Solar Panel Cost Guide in Parma, OH (Sep 2022)

  • Parma Solar Installation Cost: $14,121
  • 25-Year Savings: $17,010
  • Payback Period: 11.3 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Parma

Here's how much it might cost to go solar in Parma.

The national average cost of solar panels is $2.66 per watt, but in Parma it's $3 per watt. Since a 7.9-kW system is needed to cover the energy usage of a typical home in Parma, the average price of going solar will be about $14,121 before claiming the federal solar tax credit of 30%.

These figures are only averages, and the cost of going solar for you will vary based on the amount of energy your home requires and what company you go with. With typical savings of about $15,000 on power bills over 20 years, many homeowners in Parma find installing solar panels has a decent ROI.

Click the button below to get connected to a highly rated solar panel company in Parma for a custom estimate.

Solar savings over time in Parma

Year Return on Investment
1 years $-12,876
3 years $-10,385
5 years $-7,895
7 years $-5,404
9 years $-2,914
11 years $-423
13 years $2,067
15 years $4,557
17 years $7,048
19 years $9,538
21 years $12,029
23 years $14,519
25 years $17,010

Top Solar Installers in Parma

Many homeowners decide to hire a solar panel installer since installing solar panels by yourself can be time-consuming. Some solar companies, especially local ones, can help you make the most of incentives in Parma, optimizing your ROI.

There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Parma

Factors that Affect Solar Panel Costs in Parma

While the average cost of solar panels in Parma is $14,121, your actual cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.

Solar Equipment Size

When it comes to estimating the cost of a solar system in Parma, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can determine by looking at past electricity bills. Your total cost can increase by around $2,560 for each additional kilowatt you need. There are several different solar panel brands and the one you pick also changes the cost. Typically, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Parma homeowners choose to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.

Solar Panel Installation Company

The solar company you pick will impact your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and go with the company that offers the products, warranties and services you want and also is within your budget.

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 $12,530 11.8 years
8 kW $2.61 $14,623 $16,993 11.6 years
10 kW $2.56 $17,920 $21,600 11.3 years
12 kW $2.51 $21,074 $26,350 11.1 years
14 kW $2.46 $24,084 $31,244 10.9 years
16 kW $2.41 $26,952 $36,281 10.7 years
18 kW $2.36 $29,676 $41,461 10.4 years
20 kW $2.30 $32,256 $46,784 10.2 years

Solar Incentives in Parma

Name Hamilton County - Home Improvement Program
Incentive Amount $50,000
Website Visit here
More Info Click here

Name Local Option - Special Energy Improvement Districts
More Info Click here

Name Energy Conservation for Ohioans (ECO-Link) Program
Website Visit here
More Info Click here

Name Solar Renewable Energy Certificates Program (SRECs)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:

  • Solar Panel Brands: The kind of solar panel you'd like plays a part in which installer you should choose, since different companies have different panels.
  • Contract: Read the contract terms carefully to make sure you understand how much it will cost, completion timeline incentives and warranties.
  • Warranty: If you care about the longevity of your solar energy system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Parma, OH Solar Cost FAQs

What is the average cost of installing solar panels in Parma?

The average cost of solar panels in Parma 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 type of solar panels you want, what size system you need and how much energy you consume.

Is cost the most important thing to keep in mind 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 places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.

Can you sell solar power back to the grid in Parma?

Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy needs 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 account for 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.

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