Solar Panel Cost Guide in Lanier, OH (2023 Update)
- Lanier Solar Installation Cost: $13,332
- 25-Year Savings: $14,694
- Payback Period: 11.9 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Lanier
Find out what the average cost of installing solar panels is in Lanier.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lanier, the typical cost of a solar system is 2.56 per watt. To account for the typical energy usage of the average home in Lanier, most homeowners require a 7.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $13,332, or $19,065 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of equipment you want, your solar contractor and more. Even with the significant upfront cost, the average Lanier homeowner can save about $14,000 on their electricity bills over 20 years, which is one of the perks of solar.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Lanier
| Year | Return on Investment |
|---|---|
| 1 years | $-12,211 |
| 3 years | $-9,969 |
| 5 years | $-7,727 |
| 7 years | $-5,485 |
| 9 years | $-3,243 |
| 11 years | $-1,001 |
| 13 years | $1,241 |
| 15 years | $3,483 |
| 17 years | $5,725 |
| 19 years | $7,967 |
| 21 years | $10,210 |
| 23 years | $12,452 |
| 25 years | $14,694 |
Top Solar Installers in Lanier
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Taking advantage of a solar company can make your swap to solar power much easier. Plus, if you're unsure what brand of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some in Lanier:
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 Lanier
Factors that Affect Solar Panel Costs in Lanier
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Lanier: 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 energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,560. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are an affordable option because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also increases your overall costs, so it's crucial to take that into consideration as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Lanier is the company you choose to install your PV system. Similar to choosing a company to build a deck or pool, for example, there are plenty of solar installers that offer a range of services for different budgets. Additionally, some companies in Lanier have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, 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 | $11,408 | 12.4 years |
| 8 kW | $2.61 | $14,623 | $15,498 | 12.1 years |
| 10 kW | $2.56 | $17,920 | $19,730 | 11.9 years |
| 12 kW | $2.51 | $21,074 | $24,107 | 11.7 years |
| 14 kW | $2.46 | $24,084 | $28,626 | 11.4 years |
| 16 kW | $2.41 | $26,952 | $33,289 | 11.2 years |
| 18 kW | $2.36 | $29,676 | $38,095 | 10.9 years |
| 20 kW | $2.30 | $32,256 | $43,045 | 10.7 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Lanier, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- 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 such as a system component breaking or if the company goes out of business.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of options before deciding.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
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 Lanier, OH Solar Cost FAQs
How much does it cost to install solar panels in Lanier?
This is a difficult question to answer precisely, because the cost depends on many factors. Broadly 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 higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Lanier?
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 a lot of direct sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Lanier?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.