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.
Although the national average of solar panels is $2.66 per watt, solar panels in Elyria typically cost around 3.To account for the typical energy needs of the average home in Elyria, most homeowners require a 7.1-kilowatt system. Using the figure above, a solar installation costs about $16,893, or $24,157 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average Elyria 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.For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Elyria see about $16,000 in savings on utility bills over 20 years.
To calculate your potential savings and connect with a local solar installer, 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 opt to go with a solar company since putting up solar panels yourself can be a challenging project. Plus, if you’re unsure what type of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.
If you're searching for a solar company in Elyria, we've compiled a list of our top suggestions here:
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 Elyria
Factors that Affect Solar Panel Costs in Elyria
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that determine your overall cost in Elyria: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That’s why it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Elyria, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of 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
If paying for a solar system out of pocket is difficult, solar loans are an affordable choice because they reduce your upfront costs and let you pay for your system over five to seven years on average.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can impact the cost. Elyria’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $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
There are a lot of companies to choose from in Elyria, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Different companies offer various brands and types of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases offer high-quality solar panel installation and expertise.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Elyria, OH Solar Cost FAQs
How much does it cost to install solar panels in Elyria?
The average cost of solar panels in Elyria is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Elyria?
You can’t get solar panels for free in Elyria. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Does Elyria have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Elyria?
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 the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use 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.