Solar Panel Cost Guide in Eastlake, OH (2023 Update)
- Eastlake Solar Installation Cost: $13,983
- 25-Year Savings: $13,397
- Payback Period: 12.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Eastlake
We break down average solar pricing in Eastlake.
In Eastlake, solar panels cost about 2.56 per watt on average. Using this figure, a typical 7.8-kW system would cost about $13,978 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Eastlake homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find going solar is a rewarding investment. The average homeowner in Eastlake can save around $13,000 on their energy bills over 20 years.
Click the button below to get connected to a highly rated solar company in Eastlake for a customized quote.
Solar savings over time in Eastlake
| Year | Return on Investment |
|---|---|
| 1 years | $-13,892 |
| 3 years | $-13,709 |
| 5 years | $-13,527 |
| 7 years | $-13,344 |
| 9 years | $-13,162 |
| 11 years | $-12,979 |
| 13 years | $-12,797 |
| 15 years | $-12,614 |
| 17 years | $-12,432 |
| 19 years | $-12,249 |
| 21 years | $-12,067 |
| 23 years | $-11,884 |
| 25 years | $-11,702 |
Top Solar Installers in Eastlake
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar company can make your swap to solar power much easier. Plus, if you're not certain what kind of solar panels and equipment you want, a solar expert can help you find the right equipment for you after a site survey and consultation.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Eastlake
Factors that Affect Solar Panel Costs in Eastlake
The cost of installing a solar system in Eastlake can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,560. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are available from most installers in Eastlake, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. While solar loans make adopting solar energy more accessible for Eastlake homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Eastlake is the company you get to install your PV system. Similar to choosing a company to install new cabinets, for instance, there are plenty of solar installers that offer a range of services at different price points. Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $9,871 | 13.3 years |
| 8 kW | $2.61 | $14,623 | $13,448 | 13.0 years |
| 10 kW | $2.56 | $17,920 | $17,168 | 12.8 years |
| 12 kW | $2.51 | $21,074 | $21,032 | 12.5 years |
| 14 kW | $2.46 | $24,084 | $25,039 | 12.3 years |
| 16 kW | $2.41 | $26,952 | $29,189 | 12.0 years |
| 18 kW | $2.36 | $29,676 | $33,483 | 11.7 years |
| 20 kW | $2.30 | $32,256 | $37,920 | 11.5 years |
How to Save on Solar Panels
There are numerous companies to choose from in Eastlake, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: When looking through your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Reputation: Long-running companies likely have a high 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 service, such as part repairs and replacements.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Eastlake, OH Solar Cost FAQs
How much does it cost to install solar panels in Eastlake?
The average cost of solar panels in Eastlake is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Eastlake?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The drawback 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 solar panels completely eradicate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $701.76 per year.
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 average daily 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 cover 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.