Solar Panel Cost Guide in Portage Lakes, OH (2024 Update)
- Portage Lakes Solar Installation Cost: $18,650
- 25-Year Savings: $12,436
- Payback Period: 17.6 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Portage Lakes
Find out what the average cost of solar panel installation is in Portage Lakes.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Portage Lakes, the typical cost of a solar system is 3 per watt.Using this figure, a typical 7.8-kW system would cost about $18,650 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Portage Lakes homeowner. 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.Despite the significant initial cost, the average Portage Lakes homeowner can save about $13,000 on their energy bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a pre-vetted solar installer in Portage Lakes that can help you get a more accurate cost estimate for your home.
Solar savings over time in Portage Lakes
Year | Return on Investment |
---|---|
1 years | $-17,430 |
3 years | $-14,989 |
5 years | $-12,549 |
7 years | $-10,108 |
9 years | $-7,668 |
11 years | $-5,227 |
13 years | $-2,787 |
15 years | $-346 |
17 years | $2,094 |
19 years | $4,535 |
21 years | $6,975 |
23 years | $9,416 |
25 years | $11,856 |
Top Solar Installers in Portage Lakes
Many homeowners decide to use a solar panel installer since trying to install solar panels by yourself can be a lot of work. The payback period on a solar system will vary depending on factors like your location and energy use, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you identify incentives available in your area.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Portage Lakes
Factors that Affect Solar Panel Costs in Portage Lakes
The cost of installing a solar system in Portage Lakes can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $3,410 per kilowatt in Portage Lakes.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Portage Lakes, where sunlight isn’t as abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Portage Lakes homeowners decide to finance their solar panel systems to make paying for solar more affordable.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can impact how much it costs. Portage Lakes’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk pricing, 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 | $3.55 | $14,895 | $5,407 | 18.3 years |
8 kW | $3.48 | $19,478 | $7,592 | 18.0 years |
10 kW | $3.41 | $23,870 | $9,967 | 17.6 years |
12 kW | $3.34 | $28,071 | $12,534 | 17.3 years |
14 kW | $3.27 | $32,081 | $15,291 | 16.9 years |
16 kW | $3.21 | $35,900 | $18,239 | 16.6 years |
18 kW | $3.14 | $39,529 | $21,378 | 16.2 years |
20 kW | $3.07 | $42,966 | $24,708 | 15.9 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose considerably affects your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can check your installer’s reputation is by reading reviews.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Contract: Review the contract terms carefully to make sure you understand the overall cost, project completion timeline rebates and warranties.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Portage Lakes, OH Solar Cost FAQs
How much does it cost to install solar panels in Portage Lakes?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly 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 other solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Portage Lakes?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $676.74 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of 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 install 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.