Solar Cost: Why Manufacturer's Matter!

Posted by K.N. Jackson on Jul 3, 2020 4:10:00 PM

Do you live in Ohio, and wonder about the cost of solar panel installation? According to EnergySage.com, Ohio has the LOWEST solar installations costs in the entire Midwest!!

 

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There's so much to consider! The panels, the choice of inverters, installation methods that are right for your home...Where does one even start on a solar panel decision-making journey?

How about with this one question: Do I want to buy foreign, or USA-made panels?

That question will determine the companies you seek your quotes from, considering that some installation companies have preferred products they offer or have access to procuring upon request. 

The best way to determine if a solar panel is right for you is to look not just at consumer reviews, but the performance specifications, materials used to construct it, and its warranty program, as some warranties are better than others.

For example, the average cost per watt of solar panels in the USA in 2020 is $2.79. If you need a 10 kilowatt (kW) system to cover all of your energy needs, and a watt is 1000 kilowatts, the panels alone for your home could cost up to $27,900, not including additional devices and materials necessary to convert the panels' energy into usable power, and carry it to your electric box. Micro-inverters are one such example of additional devices, and you would need one (1) micro-inverter for each panel you install. Theses devices can run from $120-$200 apiece.

Below is a short, 2-min. video from EnergySage.com that explains how the cost of solar panels are calculated.

 

 

 

 

 Take Your Time

Yes, the cost isn't small, but don't run for the hills just yet! Those prices above are generalized estimations that may or may not be as expensive in your area, and they don't include the 26% Solar Incentive Tax Credit (ITC) that all but pays for the cost of the installation! While larger systems do cost more, they also result in the highest long-term return on investment (ROI). 

So the most pertinent question to ask yourself is: How forward-thinking am I? Do I see this investment in solar in perspective, as a long-term ROI, or am I so blindsided by the immediate costs that I can only see the initial capital expense before getting scared away from the prospect altogether?

It all depends on your chosen outlook. Not everyone has the money to invest, in which case a solar loan with a reduced 3% loan interest rate may be available to you. Loan interest deductions aren't available for other products out there, like cars and electronics. That's part of what makes solar such a unique investment opportunity! You can get incentives not offered to any other sector of industry that boost consumer interest and help drive the growing solar trends.

 

 Home, Sweet Home!

 

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If you're like me, you strongly support local business! American-made products appear increasingly difficult to find, but luckily we live in an era when awareness about the importance of buying local is far more prevalent than in recent decades.

While the larger solar panel manufacturers may be able to provide foreign-made products at slightly lower costs, that conclusion isn't always foregone. Sometimes the cost of shipping, in addition to labor, and taxes paid, may drive up the cost of foreign-made panels beyond what a US-based manufacturer may charge. 

Looking into all of your options, therefore, is vital when deciding which products result in the best performance for the best price!

To make that decision easier, take a look at some of the most common solar manufacturers out there, both foreign and domestic, and compare general costs to decide if buying American may be the better option for you!

 

 Foreign-based Solar Panel Manufacturers:

 

Company Based In: Manufacture Location: Price per 6kW System Price per 10kW System
Astronergy  China Thailand $17,460 – $19,500 $29,100 – $32,500
China Sunergy  China China $14,760 – $16,560 $24,600 – $27,600
Canadian Solar Inc. Canada Canada, Asia, & Brazil $15,780 – $19,500  $26,300 – $32,500
Hansol S. Korea S. Korea $13,860 – $14,580 $23,100 – $24,300
Hyundai  S. Korea S. Korea $14,820 – $18,540 $24,700 – $30,900
JA Solar China India $15,960 – $19,080 $26,600 – $31,800
Jinko Solar  China China & Malaysia $16,260 – $20,700 $27,100 – $34,500
Peimar Group Italy China $14,280 – $17,880 $23,800 – $29,800
Phono Solar China China $15,240 – $15,240 $25,400 – $25,400
Renewable Energy Corp. Norway Singapore $13,740 – $17,820 $22,900 – $29,700
Silfab Solar Canada Canada $14,820 – $19,980 $24,700 – $33,300
Trina Solar China China $14,940 – $18,300 $24,900 – $30,500
Winaico Taiwan Taiwan $16,620 – $17,220 $27,700 – $28,700
Yingli Solar China China $16,680 – $19,200 $27,800 – $32,000
         
*Note: All prices are estimations. Exact costs will vary according to customer.  
*Note: All prices are listed AFTER 26% tax deduction.    

 

 USA-based Solar Panel Manufacturers:

 

Company Based In: US Manufacture Location: Price per 6kW System Price per 10kW System
Axitec Germany NJ & CA, USA $15,060 – $17,820 $25,100 – $29,700
Centrosolar Germany Arizona, USA $16,920 – $18,240 $28,200 – $30,400
Hanwha Q CELLS  Korea Georgia, USA $15,180 – $19,500 $25,300 – $32,500
Heliene Canada Minnesota, USA $13,620 – $17,940 $22,700 – $29,900
LG Solar China Alabama, USA $15,840 – $19,800 $26,400 – $33,000
LONGi Solar China San Ramon, CA  $14,220 – $16,380 $23,700 – $27,300
Mission Solar Energy USA San Antonio, TX $13,800 – $17,640 $23,000 – $29,400
Panasonic Solar  Japan New York, USA $15,840 – $20,040 $26,400 – $33,400
RECOM France CA, USA $18,840 – $18,840 $31,400 – $31,400
S-Energy S. Korea CA, USA $15,360 – $21,240 $25,600 – $35,400
SolarWorld Germany Oregon, USA $14,220 – $20,460 $23,700 – $34,100
Solaria USA US & Asia $17,460 – $21,060 $29,100 – $35,100
SunPower Corp. USA USA, Asia & Mexico $16,980 – $22,980 $28,300 – $38,300
         
*Note: All prices are estimations. Exact costs will vary according to customer.  
*Note: All prices are listed AFTER 26% tax deduction.    

 

And as a point of interest, if you're wondering about by-state metrics, below is a brief chart detailing the general costs of solar panel installation in the state of Ohio.

Remember: All numbers are averages, and calculate out the tax credit you can receive.

 

State Avg. Price per Watt Avg. $ of 6kW System Avg. $ of 10kW System
Ohio $2.79 $10,967 – $13,808 $18,278 – $23,014
       
*Note: All prices are listed AFTER 26% tax deduction.  
*Note: All prices are estimations. Exact costs will vary according to customer.

 

Have questions about whether going solar works for your home or property? Click on the link below to consult with a McClintock Solar Specialist and receive a FREE assessment!

 

Get My Free Assessment!

 

Topics: PV panels, solar, renewable energy, solar panels

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