Solar Panel Cost Guide in Bay Village, OH (2024 Update)
- Bay Village Solar Installation Cost: $18,803
- 25-Year Savings: $13,264
- Payback Period: 17.2 Years
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Average Cost of Solar Panels in Bay Village
We go over average solar pricing in Bay Village.
Although the national average of solar panels is $2.66 per watt, solar panels in Bay Village typically cost around 3.The average Bay Village homeowner needs a 7.9-kilowatt system, which would cost about $18,803 with the federal tax credit, or $26,888 before the 0 tax credit is applied.
These figures are just averages, and the cost of going solar for you will most likely differ based on your energy needs and what company you choose to go with.But, after you've paid the initial cost of installation, the savings for most homeowners is quite good, with a net average savings of about $13,000 over 20 years on power bills.
To receive a free quote from a top solar installer in Bay Village, you can click the button below.
Solar savings over time in Bay Village
| Year | Return on Investment |
|---|---|
| 1 years | $-17,549 |
| 3 years | $-15,041 |
| 5 years | $-12,534 |
| 7 years | $-10,026 |
| 9 years | $-7,518 |
| 11 years | $-5,011 |
| 13 years | $-2,503 |
| 15 years | $4 |
| 17 years | $2,512 |
| 19 years | $5,020 |
| 21 years | $7,527 |
| 23 years | $10,035 |
| 25 years | $12,542 |
Top Solar Installers in Bay Village
Installing solar panels on your own can be a challenging undertaking, which is why getting a solar installer is a good option for many homeowners. Local solar installers can also help you optimize your return on investment by assisting with any local incentives you can benefit from and by offering warranties and repairs.
If you’d like to switch to solar energy but still aren’t sure which solar company to go with, here are our suggestions for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Bay Village
Factors that Affect Solar Panel Costs in Bay Village
For many Bay Village homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Bay Village, 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 size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,410. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your energy bills. Additionally, add-on products, like solar batteries, can bring your total well above the Bay Village average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Bay Village, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installation company you select will influence your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that offers the products, warranties and services you want and also fit into your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.55 | $14,895 | $5,960 | 17.9 years |
| 8 kW | $3.48 | $19,478 | $8,329 | 17.5 years |
| 10 kW | $3.41 | $23,870 | $10,889 | 17.2 years |
| 12 kW | $3.34 | $28,071 | $13,639 | 16.8 years |
| 14 kW | $3.27 | $32,081 | $16,581 | 16.5 years |
| 16 kW | $3.21 | $35,900 | $19,713 | 16.1 years |
| 18 kW | $3.14 | $39,529 | $23,037 | 15.8 years |
| 20 kW | $3.07 | $42,966 | $26,551 | 15.5 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose has an impact on 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:
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: The kind of solar panel you want to install plays a role in which installer you should go with, since different companies provide different panels.
- Contract: It’s important to read your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Reputation: Long-running companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Bay Village, OH Solar Cost FAQs
How much does it cost to install solar panels in Bay Village?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Bay Village?
You can’t get solar panels for free in Bay Village. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase how much your home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Bay Village is currently $366,911, which means you can look forward to a value of about $15,043 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Bay Village is a worthwhile investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.