Solar Panels Cost 9.8k-19k in Lebanon, OH | November, 2024

Solar Panels Cost $9.8k-$19k in Lebanon, OH | November, 2024

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How much do solar panels cost in Lebanon, OH in 2024?

Going solar in the month of November, 2024 in Lebanon, OH costs $3.51/W.

Expect costs to be $3,510, on average, for every 1000 watts (or 1 kW) of solar energy your solar panels will need to generate. We are able to come to this conclusion by using the rate price cost. In Lebanon, the cost of a 5 kW system is generally $12,285, after a 30% federal tax credit. A more powerful system could be needed to ensure your energy requirements are met.

To the left, you have the option to select your county and see the typical roof size along with the average maximum capacity for residential solar in homes in your area. Below is a detailed summary of the costs, payback period, and 20-year average savings for a 5 kW system installed in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Lebanon: $12,285US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Lebanon: 8 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Lebanon: $11,723US Average: $16,169

Solar Potential in Lebanon

Estimated system size and solar electricity production per median viable roof in
Lebanon.

Roof size 715sq. ft.
Capacity 10kW DC
Electricity 11.6kkWh AC per yr.

Electricity Costs in Lebanon, OH & What that Means for Your Solar Panel Pricing

The typical energy consumer in Lebanon has a monthly electric bill of $121.97 and uses 825 kWh on average. Compact apartments are also encompassed in the numbers noted in the prior sentence. The lower energy use in these types of dwellings impacts those averages.

As of November 2024, the average rate for electricity per kWh in Lebanon, OH is 14.79¢.

In Lebanon, average users has to have a system size of 8 kW or greater to fully take care of all of their energy usage requirements. Before incentives, an 8 kW solar system is around $28,080, with the federal tax credit returning 30% of your investment amount, reducing the price to $19,656.

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Average solar panel costs by system size in Lebanon

To the left and below, you can find a detailed pricing breakdown for various solar panel system sizes installed in Lebanon. While a larger solar installation does come with a higher price tag, it also offers increased electricity savings and larger income tax credits.

Check a cost benefit analysis in the solar panel cost calculator down and to the right, for an average electric bill of $121.97 in Lebanon. Modify the $121.97 to your usual electricity bill payment for customized results.

System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $818 a year
Est. Price
$9,828
Savings from a 4kWthis system
  • Est. yearly production 5,454 kWh
  • Est. monthly savings $68
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 3.28 tons a year
  • Equivalent to planting 151 trees a year
  • Equivalent to driving 8,130 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,023 a year
Est. Price
$12,285
Savings from a 5kWthis system
  • Est. yearly production 6,817 kWh
  • Est. monthly savings $85
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 4.11 tons a year
  • Equivalent to planting 189 trees a year
  • Equivalent to driving 10,162 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,227 a year
Est. Price
$14,742
Savings from a 6kWthis system
  • Est. yearly production 8,181 kWh
  • Est. monthly savings $102
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 4.93 tons a year
  • Equivalent to planting 226 trees a year
  • Equivalent to driving 12,195 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,432 a year
Est. Price
$17,199
Savings from a 7kWthis system
  • Est. yearly production 9,544 kWh
  • Est. monthly savings $119
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 5.75 tons a year
  • Equivalent to planting 264 trees a year
  • Equivalent to driving 14,227 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,636 a year
Est. Price
$19,656
Savings from a 8kWthis system
  • Est. yearly production 10,907 kWh
  • Est. monthly savings $122
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 5.88 tons a year
  • Equivalent to planting 270 trees a year
  • Equivalent to driving 14,549 mi less a year

Lebanon Solar Panel Installation Incentives & Rebates | 2024

For rural farms and small businesses, the REAP Grant might currently cover between 80% and 100% of the expenses for installing solar or wind energy systems. Curious if you fit this category? Confirm your eligibility with our REAP Grant eligibility tool.

Nearly all residents are eligible for the 30% federal income tax credit for residential solar, which makes it a practical option in many states in the country. In addition to the federal incentives, state and local programs also aim to boost solar energy uptake.

Ohio provides 15 solar rebates and incentives from multiple utility companies and government organizations.

Solar incentives in OH

Advanced Energy Fund

Value:Varies

The Ohio Advanced Energy Fund is the backbone of Ohio's statewide energy efficiency incentive and financing system, though it does not directly service or disburse loans itself. Funding is acquired through utility compliance fees or customer surcharges. From time to time, AEF administrators will announce a request for proposals on new energy projects within different sectors of the Ohioan economy. Grants from the fund may be awarded to winning proposals. Fund-supported programs do not apply to customers of local public utilities or cooperatives.

Qualified Energy Property Tax Exemption for Projects 250 kW or Less

Value:Varies

Ohio offers state real and personal property tax exemptions on renewable energy devices. Any system built in/after 2010, rated for under 250 kW, and using solar, wind, biomass, or another renewable technology is considered fully exempt for its entire useful life. System parts, structural components, and equipment used to interconnect the system to a utility grid also qualify. Additional information and application forms are available from the Ohio Development Services Agency.

Energy Loan Fund (ELF)

Value:Varies

The Ohio Energy Loan Fund is administered by the Department of Development's Office of Energy Efficiency. The ELF is supported by the state Advanced Energy Fund and payments from the state's four private utilities. ELF funds support energy efficiency loans for small commercial, industrial, nonprofit, and public-sector property. Funding is allocated proportionally across each of these economic sectors. The nature of the fund means that customers of local public utilities or cooperatives may not be eligible for financing. Additional information is available through the OEE website.

Energy Loan Fund

Value:Varies

The Ohio Energy Loan Fund is managed by the Department of Development and is supported by the state's Advanced Energy Fund. Loans from the ELF support small businesses (under 500 employees), businesses producing manufactured goods, and public-sector agencies/nonprofits. The available principal for an ELF loan ranges from $250 thousand to $2 million. Qualifying projects should be approved by an energy auditor and cut energy consumption by at least 15%. Additional information, including a directory of loan servicers, is available from the Ohio Development Services Agency website.

Qualified Energy Property Tax Exemption for Projects over 250 kW (Payment in Lieu)

Value:Varies

Ohio offers state real and personal property tax exemptions on large renewable energy devices. Any system built in/after 2010, rated for over 250 kW, and using solar, wind, biomass, or another renewable technology is considered fully exempt for its entire useful life. System parts, structural components, and equipment used to interconnect the system to a utility grid also qualify. As conditions for the exemption, the system owner is required to create a minimum amount of jobs and enter REC purchase agreements with utilities. Systems over 2 MW may be subject to additional requirements.

Advanced Energy Job Stimulus Program

Value:Varies

The Advanced Energy Job Stimulus Fund supports job creation, manufacturing, and renewable energy research and development in the state. Initial funding for the first three years totaled $150 million from the state's general reserves. Funding is awarded to businesses through special bonds completely exempt from state taxes. A bond's amount is based on the applicant's credit history and the projects which will be funded. Small grants may be awarded to startups investing or researching potential disruptive technologies in the energy sector. Additional information is available from the Department of Development website.

Energy Conversion and Thermal Efficiency Sales Tax Exemption

Value:Varies

In Ohio, sales/use tax exemptions are available for equipment that improves thermal efficiency or converts oil/gas to an alternate sustainable fuel. Equipment used to convert solid waste into fuel may also qualify. To claim the exemption, the facility owner should obtain a certification number through the Ohio Department of Taxation. Additional information is available from the departmental website.

Solar Renewable Energy Certificates Program (SRECs)

Value:Varies

Compliance with solar carve-out provisions of the Ohio Alternative Energy Resource Standard is tracked using a solar renewable energy certificate (SREC) system. An SREC is equivalent to one megawatt hour of electrical capacity. The monetary value of an SREC fluctuates with market forces. Any solar PV, thermal, or HVAC system in Ohio is capable of generating SRECs upon registration with the state Public Utilities Commission. Once registered, utilities may purchase certificates from customers at fair market value to meet their AERS quota. Should a utility fail to meet its SREC quota in a given year, it will pay a "penalty" compliance fee per megawatt hour/certificate it is deficient. Fine revenue supports the Advanced Energy Fund, and it may not be projected onto customers.

Energy Conservation for Ohioans (ECO-Link) Program

Value:Varies

Through the Ohio state treasury's ECO-Link initiative, homeowners in Ohio may be eligible for special energy improvement loans through a variety of banking partners. Qualifying projects include the full breadth of energy efficiency solutions, including windows, insulation/weatherization, central and room HVAC, water heating, large appliances, solar PV arrays, and wind turbines under 100 kW. Only projects approved by a program auditing representative will be approved for funding. Standard credit checks and prior approval from the customer's bank apply. Additional information is available from the Ohio Treasurer's website.

Energy Efficiency and Sustainable Design in New School Construction

Value:Varies

New public and private school buildings in Ohio are required to meet certain green building standards. Should a school meet these standards, it will receive financial assistance from the Ohio School Facilities Commission. At a minimum, buildings should seek to meet the specialty LEED Gold certification for schools, though existing projects may strive for Silver certification. Later amendments to the standards required schools to be "solar-ready." If a new school does not already have rooftop solar PV panels installed, it should be equipped to accommodate a future PV system. Additional information is available from the Ohio Facilities Construction Commission website.

First Energy Ohio - Renewable Energy Credit Procurements

Value:Varies

On occasion, FirstEnergy will seek renewable energy project proposals to fortify its renewable energy credit (REC) purchasing portfolio. The utility is interested in both long and short-term purchase agreements to acquire between 5,000 and 20,000 RECs per year. Facilities should seek certification from the Ohio Public Utilities Commission. Additional details on the application process are available from the website.

Green Energy Ohio - GEO Solar Thermal Rebate Program

Value:Varies

Ohio homeowners may be eligible for rebates on new solar water heaters from a Green Energy Ohio/Sierra Club initiative. A customer's expected rebate will be based on their system's expected performance. Current base rates are $30/daily kBtu, with a maximum allowable rebate equal to 20% of project costs. To qualify for the rebate, a customer must seek project preapproval from Green Energy Ohio, obtain engineering surveys, and use a participating contractor. Installation can begin six months from preapproval at the latest. The rebate will be awarded after a successful final inspection from both GEO and the customer's local building department. Additional information is available from the GEO website.

Net Metering

Value:Varies

All private/municipal utilities and electrical cooperatives in Ohio are required to offer net metering to their renewable energy customers. Any solar, wind, biomass, fuel cell, or landfill gas system qualifies so long as it meets state interconnection standards and its capacity does not exceed customer demands. Net metering participants will have a bidirectional meter installed to measure net excess generation (NEG) sent back to the grid. The utility will issue monthly bill credits for NEG at a fixed avoided-cost rate. Special net metering programs are available for hospitals, who may use conventional or renewable energy technologies.

Interconnection Standards

Value:Varies

In 2014, Ohio's utility regulator made amendments to distributed generation and grid interconnection standards. All new renewable energy devices being connected to the power grid will be sorted into one of three capacity levels governing permit processes, fees, review turnaround time, and required IEEE/UL performance and safety specifications. Utilities may require system owners to install external disconnect switches or carry liability insurance, but they are limited to asking for proof of insurance rather than setting a minimum policy amount. Additional information is available from the Ohio Public Utilities Commission website.

Alternative Energy Portfolio Standard

Value:Varies

Ohio first adopted its mandatory Alternative Energy Portfolio Standard in 2008. All private utilities are required to participate; local public utilities and cooperatives may contribute voluntarily to the standard. Current AEPS goals require at least 25% of the state's retail electricity to be generated using renewable technology by 2025. Carve-out policies require a portion of annual RPS quotas to be met using solar energy. Compliance is measured using a renewable energy credit (REC) system pegging one megawatt hour to a fluctuating dollar amount. All operational renewable energy systems generate RECs, but utilities may purchase credits from customers using net metering or other power purchase agreements. Credits will expire after five years. Should a utility fail to meet its REC quota, it will be assessed a penalty fine for each megawatt hour it is deficient. Fine revenue goes to the Ohio Advanced Energy Fund.

Are solar panels worth it in Ohio?

If you foresee living in your home longer than the solar system's payback period, installing solar panels is an smart decision in Lebanon. By installing a 5 kW solar system in Lebanon, OH, you can expect to save approximately $16,987.8 over 20 years, with the break even point typically being 8 years.

The cost of not having solar panels in Lebanon, OH

Failing to have solar panels or an alternative backup energy results in missing the savings mentioned earlier and being completely reliant on your electric utility for electricity. Numerous recent examples in the news have highlighted that complete reliance on your utility company is not always the best option.

In recent times, utilities in Lebanon have recorded an average of 0.81 outages per customer annually. Typically, outages have an average duration of 91.53 minutes. However, during significant events such as thunderstorms, wildlife damage, or grid management errors, these times can drastically increase.

A solar panel system, whether or not it has a backup battery, could reduce the impact of future outages you might experience.

Power Outages

Currently, 0 customers are being tracked in Warren County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Lebanon, OH?

Your Energy Needs - Investing in larger solar panel systems costs more upfront, but the price per watt is lowered as the system size grows. For most homeowners, setting up a system that can generate enough power to eliminate their entire electric bill is useful, providing significant savings.

Make & Model - Solar panels, like many other products, are available in various makes and models. Your contractor’s potential brand preferences make it crucial to choose a reputable contractor. For buyers desiring a more favorable long-term experience, investing in superior quality makes and models is critical.

Solar Panel Type - The standard in the industry is now monocrystalline panels, and justifiably so. These panels have a higher cost but yield more energy. The majority of installers in the industry work with panels constructed of this material.

Your Property - Trees, uneven landscapes, or other obstacles can increase the complexity of the installation. These days, solar installers can leverage satellite images to assess your home and factor in these factors into the first cost estimate.

Labor Rates - Companies compensate their employees in varying amounts, and these costs are borne by consumers. Companies that invest in higher wages often see higher reviews for their work and customer service.

Permitting & Interconnection - Local permitting and utility interconnection fees, which vary by region, will influence your final installation cost. Reliable local installers will build these figures into your preliminary estimates to prevent any surprises.

See what solar panels cost in other OH cities

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Who are the best solar installers in Lebanon?

YellowLite

Cleveland, OH(216) 333-1364

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Reparation of solar arrays.

Paradise Energy Solutions

Paradise CDP, PA(877) 851-9269

Services

  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Installation of solar arrays.
  • Monitoring of independent energy generation.
  • Auditing of energy requirements for independent energy generation.
  • Reparation of solar arrays.
  • Solar systems for selling electricity back to the grid.

Micrometer Engineering

Scottsdale, AZ(602) 790-5749

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.

Terrasmart

Cincinnati, OH(513) 242-2051

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.
  • Installation of batteries for energy storage.
  • Reparation of solar arrays.

Core Development Group

(201) 825-2195

Services

  • Consulting on all things solar related.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Solgen Power

Pasco, WA(855) 709-1181

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

Appalachian Renewable Power Systems

Stewart CDP, OH(740) 498-0498

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Reparation of solar arrays.
  • Installation of solar arrays.
  • Monitoring of independent energy generation.

Power Home Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of batteries for energy storage.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Solar systems for selling electricity back to the grid.

Dividend Finance

Cincinnati, OH(415) 805-7000

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.

Palmetto Solar

Charleston, SC(855) 339-1831

Services

  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Reparation of solar arrays.

Entero Energy

Austin, TX(512) 551-0742

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.
  • Installation of batteries for energy storage.
  • Reparation of solar arrays.
  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.

Silver Sun Solar

Deltona, FL(407) 832-42452

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.

EIS Solar

Pittsburgh, PA(888) 633-6451

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

Harvest Solar

Jackson, MI(888) 907-6527

Services

  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.

Fluent Solar

Lehi, UT(844) 220-7415

Services

  • Monitoring of independent energy generation.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Sunnova Energy

Houston, TX(866) 786-6682

Services

  • Monitoring of independent energy generation.
  • Installation of batteries for energy storage.
  • Reparation of solar arrays.
  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Reparation of batteries.
  • Solar systems for selling electricity back to the grid.

GRNE Solar

Palatine, IL(312) 859-3417

Services

  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.

Sigora Solar

Charlottesville, VA(434) 465-6192

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Ideal Energy

Fairfield, IA(800) 634-4454

Services

  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Reparation of solar arrays.
  • Installation of solar arrays.

Ohio Power Solutions

London, OH(740) 908-1040

Services

  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Consulting on all things solar related.
  • Installation of solar arrays.

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

PowerHome Solar

Mooresville, NC(704) 870-3670

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

Empire Solar Group

Salt Lake City, UT(800) 467-4562

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.

Precision Renewables

Snyderville CDP, UT(435) 602-4120

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.

Icon Solar

Milford, OH(513) 396-7777

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.

Lebanon, OH Solar Panel Cost FAQs

  • The cost per watt for solar panels in Lebanon, OH during November of 2024 averages $3.51/W. After federal tax credits, the installation of a 5 kW solar panel system in Lebanon, OH is estimated to cost $12,285.
  • Currently, Ohio residents can benefit from 15 rebates and incentives available through various utilities and government bodies. On top of that, nearly everyone can qualify for the 30% federal tax credit.
  • Even though cash payments yield the greatest savings, several financing options for solar panels today are also financially beneficial. Information about financing options is typically included in initial quotes provided by installers.
  • Yes, in Lebanon, OH, 5 kW solar panel systems typically pay off in 8 years, and users save around $16,987.8 in electricity costs over 20 years.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-11-01