Solar Panel Cost Guide in Wayne, OH (Mar 2023)
- Wayne Solar Installation Cost: $13,332
- 25-Year Savings: $10,628
- Payback Period: 13.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Wayne
Find out how much it might cost to make the switch to solar in Wayne.
In Wayne, solar panels cost about 2.56 per watt on average. The average Wayne homeowner needs a 7.4-kilowatt system, which would cost about $13,332 with the federal tax credit, or $19,065 before the 30% tax credit is applied.
How much you pay can go above or below the average in Wayne based on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $12,000 over 20 years on energy bills.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Wayne
| Year | Return on Investment |
|---|---|
| 1 years | $-12,374 |
| 3 years | $-10,457 |
| 5 years | $-8,540 |
| 7 years | $-6,624 |
| 9 years | $-4,707 |
| 11 years | $-2,790 |
| 13 years | $-873 |
| 15 years | $1,044 |
| 17 years | $2,960 |
| 19 years | $4,877 |
| 21 years | $6,794 |
| 23 years | $8,711 |
| 25 years | $10,628 |
Top Solar Installers in Wayne
When switching to solar energy, many homeowners opt to go with a solar installer since DIY solar panel installation can be a time-consuming project. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- 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 Wayne
Factors that Affect Solar Panel Costs in Wayne
There are several criteria that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay around $2,560 per kilowatt in Wayne. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Wayne, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are an affordable option because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can impact the cost. Wayne's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to 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 | $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
Since the kind of solar panels and the company you choose significantly influences 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:
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer good-quality solar panel installation and expertise.
- Contract: Before signing a contract with a solar installer, make sure you read it through carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: When making the switch to solar energy, it's necessary to maintain an open line of communication with your solar installer. See to it that you understand how the installation process will go and the completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- 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 Wayne, OH Solar Cost FAQs
What is the average cost of installing solar panels in Wayne?
The average cost of solar panels in Wayne is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Wayne?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The drawback 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 incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
How will installing solar panels impact the value of my home?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.