Solar Panel Cost Guide in Parma, OH (2024 Update)
- Parma Solar Installation Cost: $18,803
- 25-Year Savings: $17,015
- Payback Period: 15.1 Years
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Average Cost of Solar Panels in Parma
Find out what the average cost of installing solar panels is in Parma.
The national average cost of solar panels is $2.66 per watt, but in Parma it’s 3 per watt.The average Parma homeowner needs a 7.9-kilowatt system, which would cost about $18,803 with the federal tax credit, or $26,888 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy use, the type of equipment you choose, your solar contractor and more.For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Parma see about $15,000 in savings on energy bills over 20 years.
To receive a free quote from a top solar installation company in Parma, you can click the button below.
Solar savings over time in Parma
| 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 Parma
When making the switch to solar, many homeowners decide to use a solar installation company since installing solar panels yourself can be a challenging project. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance over the lifespan of your panels.
If you're looking for a solar installer in Parma, we've compiled a list of our top suggestions here:
Best National Provider
SunPower
- 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
- 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
See all of the solar companies in Parma
Factors that Affect Solar Panel Costs in Parma
The cost of installing a solar system in Parma can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,410.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Parma, where sunlight isn’t as abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Parma to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in paying more over time due to interest.Although solar loans make switching to solar energy more accessible for Parma homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Parma is the company you get to install your PV system. As with choosing a company to install new cabinets, for example, you’ll have many options for solar installers that provide a range of services for different budgets.Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $8,817 | 15.7 years |
| 8 kW | $3.48 | $19,478 | $12,138 | 15.4 years |
| 10 kW | $3.41 | $23,870 | $15,650 | 15.1 years |
| 12 kW | $3.34 | $28,071 | $19,353 | 14.8 years |
| 14 kW | $3.27 | $32,081 | $23,247 | 14.5 years |
| 16 kW | $3.21 | $35,900 | $27,332 | 14.2 years |
| 18 kW | $3.14 | $39,529 | $31,608 | 13.9 years |
| 20 kW | $3.07 | $42,966 | $36,074 | 13.6 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose considerably affects your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: When looking through your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Warranty: If you’re concerned about the durability of your solar panels, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
Best National Provider
SunPower
- 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
- 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
EcoWatch's Parma, OH Solar Cost FAQs
How much does it cost to install solar panels in Parma?
The average cost of solar panels in Parma 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.
Are solar panels free in Parma?
You can’t get solar panels for free in Parma. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Does Parma have a net metering program?
Most states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.