Solar Panel Cost Guide in Canfield, OH (2024 Update)
- Canfield Solar Installation Cost: $18,726
- 25-Year Savings: $12,379
- Payback Period: 17.7 Years
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Average Cost of Solar Panels in Canfield
We go over average solar pricing in Canfield.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Canfield, the average cost of a solar system is 3 per watt.The average solar panel system size in Canfield is around 7.8 kilowatts, meaning a cost of about $18,726 for a solar installation, or $26,778 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of going solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what company you go with.Many homeowners find adopting solar power is a solid investment. The average homeowner in Canfield can save around $13,000 on their electricity bills over 20 years.
To receive a free quote from a top solar installation company in Canfield, you can click the button below.
Solar savings over time in Canfield
| Year | Return on Investment |
|---|---|
| 1 years | $-17,506 |
| 3 years | $-15,065 |
| 5 years | $-12,625 |
| 7 years | $-10,184 |
| 9 years | $-7,744 |
| 11 years | $-5,303 |
| 13 years | $-2,863 |
| 15 years | $-422 |
| 17 years | $2,018 |
| 19 years | $4,459 |
| 21 years | $6,899 |
| 23 years | $9,340 |
| 25 years | $11,780 |
Top Solar Installers in Canfield
Many homeowners decide to use a solar installer since trying to put up solar panels on your own can be challenging. Some solar installers, especially local ones, can help you make the most of incentives in Canfield, optimizing your ROI.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Canfield
Factors that Affect Solar Panel Costs in Canfield
For many Canfield homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Canfield, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,410.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Canfield, where sunlight isn’t as abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Canfield have solar loans, which reduce your upfront costs of installing a solar system.You’ll have to consider the long-term cost of financing options, including the total 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar company you choose to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Canfield, and each can charge different amounts for labor and equipment.The company’s size sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more 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 promotion can bring their pricing lower to compete with bigger names.
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 | $5,325 | 18.4 years |
| 8 kW | $3.48 | $19,478 | $7,482 | 18.1 years |
| 10 kW | $3.41 | $23,870 | $9,830 | 17.7 years |
| 12 kW | $3.34 | $28,071 | $12,369 | 17.4 years |
| 14 kW | $3.27 | $32,081 | $15,099 | 17.0 years |
| 16 kW | $3.21 | $35,900 | $18,019 | 16.6 years |
| 18 kW | $3.14 | $39,529 | $21,131 | 16.3 years |
| 20 kW | $3.07 | $42,966 | $24,434 | 15.9 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Warranty: If you’re worried about the endurance of your solar panel system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Read the contract terms carefully to make sure you understand the total cost, project completion timeline incentives and warranties.
- Installation Process: When making the switch to solar energy, it’s essential to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process works and the project completion timeline.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Canfield, OH Solar Cost FAQs
What is the average cost of installing solar panels in Canfield?
This is a hard question to answer exactly, because the cost depends on many 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 higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Canfield?
Leasing solar panels can be an appealing choice, as 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 option if you want to get the most savings.
Can you sell solar power back to the grid in Canfield?
The majority of states have net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs 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 home 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.