Solar Panel Cost Guide in Euclid, OH (2024 Update)
- Euclid Solar Installation Cost: $18,803
- 25-Year Savings: $15,140
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Euclid
Find out what the average cost of installing solar panels is in Euclid.
The average cost of a solar system in Euclid is 3 per watt.The average Euclid homeowner needs a 7.9-kilowatt system, which would cost about $18,803 with the federal tax credit, or $26,888 before the 0 tax credit is applied.
These figures are only estimates, and the cost of going solar for you will most likely look different based on the amount of energy your home requires and what company you choose to go with.For most homeowners, the upfront investment in solar is worth paying. On average Euclid homeowners see about $14,000 in savings on energy bills over 20 years.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Euclid
| Year | Return on Investment |
|---|---|
| 1 years | $-17,549 |
| 3 years | $-15,041 |
| 5 years | $-12,534 |
| 7 years | $-10,026 |
| 9 years | $-7,518 |
| 11 years | $-5,011 |
| 13 years | $-2,503 |
| 15 years | $4 |
| 17 years | $2,512 |
| 19 years | $5,020 |
| 21 years | $7,527 |
| 23 years | $10,035 |
| 25 years | $12,542 |
Top Solar Installers in Euclid
Trying to install solar panels yourself can be a stressful project, which is why hiring a solar installation company is a good option for many homeowners. The expertise that solar installers offer can be invaluable as well, especially if you aren’t sure what brand of solar equipment would be right for your home.
If you're searching for a solar installer in Euclid, the EcoWatch team has organized 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 Euclid
Factors that Affect Solar Panel Costs in Euclid
For many Euclid homeowners, the decision to adopt solar energy comes down to 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 a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,410.There are a lot of different solar panel brands and the one you choose also affects the cost. In general, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable route because they lower your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also adds to your overall costs, so it’s important to keep that in mind as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Euclid, and each can charge varying amounts for labor and equipment.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $7,389 | 16.7 years |
| 8 kW | $3.48 | $19,478 | $10,234 | 16.4 years |
| 10 kW | $3.41 | $23,870 | $13,269 | 16.1 years |
| 12 kW | $3.34 | $28,071 | $16,496 | 15.7 years |
| 14 kW | $3.27 | $32,081 | $19,914 | 15.4 years |
| 16 kW | $3.21 | $35,900 | $23,522 | 15.1 years |
| 18 kW | $3.14 | $39,529 | $27,322 | 14.8 years |
| 20 kW | $3.07 | $42,966 | $31,313 | 14.5 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: It’s important to read your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Solar Panel Brands: Different companies will carry various brands and types of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
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
What is the average cost of installing solar panels in Euclid?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly 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 cost more if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Are solar panels free in Euclid?
You can’t get solar panels for free in Euclid. 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 rather own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Euclid?
The majority of states have net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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 install 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.