Solar Panel Cost Guide in Elyria, OH (2024 Update)
- Elyria Solar Installation Cost: $16,893
- 25-Year Savings: $16,244
- Payback Period: 14.6 Years
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Average Cost of Solar Panels in Elyria
Find out what the average cost of installing solar panels is in Elyria.
In Elyria, solar panels cost about 3 per watt on average.To account for the typical energy needs of the average home in Elyria, most homeowners require a 7.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $16,893, or $24,157 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy consumption, the type of solar system you want to get, your solar contractor and more.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $16,000 over 20 years on electricity bills.
To get a free estimate from a vetted solar installation company in Elyria, you can click the button below.
Solar savings over time in Elyria
| Year | Return on Investment |
|---|---|
| 1 years | $-15,656 |
| 3 years | $-13,182 |
| 5 years | $-10,708 |
| 7 years | $-8,234 |
| 9 years | $-5,760 |
| 11 years | $-3,286 |
| 13 years | $-812 |
| 15 years | $1,662 |
| 17 years | $4,136 |
| 19 years | $6,610 |
| 21 years | $9,084 |
| 23 years | $11,558 |
| 25 years | $14,032 |
Top Solar Installers in Elyria
When going solar, many homeowners decide to hire a solar company since putting up solar panels yourself can be a time-consuming project. Also, companies with a high reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you're searching for a solar company in Elyria, the EcoWatch team has organized a list of our top suggestions here:
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 Elyria
Factors that Affect Solar Panel Costs in Elyria
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Elyria: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $3,410 per kilowatt in Elyria.The kind 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. However, higher efficiency could save you more over time on your energy bills. In addition, extra products, like solar batteries, can bring your total well above the Elyria average.
Solar Financing Terms
Most solar installers in Elyria provide solar loans, which reduce your upfront costs of installing solar.However, the interest on solar loans also increases your overall costs, so it’s vital to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies in Elyria, and each can charge varying amounts for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — 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 go with the company that provides the products, warranties and services you want and also is within 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 | $9,629 | 15.2 years |
| 8 kW | $3.48 | $19,478 | $13,220 | 14.9 years |
| 10 kW | $3.41 | $23,870 | $17,003 | 14.6 years |
| 12 kW | $3.34 | $28,071 | $20,976 | 14.3 years |
| 14 kW | $3.27 | $32,081 | $25,141 | 14.0 years |
| 16 kW | $3.21 | $35,900 | $29,496 | 13.7 years |
| 18 kW | $3.14 | $39,529 | $34,043 | 13.4 years |
| 20 kW | $3.07 | $42,966 | $38,780 | 13.1 years |
How to Save on Solar Panels
The solar installer you opt for will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, including:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: An important thing 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 company, such as what permits you should acquire and how long the project will take.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.
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 Elyria, OH Solar Cost FAQs
What is the average cost of installing solar panels in Elyria?
This is a tough question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Are solar panels free in Elyria?
You can’t get solar panels for free in Elyria. However, you may still be able to afford 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.
Does Elyria have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using them at a lower efficiency.
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.