Solar Panel Cost Guide in North Olmsted, OH (2023 Update)
- North Olmsted Solar Installation Cost: $14,116
- 25-Year Savings: $12,950
- Payback Period: 13.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in North Olmsted
Find out what the average cost of installing solar panels is in North Olmsted.
The average cost of a solar system in North Olmsted is 2.56 per watt. The average solar panel system size in North Olmsted 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 true cost of your system can go higher or lower than the average in North Olmsted depending on several factors, such as the model of solar panels you choose and the solar contractor you hire. For many homeowners, the upfront investment in solar power is worth paying. On average North Olmsted homeowners see about $13,000 in savings on electricity bills over 20 years.
For a personalized 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 | $-12,862 |
| 3 years | $-10,354 |
| 5 years | $-7,847 |
| 7 years | $-5,339 |
| 9 years | $-2,832 |
| 11 years | $-324 |
| 13 years | $2,184 |
| 15 years | $4,691 |
| 17 years | $7,199 |
| 19 years | $9,707 |
| 21 years | $12,214 |
| 23 years | $14,722 |
| 25 years | $17,229 |
Top Solar Installers in North Olmsted
Trying to put up solar panels by yourself can be a challenging project, which is why using a solar installation company is a good option for many homeowners. Local solar installers can also help you maximize your return on investment by assisting with any local incentives and by providing warranties and repairs.
If you're looking for a solar installer in North Olmsted, we've 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
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in North Olmsted: 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 cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,560. There are several different solar panel brands and the one you pick also affects the cost. Typically, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in North Olmsted, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable. Even though solar loans make adopting solar energy more accessible for North Olmsted homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you hire to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies in North Olmsted, and each can charge different amounts for labor and equipment. Additionally, some companies in North Olmsted have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $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
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one mark of a quality company.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Different companies will carry different brands and types of panels. If you want a specific brand, make sure the solar panel 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
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 actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you use.
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 feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Do solar panels increase your home value?
Solar panels can increase your home value remarkably 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% after installing solar panels."
How often do you have to replace solar panels?
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 how much energy they produce 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.