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

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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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 Mineral Ridge

Find out how much it might cost to make the switch to solar in Mineral Ridge.

In Mineral Ridge, solar panels cost about $3 per watt on average. The average Mineral Ridge homeowner needs a 7.8-kilowatt system, which would cost about $14,067, or $10,410 after the federal solar tax credit of 30% is applied.

Bear in mind that the figures above are only estimates based on the average energy use of Mineral Ridge homeowners. 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. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $13,000 over 20 years on utility bills.

You can click the button below to get connected with a vetted solar installer in Mineral Ridge that can help you get a more accurate cost estimate for your home.

Solar savings over time in Mineral Ridge

Year Return on Investment
1 years $-13,010
3 years $-10,895
5 years $-8,780
7 years $-6,665
9 years $-4,550
11 years $-2,435
13 years $-320
15 years $1,795
17 years $3,910
19 years $6,025
21 years $8,140
23 years $10,255
25 years $12,370

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:

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 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.

Solar Equipment

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.

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 Mineral Ridge, OH Solar Cost FAQs

What is the average cost of installing solar panels in Mineral Ridge?

The average cost of solar panels in Mineral Ridge 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 like the kind of solar panels you want, what size system you need and how much energy you use.

Should I lease or buy solar panels in Mineral Ridge?

Leasing solar panels can be an option if you are unable 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.

Can you sell solar power back to the grid in Mineral Ridge?

Most states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

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 their energy production will have decreased significantly after that point. You can 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.

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