Solar Panel Cost Guide in Grafton, OH (2023 Update)
- Grafton Solar Installation Cost: $12,687
- 25-Year Savings: $16,626
- Payback Period: 10.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Grafton
See how much it might cost to switch to solar power in Grafton.
While the national average of solar panels is $2.66 per watt, solar panels in Grafton generally cost around 2.56. Using this figure, a typical 7.1-kW system would cost about $12,687 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of making the switch to solar can vary quite a bit based on multiple factors, such as how many panels you need, your energy usage and what company you go with. Despite the high upfront cost, the average Grafton homeowner can save about $16,000 on their energy bills over 20 years, which is one of the positives of solar.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Grafton
| Year | Return on Investment |
|---|---|
| 1 years | $-11,515 |
| 3 years | $-9,170 |
| 5 years | $-6,825 |
| 7 years | $-4,480 |
| 9 years | $-2,134 |
| 11 years | $211 |
| 13 years | $2,556 |
| 15 years | $4,901 |
| 17 years | $7,246 |
| 19 years | $9,591 |
| 21 years | $11,936 |
| 23 years | $14,281 |
| 25 years | $16,626 |
Top Solar Installers in Grafton
When going solar, many homeowners opt to hire a solar installer since handling can be a challenging project. The payback period on a solar system will vary depending on factors like your roof configuration and energy consumption, but working with a solar installer can shorten it. Your provider will be able to help you apply for incentives available in your area.
If you're on the hunt for a solar company in Grafton, 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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Grafton
Factors that Affect Solar Panel Costs in Grafton
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in Grafton: 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 cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production use 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 $2,560. The type of solar panels and equipment you choose is another factor that will largely affect costs. Solar panels that have higher efficiency, 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 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 searching for a solar system that's in your budget.
Solar Financing Terms
Most solar companies in Grafton have solar loans, which reduce your upfront costs of installing a solar system. However, the interest on solar loans also increases your all-in costs, so it's vital to keep that in mind as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The remaining key cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Grafton, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. The company's size sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to greater resources and bulk 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 discount can bring their pricing down 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 | $13,670 | 11.2 years |
| 8 kW | $2.61 | $14,623 | $18,513 | 11.0 years |
| 10 kW | $2.56 | $17,920 | $23,499 | 10.8 years |
| 12 kW | $2.51 | $21,074 | $28,629 | 10.6 years |
| 14 kW | $2.46 | $24,084 | $33,903 | 10.4 years |
| 16 kW | $2.41 | $26,952 | $39,319 | 10.2 years |
| 18 kW | $2.36 | $29,676 | $44,879 | 10.0 years |
| 20 kW | $2.30 | $32,256 | $50,583 | 9.7 years |
How to Save on Solar Panels
Since the kind of solar panels and the 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: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, completion timeline incentives and warranties.
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Grafton, OH Solar Cost FAQs
How much does it cost to install solar panels in Grafton?
The average cost of solar panels in Grafton 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 things like the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Grafton?
Leasing solar panels can be an appealing choice, because it usually 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 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.
Can solar panels completely eradicate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $828.39 per year.
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 average daily 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.