Solar Panel Cost Guide in Mentor-on-the-Lake, OH (2025 Update)
- Mentor-on-the-Lake Solar Installation Cost: $18,626
- 25-Year Savings: $13,397
- Payback Period: 17.0 Years
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Average Cost of Solar Panels in Mentor-on-the-Lake
Find out how much it might cost to install solar panels in Mentor-on-the-Lake.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Mentor-on-the-Lake, the average cost of a solar system is 3 per watt.The average solar panel system size in Mentor-on-the-Lake is around 7.8 kilowatts, meaning a cost of about $18,626 for a solar installation, or $26,635 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Mentor-on-the-Lake homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.With typical savings of about $13,000 on power bills over 20 years, many homeowners in Mentor-on-the-Lake find going solar has a decent ROI.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Mentor-on-the-Lake
Year | Return on Investment |
---|---|
1 years | $-17,372 |
3 years | $-14,865 |
5 years | $-12,357 |
7 years | $-9,849 |
9 years | $-7,342 |
11 years | $-4,834 |
13 years | $-2,327 |
15 years | $181 |
17 years | $2,689 |
19 years | $5,196 |
21 years | $7,704 |
23 years | $10,211 |
25 years | $12,719 |
Top Solar Installers in Mentor-on-the-Lake
Installing solar panels on your own can be a challenging task, which is why getting a solar installation company is a good option for many homeowners. A solar company can also help save you money over time by offering warranties, repairs and part replacements.
If you're looking for a solar company in Mentor-on-the-Lake, we've compiled a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Mentor-on-the-Lake
Factors that Affect Solar Panel Costs in Mentor-on-the-Lake
The cost of installing a solar system in Mentor-on-the-Lake can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,410.The type of solar panels and equipment you choose is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment consists of more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a popular option because they reduce your upfront costs and let you pay for your system over five to seven years on average.Though solar loans make switching to solar energy more accessible for Mentor-on-the-Lake homeowners, they can also add to the total you pay for your system due to interest. 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 keep in mind when trying to evaluate the cost of solar for your home or business in Mentor-on-the-Lake is the company you get to install your PV system. Similar to choosing a company to renovate your kitchen, for instance, you’ll have no shortage of solar installers that offer a range of services for different budgets.Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $6,158 | 17.7 years |
8 kW | $3.48 | $19,478 | $8,593 | 17.3 years |
10 kW | $3.41 | $23,870 | $11,218 | 17.0 years |
12 kW | $3.34 | $28,071 | $14,035 | 16.7 years |
14 kW | $3.27 | $32,081 | $17,042 | 16.3 years |
16 kW | $3.21 | $35,900 | $20,240 | 16.0 years |
18 kW | $3.14 | $39,529 | $23,630 | 15.6 years |
20 kW | $3.07 | $42,966 | $27,210 | 15.3 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Long-running 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 service, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While 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 peruse their list of offerings before making your decision.
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Mentor-on-the-Lake, OH Solar Cost FAQs
What is the average cost of installing solar panels in Mentor-on-the-Lake?
The average cost of solar panels in Mentor-on-the-Lake is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Mentor-on-the-Lake?
Leasing solar panels can be an option if you can’t afford 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 financial benefits from going solar.
Is making the switch to solar worth it?
Solar panels can be a good investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having 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.