Solar Panel Cost Guide in Norwood, OH (2024 Update)
- Norwood Solar Installation Cost: $17,636
- 25-Year Savings: $11,488
- Payback Period: 18.2 Years
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Average Cost of Solar Panels in Norwood
Find out what the average cost of solar panel installation is in Norwood.
The national average cost of solar panels is $2.66 per watt, but in Norwood it’s 3 per watt.Since a 7.4-kW system is needed to cover the energy costs of a typical home in Norwood, the average price of going solar will be about $17,636 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of making the switch to solar can vary based on several factors, such as what size system you need, your energy usage and what company you go with.Despite the significant upfront cost, the average Norwood homeowner can save about $12,000 on their power bills over 20 years, which is one of the positives of solar.
To receive a free quote from a highly rated solar installer in Norwood, you can click the button below.
Solar savings over time in Norwood
| Year | Return on Investment |
|---|---|
| 1 years | $-16,471 |
| 3 years | $-14,141 |
| 5 years | $-11,811 |
| 7 years | $-9,481 |
| 9 years | $-7,151 |
| 11 years | $-4,821 |
| 13 years | $-2,491 |
| 15 years | $-161 |
| 17 years | $2,169 |
| 19 years | $4,499 |
| 21 years | $6,828 |
| 23 years | $9,158 |
| 25 years | $11,488 |
Top Solar Installers in Norwood
Although you can install solar panels on your own, it takes extra time and handiness. Because of that, almost all homeowners choose a solar panel installer. Plus, if you aren’t sure what kind of solar panels and equipment you need, a solar expert can help you find the right equipment for you after a site survey and consultation.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 Norwood
Factors that Affect Solar Panel Costs in Norwood
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Norwood: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The model of solar panels and equipment you want is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
Most solar companies in Norwood offer solar loans, which reduce the initial cost of installing solar panels.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you hire to handle your switch to clean energy can play a role in your total costs. There are about 3 solar panel companies operating in Norwood, and each can charge different amounts for labor and equipment.The company’s size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $4,748 | 19.0 years |
| 8 kW | $3.48 | $19,478 | $6,713 | 18.6 years |
| 10 kW | $3.41 | $23,870 | $8,868 | 18.2 years |
| 12 kW | $3.34 | $28,071 | $11,215 | 17.9 years |
| 14 kW | $3.27 | $32,081 | $13,752 | 17.5 years |
| 16 kW | $3.21 | $35,900 | $16,481 | 17.1 years |
| 18 kW | $3.14 | $39,529 | $19,400 | 16.8 years |
| 20 kW | $3.07 | $42,966 | $22,511 | 16.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: It’s important to read through your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the best you can get in the business, and offering that kind of warranty is one sign of a quality company.
- Solar Panel Brands: The kind of solar panel you want to install plays a part in which installer you should opt for, since different companies offer different panels.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 Norwood, OH Solar Cost FAQs
What is the average cost of installing solar panels in Norwood?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Norwood?
Solar panels aren’t free in Norwood, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How much can I save on energy bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Norwood, 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 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 are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to 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.