Solar Panel Cost Guide in Yellow Springs, OH (2023 Update)
- Yellow Springs Solar Installation Cost: $13,332
- 25-Year Savings: $11,717
- Payback Period: 13.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Yellow Springs
Find out what the average cost of a solar system is in Yellow Springs.
The national average cost of solar panels is $2.66 per watt, but in Yellow Springs it's 2.56 per watt. Using this figure, a typical 7.4-kW system would cost about $13,332 before the 30% federal solar tax credit is applied.
The true cost of your system can go above or below the average in Yellow Springs based on a variety of factors, such as the type of solar panels you choose and the solar installer you hire. For many homeowners, the upfront investment in solar is worth paying. On average Yellow Springs homeowners see about $13,000 in savings on energy bills over 20 years.
Click the button below to get connected to a vetted solar panel company in Yellow Springs for a custom estimate.
Solar savings over time in Yellow Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-12,330 |
| 3 years | $-10,327 |
| 5 years | $-8,323 |
| 7 years | $-6,319 |
| 9 years | $-4,315 |
| 11 years | $-2,311 |
| 13 years | $-307 |
| 15 years | $1,697 |
| 17 years | $3,701 |
| 19 years | $5,705 |
| 21 years | $7,709 |
| 23 years | $9,713 |
| 25 years | $11,717 |
Top Solar Installers in Yellow Springs
Many homeowners opt for a solar installer since figuring out how to install solar panels by yourself can be hard. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you're looking for a solar company in Yellow Springs, we've organized a list of our top suggestions here:
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 Yellow Springs
Factors that Affect Solar Panel Costs in Yellow Springs
For many Yellow Springs homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Yellow Springs, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,560. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Yellow Springs, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. 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 too expensive, solar loans are a solid choice because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. Though solar loans make adopting solar energy more accessible for Yellow Springs homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Yellow Springs is the company you get to install your solar panel system. As with choosing a company to install new cabinets, for instance, there are plenty of solar installers that offer a range of services at different price points. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $9,022 | 13.8 years |
| 8 kW | $2.61 | $14,623 | $12,316 | 13.6 years |
| 10 kW | $2.56 | $17,920 | $15,753 | 13.3 years |
| 12 kW | $2.51 | $21,074 | $19,334 | 13.0 years |
| 14 kW | $2.46 | $24,084 | $23,058 | 12.8 years |
| 16 kW | $2.41 | $26,952 | $26,925 | 12.5 years |
| 18 kW | $2.36 | $29,676 | $30,936 | 12.2 years |
| 20 kW | $2.30 | $32,256 | $35,090 | 12.0 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: It's important to read your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
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 Yellow Springs, OH Solar Cost FAQs
What is the average cost of installing solar panels in Yellow Springs?
This is a hard question to answer exactly, because the cost depends on a few different 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 be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Yellow Springs?
Leasing solar panels can be an attractive choice, because it typically 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
How will having solar panels impact my property value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't go 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 solar panels."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.