Solar Panel Cost Guide in Beachwood, OH (2023 Update)
- Beachwood Solar Installation Cost: $14,121
- 25-Year Savings: $17,010
- Payback Period: 11.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Beachwood
We break down average solar pricing in Beachwood.
The average cost of a solar system in Beachwood is 2.56 per watt. The average solar panel system size in Beachwood is around 7.9 kilowatts, meaning a cost of about $14,121 for a solar installation, or $20,193 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy needs, the type of solar system you want to get, your solar contractor and more. Despite the large initial cost, the average Beachwood homeowner can save about $15,000 on their energy bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a highly rated solar company in Beachwood for a custom estimate.
Solar savings over time in Beachwood
| Year | Return on Investment |
|---|---|
| 1 years | $-12,876 |
| 3 years | $-10,385 |
| 5 years | $-7,895 |
| 7 years | $-5,404 |
| 9 years | $-2,914 |
| 11 years | $-423 |
| 13 years | $2,067 |
| 15 years | $4,557 |
| 17 years | $7,048 |
| 19 years | $9,538 |
| 21 years | $12,029 |
| 23 years | $14,519 |
| 25 years | $17,010 |
Top Solar Installers in Beachwood
Many homeowners decide to use a solar installer since installing solar panels by yourself can be hard. Plus, if you aren't sure what type of solar panels and equipment you may need, a solar expert can help you figure that out after a site survey and consultation.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
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 Beachwood
Factors that Affect Solar Panel Costs in Beachwood
Although the average cost of a solar system in Beachwood is $14,121, your final cost may be above or below the average. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $2,560 per kilowatt in Beachwood. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Beachwood to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest. When estimating your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Beachwood is the company you choose to install your PV system. As with choosing a company to build a deck or pool, for instance, you'll have many options for solar installers that provide a range of services at different costs. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $12,530 | 11.8 years |
| 8 kW | $2.61 | $14,623 | $16,993 | 11.6 years |
| 10 kW | $2.56 | $17,920 | $21,600 | 11.3 years |
| 12 kW | $2.51 | $21,074 | $26,350 | 11.1 years |
| 14 kW | $2.46 | $24,084 | $31,244 | 10.9 years |
| 16 kW | $2.41 | $26,952 | $36,281 | 10.7 years |
| 18 kW | $2.36 | $29,676 | $41,461 | 10.4 years |
| 20 kW | $2.30 | $32,256 | $46,784 | 10.2 years |
How to Save on Solar Panels
The solar installer you go with will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, such as:
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Installation Process: Make sure you're aligned with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, project timeline incentives and warranties.
- Solar Panel Brands: The type of solar panel you want plays a part in which installer you should choose, since different companies offer different panels.
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 Beachwood, OH Solar Cost FAQs
How much does it cost to install solar panels in Beachwood?
The average cost of solar panels in Beachwood is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Beachwood?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Can solar panels significantly reduce my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Beachwood, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.