Solar Panel Cost Guide in Lyndhurst, OH (2023 Update)
- Lyndhurst Solar Installation Cost: $14,116
- 25-Year Savings: $15,515
- Payback Period: 11.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lyndhurst
Find out what the average cost of solar panel installation is in Lyndhurst.
The average cost of a solar system in Lyndhurst is 2.56 per watt. Because a 7.9-kW system is needed to cover the energy usage of a typical home in Lyndhurst, the average price of going solar will be about $14,121 after claiming the federal solar tax credit of 30%.
The true price you pay can be higher or lower than the average in Lyndhurst based on a variety of factors, such as the type of solar panels you choose and the solar company you hire. With typical savings of about $14,000 on utility bills over 20 years, many homeowners in Lyndhurst find investing in solar can pay off big.
You can click the button below to get connected with a pre-vetted solar installer in Lyndhurst that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lyndhurst
| Year | Return on Investment |
|---|---|
| 1 years | $-12,862 |
| 3 years | $-10,354 |
| 5 years | $-7,847 |
| 7 years | $-5,339 |
| 9 years | $-2,832 |
| 11 years | $-324 |
| 13 years | $2,184 |
| 15 years | $4,691 |
| 17 years | $7,199 |
| 19 years | $9,707 |
| 21 years | $12,214 |
| 23 years | $14,722 |
| 25 years | $17,229 |
Top Solar Installers in Lyndhurst
Installing solar panels by yourself can be a time-consuming undertaking, which is why hiring a solar installation company is a good option for many homeowners. Plus, if you're unsure what brand of solar panels and equipment you want, a solar installer can help you figure that out after a site survey and consultation.
If you're looking for a solar company in Lyndhurst, the EcoWatch team has put together 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
See all of the solar companies in Lyndhurst
Factors that Affect Solar Panel Costs in Lyndhurst
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in Lyndhurst: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay around $2,560 per kilowatt in Lyndhurst. There are a lot of different solar panel brands and the one you pick also changes the cost. In general, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Lyndhurst offer solar loans, which reduce the initial cost of installing a solar system. It's wise 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 how long it'll take to pay off the loan.
Solar Panel Installation Company
The final key cost factor you should keep in mind is the installer you choose. Given the growing popularity of sustainable energy solutions in Lyndhurst, you'll have many options to choose from, but each comes at varying price points for labor and equipment. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $11,387 | 12.4 years |
| 8 kW | $2.61 | $14,623 | $15,470 | 12.1 years |
| 10 kW | $2.56 | $17,920 | $19,695 | 11.9 years |
| 12 kW | $2.51 | $21,074 | $24,065 | 11.7 years |
| 14 kW | $2.46 | $24,084 | $28,577 | 11.4 years |
| 16 kW | $2.41 | $26,952 | $33,233 | 11.2 years |
| 18 kW | $2.36 | $29,676 | $38,032 | 11.0 years |
| 20 kW | $2.30 | $32,256 | $42,975 | 10.7 years |
How to Save on Solar Panels
The solar company you go with will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, such as:
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project completion timeline.
- Contract: When reading over your solar installer'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 component breaking or if the company goes out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before making your decision.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Lyndhurst, OH Solar Cost FAQs
What is the average cost of installing solar panels in Lyndhurst?
The average cost of solar panels in Lyndhurst 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 stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Lyndhurst?
You can't get solar panels for free in Lyndhurst. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Lyndhurst?
Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.