Solar Panel Cost Guide in Bay Village, OH (2023 Update)
- Bay Village Solar Installation Cost: $14,121
- 25-Year Savings: $13,259
- Payback Period: 12.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Bay Village
Find out what the average cost of solar panel installation is in Bay Village.
The national average cost of solar panels is $2.66 per watt, but in Bay Village it's 2.56 per watt. To cover the typical energy usage of the average home in Bay Village, most homeowners require a 7.9-kilowatt system. Using the figure above, a solar installation costs around $14,121, or $20,193 before the federal solar tax credit of 30% is applied.
The true cost of your system can go higher or lower than the average in Bay Village depending on a few factors, such as the type of solar panels you choose and the solar installer you hire. Many homeowners find installing a solar panel system is a rewarding investment. The average homeowner in Bay Village can save about $13,000 on their power bills over 20 years.
Click the button below to get connected to a vetted solar installer in Bay Village for a custom estimate.
Solar savings over time in Bay Village
| Year | Return on Investment |
|---|---|
| 1 years | $-13,026 |
| 3 years | $-10,835 |
| 5 years | $-8,645 |
| 7 years | $-6,455 |
| 9 years | $-4,264 |
| 11 years | $-2,074 |
| 13 years | $117 |
| 15 years | $2,307 |
| 17 years | $4,497 |
| 19 years | $6,688 |
| 21 years | $8,878 |
| 23 years | $11,069 |
| 25 years | $13,259 |
Top Solar Installers in Bay Village
When switching to solar energy, many homeowners prefer to go with a solar installation company since overseeing your solar installation yourself can be a time-consuming project. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some near you:
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 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
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The model of solar panels and equipment you want is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Bay Village, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of loans, 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 interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar company you hire to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies in Bay Village, and each can charge varying amounts for labor and equipment. The company's size can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
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 | $9,673 | 13.4 years |
| 8 kW | $2.61 | $14,623 | $13,184 | 13.1 years |
| 10 kW | $2.56 | $17,920 | $16,839 | 12.9 years |
| 12 kW | $2.51 | $21,074 | $20,636 | 12.6 years |
| 14 kW | $2.46 | $24,084 | $24,577 | 12.4 years |
| 16 kW | $2.41 | $26,952 | $28,662 | 12.1 years |
| 18 kW | $2.36 | $29,676 | $32,890 | 11.9 years |
| 20 kW | $2.30 | $32,256 | $37,261 | 11.6 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Reputation: Companies that have been operating for many years 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.
- 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 should know with your solar installer, such as what permits you should acquire and how long the project will take.
- Contract: Even though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Different companies will offer different brands and kinds 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 Bay Village, OH Solar Cost FAQs
What is the average cost of installing solar panels in Bay Village?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally 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 other solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Bay Village?
Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The downside 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
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 the amount of 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 get 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.