Solar Panel Cost Guide in Medina, OH (Mar 2023)
- Medina Solar Installation Cost: $13,619
- 25-Year Savings: $16,339
- Payback Period: 11.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Medina
See how much it might cost to make the switch to solar in Medina.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Medina, the typical cost of solar panels is 2.56 per watt. Because a 7.6-kW system is needed to cover the energy needs of a typical home in Medina, the average price of going solar will be about $13,619 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of going solar can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what company you go with. Even with the large upfront cost, the average Medina homeowner can save around $15,000 on their energy bills over 20 years, which is one of the perks of solar.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Medina
| Year | Return on Investment |
|---|---|
| 1 years | $-12,421 |
| 3 years | $-10,024 |
| 5 years | $-7,628 |
| 7 years | $-5,231 |
| 9 years | $-2,834 |
| 11 years | $-438 |
| 13 years | $1,959 |
| 15 years | $4,356 |
| 17 years | $6,752 |
| 19 years | $9,149 |
| 21 years | $11,546 |
| 23 years | $13,942 |
| 25 years | $16,339 |
Top Solar Installers in Medina
Although you can install solar panels yourself, it requires extra energy and handiness. Because of that, most homeowners choose to hire a solar panel installer. Companies can also provide access to various kinds of the best solar panels and help you pick which one will be right for your family.
You can get a free quote from a local solar installer on how much solar panels 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 Medina
Factors that Affect Solar Panel Costs in Medina
There are a number of criteria that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That's why it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. There are several different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you're looking to get 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
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are provided by most installers in Medina, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. While solar loans make adopting solar energy more accessible for Medina homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Medina is the company you get to install your PV system. Similar to choosing a company to renovate your kitchen, for example, there's no shortage of solar installers that offer a range of services for different budgets. Additionally, some companies in Medina are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $2.66 | $11,182 | $12,478 | 11.8 years |
| 8 kW | $2.61 | $14,623 | $16,924 | 11.6 years |
| 10 kW | $2.56 | $17,920 | $21,514 | 11.4 years |
| 12 kW | $2.51 | $21,074 | $26,247 | 11.1 years |
| 14 kW | $2.46 | $24,084 | $31,123 | 10.9 years |
| 16 kW | $2.41 | $26,952 | $36,143 | 10.7 years |
| 18 kW | $2.36 | $29,676 | $41,306 | 10.5 years |
| 20 kW | $2.30 | $32,256 | $46,612 | 10.2 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: Before signing a contract with a solar company, be sure to look it over completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
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 Medina, OH Solar Cost FAQs
How much does it cost to install solar panels in Medina?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $12,800 for a 5-kW system and $25,600 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to consider when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How will installing solar panels impact the value of my home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Medina is currently $214,800, which means you can expect a value of about $8,807 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Medina is a rewarding investment.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption 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 account for 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.