Solar Panel Cost Guide in Euclid, OH (2023 Update)
- Euclid Solar Installation Cost: $14,116
- 25-Year Savings: $15,140
- Payback Period: 12.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Euclid
Let's have a look at the average cost of solar in Euclid.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Euclid, the average cost of a solar system is 2.56 per watt. The average Euclid homeowner needs a 7.9-kilowatt system, which would cost about $14,121 with the federal tax credit, or $20,193 before the 30% tax credit is applied.
The true cost of your system can be above or below the average in Euclid depending on a variety of factors, such as the type of solar panels you choose and the solar contractor you hire. With average savings of about $14,000 on power bills over 20 years, many homeowners in Euclid find installing solar panels can pay off big.
Click the button below to get connected to a reputable solar installer in Euclid for a custom estimate.
Solar savings over time in Euclid
| Year | Return on Investment |
|---|---|
| 1 years | $-12,862 |
| 3 years | $-10,354 |
| 5 years | $-7,847 |
| 7 years | $-5,339 |
| 9 years | $-2,832 |
| 11 years | $-324 |
| 13 years | $2,184 |
| 15 years | $4,691 |
| 17 years | $7,199 |
| 19 years | $9,707 |
| 21 years | $12,214 |
| 23 years | $14,722 |
| 25 years | $17,229 |
Top Solar Installers in Euclid
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Using a solar company can make swapping over to solar power much easier. Also, companies with a good reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Euclid
Factors that Affect Solar Panel Costs in Euclid
For many Euclid homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Euclid, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,560. 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. On the other hand, more efficient panels could save you more in the long run on your energy bills. Additionally, extra products, such as solar batteries, can bring your total well above the Euclid average.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That's why many Euclid homeowners opt to finance their solar panel systems to make paying for solar more affordable. It's wise to factor 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 how long it'll take to pay off the loan.
Solar Panel Installation Company
The remaining key cost factor you should keep in mind is the installer you choose. Given the growing popularity of renewable energy solutions in Euclid, you'll have many options to choose from, but each comes at various price points for labor and equipment. 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 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 | $11,102 | 12.5 years |
| 8 kW | $2.61 | $14,623 | $15,089 | 12.3 years |
| 10 kW | $2.56 | $17,920 | $19,219 | 12.1 years |
| 12 kW | $2.51 | $21,074 | $23,493 | 11.8 years |
| 14 kW | $2.46 | $24,084 | $27,911 | 11.6 years |
| 16 kW | $2.41 | $26,952 | $32,471 | 11.3 years |
| 18 kW | $2.36 | $29,676 | $37,175 | 11.1 years |
| 20 kW | $2.30 | $32,256 | $42,023 | 10.9 years |
How to Save on Solar Panels
There are numerous companies to choose from in Euclid, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Contract: When reading over your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- 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 positive reviews from past customers.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Euclid, OH Solar Cost FAQs
How much does it cost to install solar panels in Euclid?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $12,800 for a 5-kW system and $25,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Euclid?
The majority of states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates 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 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 requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.