Solar Panel Cost Guide in Fairlawn, OH (Mar 2023)
- Fairlawn Solar Installation Cost: $13,996
- 25-Year Savings: $12,442
- Payback Period: 13.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Fairlawn
Let's take a look at the average cost of solar panels in Fairlawn.
The average cost of solar panels in Fairlawn is 2.56 per watt. Using this figure, a typical 7.8-kW system would cost about $13,996 before the 30% federal solar tax credit is applied.
These figures are just averages, and your own solar costs may differ based on factors unique to your home and what company you want to go with. With average savings of about $13,000 on utility bills over 20 years, many homeowners in Fairlawn find going solar has a decent ROI.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Fairlawn
| Year | Return on Investment |
|---|---|
| 1 years | $-12,938 |
| 3 years | $-10,823 |
| 5 years | $-8,708 |
| 7 years | $-6,593 |
| 9 years | $-4,478 |
| 11 years | $-2,363 |
| 13 years | $-248 |
| 15 years | $1,867 |
| 17 years | $3,982 |
| 19 years | $6,097 |
| 21 years | $8,212 |
| 23 years | $10,327 |
| 25 years | $12,442 |
Top Solar Installers in Fairlawn
Many homeowners opt for a solar panel installer since trying to install solar panels by yourself can be a lot of work. Plus, if you're unsure what kind of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.
Working with a vetted solar company can make going solar easier. 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 Fairlawn
Factors that Affect Solar Panel Costs in Fairlawn
While the average cost of a solar system in Fairlawn is $13,996, your final cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the cost of solar panels in Fairlawn, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can determine by looking at past energy bills. Your overall cost can increase by about $2,560 for each additional kilowatt you need. The model of solar panels and equipment you get is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is out of reach, 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. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can affect the cost. Fairlawn's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $9,120 | 13.8 years |
| 8 kW | $2.61 | $14,623 | $12,447 | 13.5 years |
| 10 kW | $2.56 | $17,920 | $15,917 | 13.2 years |
| 12 kW | $2.51 | $21,074 | $19,531 | 13.0 years |
| 14 kW | $2.46 | $24,084 | $23,288 | 12.7 years |
| 16 kW | $2.41 | $26,952 | $27,188 | 12.4 years |
| 18 kW | $2.36 | $29,676 | $31,231 | 12.2 years |
| 20 kW | $2.30 | $32,256 | $35,418 | 11.9 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Different companies will offer various brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, completion timeline incentives and warranties.
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 Fairlawn, OH Solar Cost FAQs
How much does it cost to install solar panels in Fairlawn?
This is a hard question to answer precisely, because the cost depends on a variety of 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 needs. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Fairlawn?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is it worth going solar in Fairlawn?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and how much 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 buy 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.