Solar Panel Cost Guide in Lorain, OH (Sep 2022)

  • Lorain Solar Installation Cost: $12,687
  • 25-Year Savings: $14,356
  • Payback Period: 11.7 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Lorain

Let's have a look at the average cost of solar panels in Lorain.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Lorain, the average cost of a solar system is $3 per watt. The average solar panel system size in Lorain is around 7.1 kilowatts, meaning a cost of about $12,687 for a solar installation, or $9,388 after the 30% federal solar tax credit is applied.

Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of solar panels you want, your solar contractor and more. Many homeowners find adopting solar power is a solid investment. The average homeowner in Lorain can save about $15,000 on their power bills over 20 years.

Click the button below to get connected to a vetted solar panel company in your area for a custom quote.

Solar savings over time in Lorain

Year Return on Investment
1 years $-11,606
3 years $-9,442
5 years $-7,279
7 years $-5,115
9 years $-2,952
11 years $-788
13 years $1,375
15 years $3,539
17 years $5,702
19 years $7,866
21 years $10,029
23 years $12,193
25 years $14,356

Top Solar Installers in Lorain

Although it's possible to install solar panels on your own, it involves extra effort and know-how. Because of that, almost all homeowners choose to go with a solar panel installer. The payback period of solar panels will vary depending on factors like your location and energy use, 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 searching for a solar company in Lorain, we've compiled a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Lorain

Factors that Affect Solar Panel Costs in Lorain

There are many criteria that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.

Solar Equipment Size

When it comes to estimating the cost of solar panels in Lorain, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can gauge by looking at past power bills. Your overall cost can increase by about $2,560 for each additional kilowatt you need. The brand and type of equipment you choose 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 limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

Most solar companies in Lorain have solar loans, which reduce the initial cost of installing a solar system. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.

Solar Panel Installation Company

Lastly, the company you choose to install your solar system can impact how much it costs. Lorain's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most considerable role in the cost. 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 lower 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 $11,745 12.2 years
8 kW $2.61 $14,623 $15,947 12.0 years
10 kW $2.56 $17,920 $20,292 11.7 years
12 kW $2.51 $21,074 $24,780 11.5 years
14 kW $2.46 $24,084 $29,412 11.3 years
16 kW $2.41 $26,952 $34,187 11.0 years
18 kW $2.36 $29,676 $39,106 10.8 years
20 kW $2.30 $32,256 $44,168 10.6 years

Solar Incentives in Lorain

Name Energy Conservation for Ohioans (ECO-Link) Program
Website Visit here
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Local Option - Special Energy Improvement Districts
More Info Click here

Name Solar Renewable Energy Certificates Program (SRECs)
Incentive Amount SREC prices vary based on market conditions
Website Visit here
More Info Click here

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:

  • Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of options before deciding.
  • Contract: Read the contract terms carefully to make sure you understand the overall cost, project timeline incentives and warranties.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Lorain, OH Solar Cost FAQs

How much does it cost to install solar panels in Lorain?

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. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.

Can you get solar panels for free in Lorain?

A solar panel system isn't free in Lorain, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Can you sell solar power back to the grid in Lorain?

The majority of states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

How long do solar panels last in Lorain?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use 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.

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