Solar Panel Cost Guide in North Olmsted, OH (2024 Update)
- North Olmsted Solar Installation Cost: $18,803
- 25-Year Savings: $12,950
- Payback Period: 17.4 Years
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Average Cost of Solar Panels in North Olmsted
See how much it might cost to switch to solar power in North Olmsted.
While the national average of solar panels is $2.66 per watt, solar panels in North Olmsted typically cost around 3.Because a 7.9-kW system is needed to cover the energy consumption of a typical home in North Olmsted, the average price of going solar will be about $18,803 after claiming the federal solar tax credit of 0.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy consumption, the type of equipment you want, your solar contractor and more.But, after you've paid the initial cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $13,000 over 20 years on energy bills.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in North Olmsted
| Year | Return on Investment |
|---|---|
| 1 years | $-17,549 |
| 3 years | $-15,041 |
| 5 years | $-12,534 |
| 7 years | $-10,026 |
| 9 years | $-7,518 |
| 11 years | $-5,011 |
| 13 years | $-2,503 |
| 15 years | $4 |
| 17 years | $2,512 |
| 19 years | $5,020 |
| 21 years | $7,527 |
| 23 years | $10,035 |
| 25 years | $12,542 |
Top Solar Installers in North Olmsted
Many homeowners opt for a solar installer since trying to put up solar panels yourself can be time-consuming. The expertise that solar installers offer can be helpful as well, especially if you don’t quite know what kind of solar equipment would be right for your home.
If you're searching for a solar company in North Olmsted, the EcoWatch team has organized 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 North Olmsted
Factors that Affect Solar Panel Costs in North Olmsted
For many North Olmsted homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in North Olmsted, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,410. The brand and kind of equipment you get 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 limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in North Olmsted offer solar loans, which reduce the initial cost of installing a solar system.When figuring out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies in North Olmsted, and each can charge varying amounts for labor and equipment.Additionally, some companies in North Olmsted are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $5,721 | 18.1 years |
| 8 kW | $3.48 | $19,478 | $8,010 | 17.7 years |
| 10 kW | $3.41 | $23,870 | $10,490 | 17.4 years |
| 12 kW | $3.34 | $28,071 | $13,160 | 17.0 years |
| 14 kW | $3.27 | $32,081 | $16,022 | 16.7 years |
| 16 kW | $3.21 | $35,900 | $19,075 | 16.3 years |
| 18 kW | $3.14 | $39,529 | $22,319 | 16.0 years |
| 20 kW | $3.07 | $42,966 | $25,753 | 15.6 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 select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The model of solar panel you need plays a part in which installer you should go with, since different companies have different panels.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one sign of a quality company.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Contract: It’s important to read your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's North Olmsted, OH Solar Cost FAQs
How much does it cost to install solar panels in North Olmsted?
The average cost of solar panels in North Olmsted 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 certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in North Olmsted?
Solar panels aren’t free in North Olmsted, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is it worth going solar in North Olmsted?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.