Solar Panel Cost Guide in Mineral Ridge, OH (Feb 2023)
- Mineral Ridge Solar Installation Cost: $14,067
- 25-Year Savings: $12,370
- Payback Period: 13.3 Years
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Top Solar Installers in Mineral Ridge
Putting up solar panels on your own can be a difficult undertaking, which is why using a solar installer is a good option for many homeowners. A solar company can also help save you money in the long run by providing warranties, repairs and component replacements.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in Mineral Ridge
Factors that Affect Solar Panel Costs in Mineral Ridge
For many Mineral Ridge homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Mineral Ridge, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
When it comes to estimating the cost of a solar panel system in Mineral Ridge, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can determine by looking at past energy bills. Your overall cost can increase by around $2,560 for each additional kilowatt you need. The type of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment is more than just the solar panels themselves. You'll also need to make decisions about 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 for a solar system that's in your budget.
Solar Financing Terms
Most solar companies in Mineral Ridge offer solar loans, which reduce your upfront costs of installing a solar system. Even though solar loans make switching to solar energy more accessible for Mineral Ridge homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final major cost factor you should keep in mind is the installer you choose. Given the growing popularity of renewable energy solutions in Mineral Ridge, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Mineral Ridge know more about local solar incentives and can help you learn about 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 end up saving you 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||$9,013||13.8 years|
|8 kW||$2.61||$14,623||$12,304||13.6 years|
|10 kW||$2.56||$17,920||$15,739||13.3 years|
|12 kW||$2.51||$21,074||$19,317||13.0 years|
|14 kW||$2.46||$24,084||$23,038||12.8 years|
|16 kW||$2.41||$26,952||$26,903||12.5 years|
|18 kW||$2.36||$29,676||$30,910||12.2 years|
|20 kW||$2.30||$32,256||$35,062||12.0 years|
How to Save on Solar Panels
The company that does your 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 difficult, we have some tips to help you, such as:
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
EcoWatch's Mineral Ridge, OH Solar Cost FAQs
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.