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

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Lyndhurst

Find out what the average cost of a solar system is in Lyndhurst.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Lyndhurst, the average cost of solar panels is 3 per watt.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.

Bear in mind that the figures above are only estimates based on the average Lyndhurst homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.With average savings of about $14,000 on power bills over 20 years, many homeowners in Lyndhurst find installing solar panels can be quite rewarding.

For a free 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 $-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

When making the switch to solar, many homeowners opt to go with a solar company since overseeing your solar installation yourself can be a difficult project. The payback period of solar panels will vary depending on factors like your location and energy usage, but going with a solar installer can shorten it. Your provider will be able to help you identify incentives available in your area.

There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

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

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

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 who want to invest in solar. There are a few major factors that affect your total cost 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 important 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 spend around $3,410 per kilowatt in Lyndhurst.The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag 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 more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

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 opt to finance their solar panel systems to offset upfront costs.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.

Solar Panel Installation Company

A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Lyndhurst is the company you choose to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that offer a range of services at different costs.Additionally, some companies in Lyndhurst are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, 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 $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 numerous companies to choose from in Lyndhurst, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:

  • Contract: Review the contract terms closely to make sure you understand the total cost, project timeline rebates and warranties.
  • Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
  • Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
  • Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.

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

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Lyndhurst, OH Solar Cost FAQs

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

This is a hard 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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.

Should I lease or buy solar panels in Lyndhurst?

Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.

Is switching to solar power worth it?

Solar panels can be a great investment for a majority 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 power bills are already reasonably low, solar panels might not be for you.

How many solar panels should I get to power my home?

To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.

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