Solar Panel Cost Guide in Wilmington, OH (2023 Update)
- Wilmington Solar Installation Cost: $13,279
- 25-Year Savings: $9,198
- Payback Period: 14.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Wilmington
Let's have a look at the average cost of solar panels in Wilmington.
Although the national average of solar panels is $2.66 per watt, solar panels in Wilmington generally cost about 2.56. To cover the typical energy usage of the average home in Wilmington, most homeowners require a 7.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $13,279, or $18,989 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average Wilmington homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. With average savings of about $12,000 on electricity bills over 20 years, many homeowners in Wilmington find installing solar panels can pay off big.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Wilmington
| Year | Return on Investment |
|---|---|
| 1 years | $-12,380 |
| 3 years | $-10,582 |
| 5 years | $-8,783 |
| 7 years | $-6,985 |
| 9 years | $-5,187 |
| 11 years | $-3,389 |
| 13 years | $-1,591 |
| 15 years | $207 |
| 17 years | $2,005 |
| 19 years | $3,803 |
| 21 years | $5,602 |
| 23 years | $7,400 |
| 25 years | $9,198 |
Top Solar Installers in Wilmington
Although you can install solar panels by yourself, it requires extra energy and expertise. That's why almost all homeowners choose a solar panel installer. Some solar companies, especially local ones, can help you take advantage of incentives in Wilmington, optimizing your ROI.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Wilmington
Factors that Affect Solar Panel Costs in Wilmington
Even though the average cost of a solar system in Wilmington is $13,279, your final cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $2,560 per kilowatt in Wilmington. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a popular choice because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can impact your pricing. Wilmington's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Wilmington are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $7,022 | 15.4 years |
| 8 kW | $2.61 | $14,623 | $9,649 | 15.1 years |
| 10 kW | $2.56 | $17,920 | $12,419 | 14.8 years |
| 12 kW | $2.51 | $21,074 | $15,333 | 14.5 years |
| 14 kW | $2.46 | $24,084 | $18,391 | 14.2 years |
| 16 kW | $2.41 | $26,952 | $21,591 | 13.9 years |
| 18 kW | $2.36 | $29,676 | $24,935 | 13.6 years |
| 20 kW | $2.30 | $32,256 | $28,423 | 13.3 years |
How to Save on Solar Panels
There are a large number of companies available in Wilmington, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
- Contract: Read the contract terms thoroughly to make sure you understand the total cost, project completion timeline incentives and warranties.
- Solar Panel Brands: Different companies will have various brands and types of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Wilmington, OH Solar Cost FAQs
How much does it cost to install solar panels in Wilmington?
The average cost of solar panels in Wilmington is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is making the switch to solar worth it?
Solar panels can be a great investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out what solar panel system size 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 generally produce about 250 to 400 watt-hours per hour, the average household 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.