Solar Panel Cost Guide in Minerva, OH (Mar 2023)
- Minerva Solar Installation Cost: $13,960
- 25-Year Savings: $15,799
- Payback Period: 11.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Minerva
We break down average solar pricing in Minerva.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Minerva, the average cost of a solar system is 2.56 per watt. The average Minerva homeowner needs a 7.8-kilowatt system, which would cost about $13,960 with the federal tax credit, or $19,963 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy use, the type of equipment you want to get, your solar contractor and more. But, after you've paid the upfront cost of installation, the savings for most homeowners is usually rewarding, with a net average savings of about $15,000 over 20 years on power bills.
Click the button below to get connected to a top solar installer in Minerva for a custom quote.
Solar savings over time in Minerva
| Year | Return on Investment |
|---|---|
| 1 years | $-12,769 |
| 3 years | $-10,389 |
| 5 years | $-8,008 |
| 7 years | $-5,627 |
| 9 years | $-3,246 |
| 11 years | $-866 |
| 13 years | $1,515 |
| 15 years | $3,896 |
| 17 years | $6,276 |
| 19 years | $8,657 |
| 21 years | $11,038 |
| 23 years | $13,419 |
| 25 years | $15,799 |
Top Solar Installers in Minerva
Many homeowners opt for a solar panel company since figuring out how to install solar panels on your own can be a lot of work. A solar installer can also help save you money in the long run by offering warranties, repairs and part replacements.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
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 Minerva
Factors that Affect Solar Panel Costs in Minerva
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Minerva: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar system in Minerva, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can determine by looking at past electricity bills. Your overall cost can increase by around $2,560 for each additional kilowatt you need. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Minerva have solar loans, which reduce your upfront costs of installing solar panels. Even though solar loans make switching to solar energy more accessible for Minerva 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 cut back on how much interest you have to pay.
Solar Panel Installation Company
Finally, the company you choose to install your solar system can play a part in determining the cost. Minerva's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of 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 discount can bring their pricing lower 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 | $11,733 | 12.2 years |
| 8 kW | $2.61 | $14,623 | $15,930 | 12.0 years |
| 10 kW | $2.56 | $17,920 | $20,271 | 11.7 years |
| 12 kW | $2.51 | $21,074 | $24,756 | 11.5 years |
| 14 kW | $2.46 | $24,084 | $29,383 | 11.3 years |
| 16 kW | $2.41 | $26,952 | $34,154 | 11.0 years |
| 18 kW | $2.36 | $29,676 | $39,069 | 10.8 years |
| 20 kW | $2.30 | $32,256 | $44,127 | 10.6 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Contract: It's important to read through your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
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 Minerva, OH Solar Cost FAQs
How much does it cost to install solar panels in Minerva?
The average cost of solar panels in Minerva is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider other than cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is it worth going solar in Minerva?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How long do solar panels last in Minerva?
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 how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use 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.