Solar Panel Cost Guide in Portage Lakes, OH (2023 Update)
- Portage Lakes Solar Installation Cost: $14,001
- 25-Year Savings: $12,436
- Payback Period: 13.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Portage Lakes
Find out how much it might cost to install solar panels in Portage Lakes.
The national average cost of solar panels is $2.66 per watt, but in Portage Lakes it's 2.56 per watt. Using this figure, a typical 7.8-kW system would cost about $13,996 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Portage Lakes homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $13,000 in savings on electricity bills over 20 years.
To get a free quote from a pre-vetted solar company in Portage Lakes, you can click the button below.
Solar savings over time in Portage Lakes
| Year | Return on Investment |
|---|---|
| 1 years | $-13,913 |
| 3 years | $-13,737 |
| 5 years | $-13,560 |
| 7 years | $-13,384 |
| 9 years | $-13,208 |
| 11 years | $-13,032 |
| 13 years | $-12,855 |
| 15 years | $-12,679 |
| 17 years | $-12,503 |
| 19 years | $-12,327 |
| 21 years | $-12,150 |
| 23 years | $-11,974 |
| 25 years | $-11,798 |
Top Solar Installers in Portage Lakes
Although you can install solar panels on your own, it involves extra energy and handiness. For that reason, the majority of homeowners choose to hire a solar panel installer. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and system component replacements.
Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Portage Lakes
Factors that Affect Solar Panel Costs in Portage Lakes
For many Portage Lakes homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Portage Lakes, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.
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 power your household uses, the larger your system will likely need to be. You can expect to spend about $2,560 per kilowatt in Portage Lakes. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Portage Lakes, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. While solar loans make adopting solar energy more accessible for Portage Lakes homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Finally, the company you choose to install your solar panel system can influence the cost. Portage Lakes' solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $2.66 | $11,182 | $9,120 | 13.8 years |
| 8 kW | $2.61 | $14,623 | $12,447 | 13.5 years |
| 10 kW | $2.56 | $17,920 | $15,917 | 13.2 years |
| 12 kW | $2.51 | $21,074 | $19,531 | 13.0 years |
| 14 kW | $2.46 | $24,084 | $23,288 | 12.7 years |
| 16 kW | $2.41 | $26,952 | $27,188 | 12.4 years |
| 18 kW | $2.36 | $29,676 | $31,231 | 12.2 years |
| 20 kW | $2.30 | $32,256 | $35,418 | 11.9 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose has an impact on 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:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before making your decision.
- Contract: Before you sign a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Portage Lakes, OH Solar Cost FAQs
What is the average cost of installing solar panels in Portage Lakes?
This is a tough question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $12,800 for a 5-kW system and $25,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient 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 less expensive solar panels.
What other factors should I consider other than cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is going solar worth it?
Solar panels can be a great investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage 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 buy 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.