Solar Panel Cost Guide in Geneva, OH (2024 Update)
- Geneva Solar Installation Cost: $18,687
- 25-Year Savings: $13,351
- Payback Period: 17.1 Years
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Average Cost of Solar Panels in Geneva
Find out how much it might cost to make the switch to solar in Geneva.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Geneva, the average cost of a solar system is 3 per watt.To cover the typical energy usage of the average home in Geneva, most homeowners require a 7.8-kilowatt system. Using the per-watt figure above, a solar installation costs around $18,687, or $26,722 before the federal solar tax credit of 0 is applied.
The actual price you pay can be higher or lower than the average in Geneva depending on several factors, such as the kind of solar panels you choose and the solar company you hire.With typical savings of about $13,000 on electricity bills over 20 years, many homeowners in Geneva find going solar can pay off big.
You can click the button below to get connected with a pre-vetted solar company in Geneva that can help you get a more accurate cost estimate for your home.
Solar savings over time in Geneva
| Year | Return on Investment |
|---|---|
| 1 years | $-17,434 |
| 3 years | $-14,926 |
| 5 years | $-12,418 |
| 7 years | $-9,911 |
| 9 years | $-7,403 |
| 11 years | $-4,895 |
| 13 years | $-2,388 |
| 15 years | $120 |
| 17 years | $2,627 |
| 19 years | $5,135 |
| 21 years | $7,643 |
| 23 years | $10,150 |
| 25 years | $12,658 |
Top Solar Installers in Geneva
Many homeowners opt for a solar panel company since figuring out how to install solar panels yourself can be a lot of work. Companies can also provide access to various kinds of the best solar panels and help you decide which one will be right for you.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Geneva
Factors that Affect Solar Panel Costs in Geneva
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that will push your cost above or below the average in Geneva: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,410. The kind of solar panels and equipment you get is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about 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 for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Geneva to be too steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only 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 securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies in Geneva, and each can charge different amounts for labor and equipment.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and choose a company that has the products, warranties and services you want and also is 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 | $3.55 | $14,895 | $6,089 | 17.7 years |
| 8 kW | $3.48 | $19,478 | $8,501 | 17.4 years |
| 10 kW | $3.41 | $23,870 | $11,103 | 17.1 years |
| 12 kW | $3.34 | $28,071 | $13,897 | 16.7 years |
| 14 kW | $3.27 | $32,081 | $16,881 | 16.4 years |
| 16 kW | $3.21 | $35,900 | $20,056 | 16.0 years |
| 18 kW | $3.14 | $39,529 | $23,423 | 15.7 years |
| 20 kW | $3.07 | $42,966 | $26,980 | 15.4 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose considerably affects your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Before you sign a contract with a solar installer, make sure to read it through fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: The type of solar panel you’d like plays a part in which installer you should opt for, since different companies offer different panels.
- Installation Process: When going solar, it’s important to maintain an open line of communication with your solar company. Make sure you understand how the installation process works and the completion timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can look into your installer’s reputation is by reading reviews.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Geneva, OH Solar Cost FAQs
What is the average cost of installing solar panels in Geneva?
This is a hard question to answer exactly, because the cost depends on many factors. Generally 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 additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Geneva?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The drawback 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 option if you want to get the most savings.
Can you sell solar power back to the grid in Geneva?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
How long do solar panels last in Geneva?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.