Solar Panel Cost Guide in North Olmsted, OH (Mar 2023)
- North Olmsted Solar Installation Cost: $14,121
- 25-Year Savings: $12,945
- Payback Period: 13.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in North Olmsted
We break down average solar pricing in North Olmsted.
The average cost of solar panels in North Olmsted is 2.56 per watt. The average North Olmsted homeowner needs a 7.9-kilowatt system, which would cost about $14,121 with the federal tax credit, or $20,193 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of North Olmsted homeowners. The price 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. For most homeowners, the upfront investment in solar panels is worth paying. On average homeowners in North Olmsted see about $13,000 in savings on electricity bills over 20 years.
To receive a free estimate from a vetted solar company in North Olmsted, you can click the button below.
Solar savings over time in North Olmsted
| Year | Return on Investment |
|---|---|
| 1 years | $-13,038 |
| 3 years | $-10,873 |
| 5 years | $-8,708 |
| 7 years | $-6,543 |
| 9 years | $-4,377 |
| 11 years | $-2,212 |
| 13 years | $-47 |
| 15 years | $2,118 |
| 17 years | $4,284 |
| 19 years | $6,449 |
| 21 years | $8,614 |
| 23 years | $10,780 |
| 25 years | $12,945 |
Top Solar Installers in North Olmsted
Although it's possible to install solar panels yourself, it requires extra energy and expertise. Because of that, most people choose a solar panel installer. Local solar installation companies can also help you maximize your return on investment by walking you through any local incentives and by providing warranties and repairs.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 North Olmsted
Factors that Affect Solar Panel Costs in North Olmsted
There are several factors that can influence your total 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
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,560. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like North Olmsted, where sunlight isn't as abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in North Olmsted to be too expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to paying more over time due to interest. However, the interest on solar loans also adds to your overall costs, so it's vital to keep that in mind as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the growing popularity of green energy solutions in North Olmsted, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. The company's size sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have more 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 | $9,434 | 13.6 years |
| 8 kW | $2.61 | $14,623 | $12,865 | 13.3 years |
| 10 kW | $2.56 | $17,920 | $16,440 | 13.0 years |
| 12 kW | $2.51 | $21,074 | $20,158 | 12.8 years |
| 14 kW | $2.46 | $24,084 | $24,019 | 12.5 years |
| 16 kW | $2.41 | $26,952 | $28,024 | 12.3 years |
| 18 kW | $2.36 | $29,676 | $32,172 | 12.0 years |
| 20 kW | $2.30 | $32,256 | $36,463 | 11.7 years |
How to Save on Solar Panels
There are numerous companies to choose from in North Olmsted, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Your solar installer should have a solid 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 that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the gold standard in the business, and offering such a warranty is one indication of a good company.
- Contract: Before signing a contract with a solar installer, be sure to read it through carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
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 North Olmsted, OH Solar Cost FAQs
What is the average cost of installing solar panels in North Olmsted?
The average cost of solar panels in North Olmsted 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 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 in addition to 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 cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Can solar panels significantly reduce my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout North Olmsted, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in North Olmsted?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.