Solar Panel Cost Guide in Lyndhurst, OH (Mar 2023)
- Lyndhurst Solar Installation Cost: $14,121
- 25-Year Savings: $15,510
- Payback Period: 11.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lyndhurst
Let's have a look at the average cost of solar panels in Lyndhurst.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lyndhurst, the average cost of a solar system is 2.56 per watt. Using this figure, a typical 7.9-kW system would cost about $14,121 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of making the switch to solar can vary quite a bit based on a few factors, such as how many panels you need, your energy consumption and what company you go with. But, after you've paid the upfront cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $14,000 over 20 years on energy bills.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Lyndhurst
| Year | Return on Investment |
|---|---|
| 1 years | $-12,936 |
| 3 years | $-10,565 |
| 5 years | $-8,195 |
| 7 years | $-5,824 |
| 9 years | $-3,454 |
| 11 years | $-1,084 |
| 13 years | $1,287 |
| 15 years | $3,657 |
| 17 years | $6,028 |
| 19 years | $8,398 |
| 21 years | $10,769 |
| 23 years | $13,139 |
| 25 years | $15,510 |
Top Solar Installers in Lyndhurst
Putting up solar panels on your own can be a stressful project, which is why getting a solar installer is a good option for many homeowners. The expertise that solar companies provide can be valuable as well, especially if you aren't sure what kind of solar equipment would be right for your home.
You can get a free estimate from a local solar installer on how much your investment in solar could cost 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 (coming 2022)
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
Though the average cost of a solar system in Lyndhurst is $14,121, your actual cost may be above or below the average. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,560. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Lyndhurst, where sunlight isn't as abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable choice because they lower your upfront costs and let you pay for your system over five to seven years on average. 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 lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the growing popularity of green energy solutions in Lyndhurst, you'll have lots of 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 prices, 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 company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely provide quality solar panel installation and expertise.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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
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 real cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Lyndhurst?
Solar panels aren't free in Lyndhurst, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is it worth going solar in Lyndhurst?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.