Solar Panel Cost Guide in Genoa, OH (Mar 2023)
- Genoa Solar Installation Cost: $13,655
- 25-Year Savings: $20,032
- Payback Period: 10.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Genoa
Find out how much it might cost to make the switch to solar in Genoa.
In Genoa, solar panels cost about 2.56 per watt on average. Because a 7.6-kW system is needed to cover the energy needs of a typical home in Genoa, the average price of going solar will be about $13,655 after claiming the federal solar tax credit of 30%.
The true price you pay can be higher or lower than the average in Genoa based on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire. Many homeowners find installing a solar system is a fruitful investment. The average homeowner in Genoa can save about $17,000 on their energy bills over 20 years.
To get a free estimate from a pre-vetted solar company in Genoa, you can click the button below.
Solar savings over time in Genoa
| Year | Return on Investment |
|---|---|
| 1 years | $-12,308 |
| 3 years | $-9,613 |
| 5 years | $-6,918 |
| 7 years | $-4,223 |
| 9 years | $-1,528 |
| 11 years | $1,167 |
| 13 years | $3,862 |
| 15 years | $6,557 |
| 17 years | $9,252 |
| 19 years | $11,947 |
| 21 years | $14,642 |
| 23 years | $17,337 |
| 25 years | $20,032 |
Top Solar Installers in Genoa
Although it's possible to install solar panels yourself, it requires extra energy and knowledge. Because of that, almost all homeowners choose to go with a solar panel installer. Plus, if you're unsure what kind of solar panels and equipment you need, a solar installer can help you figure that out after a site survey and consultation.
If you're on the hunt for a solar company in Genoa, we've compiled 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 (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 Genoa
Factors that Affect Solar Panel Costs in Genoa
For many Genoa homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Genoa, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Genoa, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are provided by most installers in Genoa, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of financing options, 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 get to install your solar panels can impact the cost. Genoa's solar companies all have different labor costs and add varying upcharges to 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 cost more. It's best to do some research and decide on the company that has the products, warranties and services you want and also fit into 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 | $15,351 | 10.5 years |
| 8 kW | $2.61 | $14,623 | $20,754 | 10.3 years |
| 10 kW | $2.56 | $17,920 | $26,301 | 10.1 years |
| 12 kW | $2.51 | $21,074 | $31,992 | 9.9 years |
| 14 kW | $2.46 | $24,084 | $37,825 | 9.7 years |
| 16 kW | $2.41 | $26,952 | $43,802 | 9.5 years |
| 18 kW | $2.36 | $29,676 | $49,923 | 9.3 years |
| 20 kW | $2.30 | $32,256 | $56,186 | 9.1 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: If you're worried about the endurance of your solar energy system, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases provide good-quality solar panel installation and expertise.
- Contract: When reading over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
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 Genoa, OH Solar Cost FAQs
How much does it cost to install solar panels in Genoa?
This is a difficult 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. It will be more expensive if you want other 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 choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Genoa?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Is it worth going solar in Genoa?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption 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 install between 20 and 35 panels to account for 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.