Solar Panel Cost Guide in Lyndhurst, OH (2024 Update)
- Lyndhurst Solar Installation Cost: $18,803
- 25-Year Savings: $15,515
- Payback Period: 15.9 Years
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Average Cost of Solar Panels in Lyndhurst
Find out what the average cost of a solar system is in Lyndhurst.
In Lyndhurst, solar panels cost about 3 per watt on average.The average Lyndhurst homeowner needs a 7.9-kilowatt system, which would cost about $18,803 with the federal tax credit, or $26,888 before the 0 tax credit is applied.
Remember 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 solar system you want, your solar contractor and more.With typical savings of about $14,000 on power bills over 20 years, many homeowners in Lyndhurst find investing in solar can be quite rewarding.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Lyndhurst
| Year | Return on Investment |
|---|---|
| 1 years | $-17,549 |
| 3 years | $-15,041 |
| 5 years | $-12,534 |
| 7 years | $-10,026 |
| 9 years | $-7,518 |
| 11 years | $-5,011 |
| 13 years | $-2,503 |
| 15 years | $4 |
| 17 years | $2,512 |
| 19 years | $5,020 |
| 21 years | $7,527 |
| 23 years | $10,035 |
| 25 years | $12,542 |
Top Solar Installers in Lyndhurst
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Using a solar company can make your switch to solar power much easier. Local solar companies can also help you optimize your return on investment by walking you through any local incentives you can take advantage of and by providing warranties and repairs.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Lyndhurst
Factors that Affect Solar Panel Costs in Lyndhurst
There are a number of criteria that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,410.There are many different solar panel brands and the one you pick also changes the cost. Generally, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Lyndhurst homeowners decide to finance their solar panel systems to make going solar more affordable.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can influence your pricing. Lyndhurst’s solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — 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 find a company that offers the products, warranties and services you want and also fits within 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 | $3.55 | $14,895 | $7,674 | 16.5 years |
| 8 kW | $3.48 | $19,478 | $10,614 | 16.2 years |
| 10 kW | $3.41 | $23,870 | $13,745 | 15.9 years |
| 12 kW | $3.34 | $28,071 | $17,067 | 15.5 years |
| 14 kW | $3.27 | $32,081 | $20,580 | 15.2 years |
| 16 kW | $3.21 | $35,900 | $24,284 | 14.9 years |
| 18 kW | $3.14 | $39,529 | $28,179 | 14.6 years |
| 20 kW | $3.07 | $42,966 | $32,265 | 14.3 years |
How to Save on Solar Panels
There are many companies available in Lyndhurst, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- 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 the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Lyndhurst, OH Solar Cost FAQs
How much does it cost to install solar panels in Lyndhurst?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Lyndhurst?
Leasing solar panels can be an appealing choice, as it commonly 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is it worth going solar in Lyndhurst?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
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 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 buy between 20 and 35 panels to cover 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.