Solar Panel Cost Guide in Munroe Falls, OH (2024 Update)
- Munroe Falls Solar Installation Cost: $18,650
- 25-Year Savings: $15,136
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Munroe Falls
We go over average solar pricing in Munroe Falls.
In Munroe Falls, solar panels cost about 3 per watt on average.To account for the typical energy needs of the average home in Munroe Falls, most homeowners require a 7.8-kilowatt system. Using the per-watt figure above, a solar installation costs around $18,650, or $26,670 before the federal solar tax credit of 0 is applied.
How much you pay can be above or below the average in Munroe Falls based on several factors, such as the kind of solar panels you choose and the solar company you hire.Despite the significant upfront cost, the average Munroe Falls homeowner can save around $14,000 on their power bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a top solar installer in your area for a personalized quote.
Solar savings over time in Munroe Falls
| Year | Return on Investment |
|---|---|
| 1 years | $-17,430 |
| 3 years | $-14,989 |
| 5 years | $-12,549 |
| 7 years | $-10,108 |
| 9 years | $-7,668 |
| 11 years | $-5,227 |
| 13 years | $-2,787 |
| 15 years | $-346 |
| 17 years | $2,094 |
| 19 years | $4,535 |
| 21 years | $6,975 |
| 23 years | $9,416 |
| 25 years | $11,856 |
Top Solar Installers in Munroe Falls
Installing solar panels by yourself can be a difficult undertaking, which is why getting a solar installer is a good option for many homeowners. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and system component replacements.
If you're looking for a solar installer in Munroe Falls, we've put together a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Munroe Falls
Factors that Affect Solar Panel Costs in Munroe Falls
There are many factors that can play into your 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
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That’s why it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.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 have a higher price tag 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. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That’s why many Munroe Falls homeowners opt to finance their solar panel systems to offset upfront costs.When considering your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you pick will impact your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Munroe Falls know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $3.55 | $14,895 | $7,481 | 16.6 years |
| 8 kW | $3.48 | $19,478 | $10,356 | 16.3 years |
| 10 kW | $3.41 | $23,870 | $13,423 | 16.0 years |
| 12 kW | $3.34 | $28,071 | $16,680 | 15.7 years |
| 14 kW | $3.27 | $32,081 | $20,128 | 15.4 years |
| 16 kW | $3.21 | $35,900 | $23,768 | 15.0 years |
| 18 kW | $3.14 | $39,529 | $27,598 | 14.7 years |
| 20 kW | $3.07 | $42,966 | $31,619 | 14.4 years |
How to Save on Solar Panels
There are numerous companies available in Munroe Falls, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Different companies offer different brands and types of panels. If you want a specific brand, make sure the solar panel installer you’re considering has it.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Munroe Falls, OH Solar Cost FAQs
How much does it cost to install solar panels in Munroe Falls?
The average cost of solar panels in Munroe Falls is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact how much my home is worth?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out 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 home 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.