Solar Panel Cost Guide in Fairview Park, OH (2023 Update)
- Fairview Park Solar Installation Cost: $14,116
- 25-Year Savings: $17,015
- Payback Period: 11.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Fairview Park
We go over average solar pricing in Fairview Park.
In Fairview Park, solar panels cost about 2.56 per watt on average. To cover the typical energy needs of the average home in Fairview Park, most homeowners require a 7.9-kilowatt system. Using the per-watt figure above, a solar installation costs around $14,121, or $20,193 before the federal solar tax credit of 30% is applied.
How much you pay can be higher or lower than the average in Fairview Park based on a few factors, such as the type of solar panels you choose and the solar company you hire. Even with the high upfront cost, the average Fairview Park homeowner can save about $15,000 on their power bills over 20 years, which is one of the positives of solar.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Fairview Park
| 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 Fairview Park
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Using a solar panel installer can make swapping over to solar power much easier. A solar company can also help save you money over time by providing warranties, repairs and part replacements.
If you'd like to go solar but still aren't sure which solar company to go with, here are our recommendations for providers nearby:
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 Fairview Park
Factors that Affect Solar Panel Costs in Fairview Park
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Fairview Park: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Fairview Park, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by about $2,560 for each additional kilowatt you need. There are many different solar panel brands and the one you pick also affects the cost. In many cases, the brands that are more efficient tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Fairview Park to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Fairview Park is the company you get to install your solar system. As with choosing a company to install new cabinets, for example, there's no shortage of solar installers that provide a range of services for different budgets. Additionally, some companies in Fairview Park are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $12,530 | 11.8 years |
| 8 kW | $2.61 | $14,623 | $16,993 | 11.6 years |
| 10 kW | $2.56 | $17,920 | $21,600 | 11.3 years |
| 12 kW | $2.51 | $21,074 | $26,350 | 11.1 years |
| 14 kW | $2.46 | $24,084 | $31,244 | 10.9 years |
| 16 kW | $2.41 | $26,952 | $36,281 | 10.7 years |
| 18 kW | $2.36 | $29,676 | $41,461 | 10.4 years |
| 20 kW | $2.30 | $32,256 | $46,784 | 10.2 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose considerably influences your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Though reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Fairview Park, OH Solar Cost FAQs
How much does it cost to install solar panels in Fairview Park?
The average cost of solar panels in Fairview Park is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Fairview Park?
Leasing solar panels can be an attractive choice, as 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
How will having solar panels impact my property 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 Fairview Park is currently $207,842, so you can expect a value of about $8,522 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Fairview Park is a rewarding investment.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using 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.