Solar Panel Cost Guide in Moreland Hills, OH (2023 Update)
- Moreland Hills Solar Installation Cost: $14,121
- 25-Year Savings: $13,259
- Payback Period: 12.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Moreland Hills
We break down average solar pricing in Moreland Hills.
The national average cost of solar panels is $2.66 per watt, but in Moreland Hills it's 2.56 per watt. The average solar panel system size in Moreland Hills is around 7.9 kilowatts, meaning a cost of about $14,121 for a solar installation, or $20,193 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of installing solar panels can vary based on several factors, such as what size system you need, your energy usage and what installation company you go with. Even with the significant upfront cost, the average Moreland Hills homeowner can save about $13,000 on their energy bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a highly rated solar company in your area for a personalized quote.
Solar savings over time in Moreland Hills
| Year | Return on Investment |
|---|---|
| 1 years | $-13,026 |
| 3 years | $-10,835 |
| 5 years | $-8,645 |
| 7 years | $-6,455 |
| 9 years | $-4,264 |
| 11 years | $-2,074 |
| 13 years | $117 |
| 15 years | $2,307 |
| 17 years | $4,497 |
| 19 years | $6,688 |
| 21 years | $8,878 |
| 23 years | $11,069 |
| 25 years | $13,259 |
Top Solar Installers in Moreland Hills
Many homeowners decide to hire a solar installer since trying to install solar panels yourself can be a lot of work. Plus, if you aren't sure what brand of solar panels and equipment you want, a solar expert can help you find the right equipment for you after a site survey and consultation.
If you'd like to start using solar energy but still aren't sure which solar panel company to go with, here are our recommendations for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Moreland Hills
Factors that Affect Solar Panel Costs in Moreland Hills
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in Moreland Hills: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,560. The model of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on 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 falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Moreland Hills to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. However, the interest on solar loans also adds to your total costs, so it's crucial to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Moreland Hills is the company you hire to install your solar system. As with choosing a company to renovate your kitchen, for example, there are plenty of solar installers that offer a range of services for different budgets. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger 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 | $9,673 | 13.4 years |
| 8 kW | $2.61 | $14,623 | $13,184 | 13.1 years |
| 10 kW | $2.56 | $17,920 | $16,839 | 12.9 years |
| 12 kW | $2.51 | $21,074 | $20,636 | 12.6 years |
| 14 kW | $2.46 | $24,084 | $24,577 | 12.4 years |
| 16 kW | $2.41 | $26,952 | $28,662 | 12.1 years |
| 18 kW | $2.36 | $29,676 | $32,890 | 11.9 years |
| 20 kW | $2.30 | $32,256 | $37,261 | 11.6 years |
How to Save on Solar Panels
The solar panel company you opt for will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, such as:
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely offer quality solar panel installation and expertise.
- Solar Panel Brands: Different companies offer various brands and kinds of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Moreland Hills, OH Solar Cost FAQs
How much does it cost to install solar panels in Moreland Hills?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $12,800 for a 5-kW system and $25,600 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Moreland Hills?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to 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 bang for your buck from going solar.
Is it worth going solar in Moreland Hills?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
How long do solar panels last in Moreland Hills?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had 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.