Solar Panel Cost Guide in Euclid, OH (Mar 2023)
- Euclid Solar Installation Cost: $14,121
- 25-Year Savings: $15,134
- Payback Period: 12.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Euclid
Find out how much it might cost to make the switch to solar in Euclid.
The national average cost of solar panels is $2.66 per watt, but in Euclid it's 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 prices above are just estimates to give you an idea of the cost of solar panels. The true cost of installing solar panels can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what installation company you go with. For most homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $14,000 in savings on energy bills over 20 years.
Click the button below to get connected to a top solar installer in your area for a personalized estimate.
Solar savings over time in Euclid
| Year | Return on Investment |
|---|---|
| 1 years | $-12,951 |
| 3 years | $-10,610 |
| 5 years | $-8,270 |
| 7 years | $-5,929 |
| 9 years | $-3,589 |
| 11 years | $-1,249 |
| 13 years | $1,092 |
| 15 years | $3,432 |
| 17 years | $5,773 |
| 19 years | $8,113 |
| 21 years | $10,453 |
| 23 years | $12,794 |
| 25 years | $15,134 |
Top Solar Installers in Euclid
Although you can install solar panels on your own, it involves extra time and know-how. That's one of the reasons almost all homeowners choose to go with a solar panel installer. Companies can also provide access to various kinds of the best solar panels and help you choose which one will be right for you.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Euclid
Factors that Affect Solar Panel Costs in Euclid
Although the average cost of a solar system in Euclid is $14,121, your final cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to consider.
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 electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $2,560 per kilowatt in Euclid. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for 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, higher efficiency could save you more over time on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Euclid average.
Solar Financing Terms
Many homeowners find the average cost of solar in Euclid to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar installer 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 Euclid, and each can charge varying amounts for labor and equipment. Companies that only sell high-quality, high-efficiency and high-price products — 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 find a company that offers the products, warranties and services you want and also fits 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 | $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
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the completion timeline.
- Contract: When reading through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Euclid, OH Solar Cost FAQs
How much does it cost to install solar panels in Euclid?
This is a difficult question to answer exactly, because the cost depends on many 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How will installing solar panels impact my home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Euclid is currently $117,145, which means you could be looking at a value of about $4,803 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Euclid is a fruitful investment.
How long do solar panels last in Euclid?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.