Solar Panel Cost Guide in Olmsted Falls, OH (2023 Update)
- Olmsted Falls Solar Installation Cost: $14,116
- 25-Year Savings: $12,793
- Payback Period: 13.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Olmsted Falls
See how much it might cost to go solar in Olmsted Falls.
In Olmsted Falls, solar panels cost about 2.56 per watt on average. The average Olmsted Falls 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.
Keep in mind that the figures above are only estimates based on the average energy use of Olmsted Falls homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. But, once you've paid the upfront cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $13,000 over 20 years on utility bills.
You can click the button below to get connected with a vetted solar installer in Olmsted Falls that can help you get a more accurate cost estimate for your home.
Solar savings over time in Olmsted Falls
| 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 Olmsted Falls
Although you can install solar panels yourself, it takes extra time and know-how. That's one of the reasons most homeowners choose to go with a solar panel installer. Another upside of utilizing a solar company is that they can help you optimize your return of investment by reducing your future costs of repairs and replacements due to warranties and helping you learn about local incentives you can take advantage of.
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
See all of the solar companies in Olmsted Falls
Factors that Affect Solar Panel Costs in Olmsted Falls
For many Olmsted Falls homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Olmsted Falls, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That's why it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. There are many different solar panel brands and the one you pick also affects the cost. Usually, the brands that offer higher efficiency tend to also be more expensive. 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
Many homeowners find the average cost of solar in Olmsted Falls to be too expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest. It's wise to include 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 the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the growing popularity of green energy solutions in Olmsted Falls, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $9,314 | 13.6 years |
| 8 kW | $2.61 | $14,623 | $12,705 | 13.4 years |
| 10 kW | $2.56 | $17,920 | $16,240 | 13.1 years |
| 12 kW | $2.51 | $21,074 | $19,918 | 12.9 years |
| 14 kW | $2.46 | $24,084 | $23,740 | 12.6 years |
| 16 kW | $2.41 | $26,952 | $27,705 | 12.3 years |
| 18 kW | $2.36 | $29,676 | $31,813 | 12.1 years |
| 20 kW | $2.30 | $32,256 | $36,064 | 11.8 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 select the right company for you, here are some tips to keep in mind:
- Contract: Look through the contract terms thoroughly to make sure you understand how much it will cost, project timeline incentives and warranties.
- Solar Panel Brands: The type of solar panel you need to install plays a part in which installer you should go with, since different companies offer different panels.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
- Warranty: If you're concerned about the longevity of your solar energy system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Olmsted Falls, OH Solar Cost FAQs
How much does it cost to install solar panels in Olmsted Falls?
The average cost of solar panels in Olmsted Falls 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 certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Olmsted Falls?
Solar panels aren't free in Olmsted Falls, 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.
Can solar panels completely eradicate my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Olmsted Falls, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.