Solar Panel Cost Guide in Munroe Falls, OH (Sep 2022)

  • Munroe Falls Solar Installation Cost: $13,996
  • 25-Year Savings: $15,142
  • Payback Period: 12.0 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Munroe Falls

Let's have a look at the average cost of solar panels in Munroe Falls.

In Munroe Falls, solar panels cost about $3 per watt on average. The average solar panel system size in Munroe Falls is around 7.8 kilowatts, meaning a cost of about $13,996 for a solar installation, or $10,357 after the 30% federal solar tax credit is applied.

Bear in mind that the figures above are only estimates based on the average Munroe Falls homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. With typical savings of about $14,000 on utility bills over 20 years, many homeowners in Munroe Falls find installing solar panels can pay off big.

To get a free estimate from a vetted solar installer in Munroe Falls, you can click the button below.

Solar savings over time in Munroe Falls

Year Return on Investment
1 years $-12,830
3 years $-10,499
5 years $-8,168
7 years $-5,837
9 years $-3,506
11 years $-1,175
13 years $1,156
15 years $3,487
17 years $5,818
19 years $8,149
21 years $10,480
23 years $12,811
25 years $15,142

Top Solar Installers in Munroe Falls

Trying to install solar panels on your own can be a difficult task, which is why getting a solar installer is a good option for many homeowners. Plus, if you're unsure what brand of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.

If you're on the hunt for a solar installer in Munroe Falls, we've put together a list of our top suggestions here:

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

The Green Panel

★★★★★
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 Munroe Falls

Factors that Affect Solar Panel Costs in Munroe Falls

There are several criteria that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.

Solar Equipment Size

One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay around $2,560 per kilowatt in Munroe Falls. There are several different solar panel brands and the one you choose also affects the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Many homeowners find the average cost of solar in Munroe Falls to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in paying more over time due to interest. However, the interest on solar loans also increases your overall costs, so it's important to keep that in mind as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.

Solar Panel Installation Company

Lastly, the company you opt for to install your solar panel system can influence your pricing. Munroe Falls' solar companies all have different labor costs and add varying upcharges to equipment. You may see 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 promotions to compete with those major players.

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 $11,194 12.5 years
8 kW $2.61 $14,623 $15,211 12.3 years
10 kW $2.56 $17,920 $19,373 12.0 years
12 kW $2.51 $21,074 $23,677 11.8 years
14 kW $2.46 $24,084 $28,125 11.5 years
16 kW $2.41 $26,952 $32,717 11.3 years
18 kW $2.36 $29,676 $37,451 11.1 years
20 kW $2.30 $32,256 $42,329 10.8 years

Solar Incentives in Munroe Falls

Name Energy Conservation for Ohioans (ECO-Link) Program
Website Visit here
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Local Option - Special Energy Improvement Districts
More Info Click here

Name Solar Renewable Energy Certificates Program (SRECs)
Incentive Amount SREC prices vary based on market conditions
Website Visit here
More Info Click here

How to Save on Solar Panels

The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:

  • Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
  • Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
  • Contract: Before you sign a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
  • Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.

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

The Green Panel

★★★★★
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 Munroe Falls, OH Solar Cost FAQs

What is the average cost of installing solar panels in Munroe Falls?

This is a hard question to answer exactly, because the cost depends on a few different factors. Generally 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 more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.

Should I lease or buy solar panels in Munroe Falls?

Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.

How much can I save on energy bills after installing solar panels?

Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $745.85 per year.

What solar power system size is right for my home?

To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.

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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