.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Wayne
Find out what the average cost of a solar system is in Wayne.
In Wayne, solar panels cost about 2.56 per watt on average. Using this figure, a typical 7.4-kW system would cost about $13,332 before the 30% federal solar tax credit is applied.
These figures are just estimates, and how much solar costs for you will differ based on factors unique to your home and what company you go with. Many homeowners find installing a solar system is a solid investment. The average homeowner in Wayne can save around $12,000 on their energy bills over 20 years.
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 Wayne
| Year | Return on Investment |
|---|---|
| 1 years | $-12,161 |
| 3 years | $-9,831 |
| 5 years | $-7,501 |
| 7 years | $-5,171 |
| 9 years | $-2,841 |
| 11 years | $-511 |
| 13 years | $1,819 |
| 15 years | $4,149 |
| 17 years | $6,479 |
| 19 years | $8,809 |
| 21 years | $11,139 |
| 23 years | $13,469 |
| 25 years | $15,799 |
Top Solar Installers in Wayne
Many homeowners choose to use a solar installation company since trying to put up solar panels yourself can be hard. Companies can also provide access to a large variety of the best solar panels and help you choose which one will be best for your family.
If you'd like to go solar but still aren't sure which solar system installer to go with, here are our recommendations for providers nearby:
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 Wayne
Factors that Affect Solar Panel Costs in Wayne
There are many criteria that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,560. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Wayne offer solar loans, which reduce your upfront costs of installing solar panels. When considering your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose to handle your switch to clean energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Wayne, and each can charge different amounts for labor and equipment. Additionally, some companies in Wayne know more about local solar incentives and can help you make good use 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 end up saving you 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 | $8,150 | 14.5 years |
| 8 kW | $2.61 | $14,623 | $11,153 | 14.2 years |
| 10 kW | $2.56 | $17,920 | $14,300 | 13.9 years |
| 12 kW | $2.51 | $21,074 | $17,590 | 13.6 years |
| 14 kW | $2.46 | $24,084 | $21,024 | 13.3 years |
| 16 kW | $2.41 | $26,952 | $24,600 | 13.1 years |
| 18 kW | $2.36 | $29,676 | $28,321 | 12.8 years |
| 20 kW | $2.30 | $32,256 | $32,184 | 12.5 years |
How to Save on Solar Panels
The solar installer you go with will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Contract: Read the contract terms thoroughly to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Wayne, OH Solar Cost FAQs
How much does it cost to install solar panels in Wayne?
This is a hard question to answer precisely, because the cost depends on many 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 cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Wayne?
Solar panels aren't free in Wayne, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can solar panels significantly reduce my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $644.40 per year.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.