Solar Panel Cost Guide in Mayfield, OH (2023 Update)
- Mayfield Solar Installation Cost: $14,121
- 25-Year Savings: $13,259
- Payback Period: 12.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Mayfield
Find out what the average cost of solar panels are in Mayfield.
While the national average of solar panels is $2.66 per watt, solar panels in Mayfield typically cost about 2.56. The average Mayfield homeowner needs a 7.9-kilowatt system, which would cost about $14,121 with the federal tax credit, or $20,193 before the 30% tax credit is applied.
How much you pay can go above or below the average in Mayfield depending on a variety of factors, such as the type of solar panels you choose and the solar contractor you hire. With typical savings of about $13,000 on power bills over 20 years, many homeowners in Mayfield find investing in solar can be quite rewarding.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Mayfield
| Year | Return on Investment |
|---|---|
| 1 years | $-13,026 |
| 3 years | $-10,835 |
| 5 years | $-8,645 |
| 7 years | $-6,455 |
| 9 years | $-4,264 |
| 11 years | $-2,074 |
| 13 years | $117 |
| 15 years | $2,307 |
| 17 years | $4,497 |
| 19 years | $6,688 |
| 21 years | $8,878 |
| 23 years | $11,069 |
| 25 years | $13,259 |
Top Solar Installers in Mayfield
Many homeowners opt for a solar panel company since installing solar panels on your own can be challenging. Companies can also have access to quality options of the best solar panels and help you pick which one will be right for your family.
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Mayfield
Factors that Affect Solar Panel Costs in Mayfield
For many Mayfield homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Mayfield, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Mayfield, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can determine by looking at past electricity bills. Your overall cost can increase by around $2,560 for each additional kilowatt you need. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your power bills. In addition, extra products, such as solar batteries, can bump up your total well above the Mayfield average.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Mayfield homeowners opt to finance their solar panel systems to make going solar more affordable. It's a good idea to factor 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 opt for to install your solar panel system can affect your pricing. Mayfield's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and go with the company that offers the products, warranties and services you're looking for 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 | $2.66 | $11,182 | $9,673 | 13.4 years |
| 8 kW | $2.61 | $14,623 | $13,184 | 13.1 years |
| 10 kW | $2.56 | $17,920 | $16,839 | 12.9 years |
| 12 kW | $2.51 | $21,074 | $20,636 | 12.6 years |
| 14 kW | $2.46 | $24,084 | $24,577 | 12.4 years |
| 16 kW | $2.41 | $26,952 | $28,662 | 12.1 years |
| 18 kW | $2.36 | $29,676 | $32,890 | 11.9 years |
| 20 kW | $2.30 | $32,256 | $37,261 | 11.6 years |
How to Save on Solar Panels
There are a large number of companies available in Mayfield, 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 overall cost, completion timeline rebates and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. While there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before making your decision.
- Installation Process: When going solar, it's crucial to keep an open line of communication with your solar panel company. Make sure you understand how the installation process works and the project completion timeline.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated 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 previous customers.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Mayfield, OH Solar Cost FAQs
How much does it cost to install solar panels in Mayfield?
This is a hard 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is it worth going solar in Mayfield?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using 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.