Solar Panel Cost Guide in Mentor On The Lake, OH (Jan 2023)

  • Mentor On The Lake Solar Installation Cost: $13,978
  • 25-Year Savings: $13,402
  • Payback Period: 12.8 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

Why you can trust EcoWatch

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 Mentor On The Lake

Let's have a look at the average cost of solar in Mentor On The Lake.

Although the national average of solar panels is $2.66 per watt, solar panels in Mentor On The Lake generally cost about $3. The average Mentor On The Lake homeowner needs a 7.8-kilowatt system, which would cost about $13,978, or $10,344 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of making the switch to solar can vary quite a bit based on several factors, such as how many panels you need, your energy consumption and what installation company you go with. Many homeowners find adopting solar power is a solid investment. The average homeowner in Mentor On The Lake can save about $13,000 on their energy bills over 20 years.

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 Mentor On The Lake

Year Return on Investment
1 years $-12,882
3 years $-10,692
5 years $-8,502
7 years $-6,311
9 years $-4,121
11 years $-1,930
13 years $260
15 years $2,450
17 years $4,641
19 years $6,831
21 years $9,022
23 years $11,212
25 years $13,402

Top Solar Installers in Mentor On The Lake

Although it's possible to install solar panels on your own, it involves extra time and expertise. Because of that, almost all homeowners choose a solar panel installer. The expertise that solar companies provide can be useful as well, especially if you don't quite know what brand of solar equipment would be right for your home.

Working with a professional solar company can make going solar easier. Here are our recommendations:

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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Mentor On The Lake

Factors that Affect Solar Panel Costs in Mentor On The Lake

For many Mentor On The Lake homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Mentor On The Lake, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.

Solar Equipment

One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,560 per kilowatt in Mentor On The Lake. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Mentor On The Lake, 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

Many homeowners find the average cost of solar in Mentor On The Lake to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.

Solar Panel Installation Company

Lastly, the company you get to install your solar panels can influence your pricing. Mentor On The Lake's solar companies all have different labor costs and add varying upcharges to equipment. The company's size can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.

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 $9,871 13.3 years
8 kW $2.61 $14,623 $13,448 13.0 years
10 kW $2.56 $17,920 $17,168 12.8 years
12 kW $2.51 $21,074 $21,032 12.5 years
14 kW $2.46 $24,084 $25,039 12.3 years
16 kW $2.41 $26,952 $29,189 12.0 years
18 kW $2.36 $29,676 $33,483 11.7 years
20 kW $2.30 $32,256 $37,920 11.5 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. Because selecting a company can be a challenge, we have some tips to help you, such as:

  • Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
  • Contract: Even though reading through a contract can be tedious, it's important to do it fully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
  • Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before making your decision.

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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Mentor On The Lake, OH Solar Cost FAQs

How much does it cost to install solar panels in Mentor On The Lake?

The average cost of solar panels in Mentor On The Lake 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.

Can you get solar panels for free in Mentor On The Lake?

You can't get solar panels for free in Mentor On The Lake. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.

How will installing solar panels impact my home value?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Mentor On The Lake is currently $170,600, which means you can expect a value of about $6,995 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Mentor On The Lake is a rewarding investment.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy consumption and the amount of 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 cover 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.

Follow us