Solar Panel Cost Guide in Ravenna, OH (2023 Update)
- Ravenna Solar Installation Cost: $13,961
- 25-Year Savings: $12,477
- Payback Period: 13.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Ravenna
Find out what the average cost of solar panels are in Ravenna.
The average cost of a solar panel system in Ravenna is 2.56 per watt. Using this figure, a typical 7.8-kW system would cost about $13,960 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy needs, the type of equipment you want to get, your solar contractor and more. But, once you've paid the upfront cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $13,000 over 20 years on electricity bills.
Click the button below to get connected to a top solar company in Ravenna for a custom estimate.
Solar savings over time in Ravenna
| Year | Return on Investment |
|---|---|
| 1 years | $-13,872 |
| 3 years | $-13,696 |
| 5 years | $-13,520 |
| 7 years | $-13,344 |
| 9 years | $-13,167 |
| 11 years | $-12,991 |
| 13 years | $-12,815 |
| 15 years | $-12,639 |
| 17 years | $-12,463 |
| 19 years | $-12,286 |
| 21 years | $-12,110 |
| 23 years | $-11,934 |
| 25 years | $-11,758 |
Top Solar Installers in Ravenna
Although you can install solar panels on your own, it requires extra energy and know-how. Because of that, most people choose to go with a solar panel installer. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
There are several licensed solar professionals that can help you install your solar system. 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 Ravenna
Factors that Affect Solar Panel Costs in Ravenna
Even though the average cost of a solar system in Ravenna is $13,960, your final 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 residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That's why it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The kind of solar panels and equipment you choose is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Moreover, solar equipment is more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Ravenna to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in paying more over time because of interest. However, the interest on solar loans also increases your total costs, so it's important to include that in your estimate as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Ravenna is the company you hire to install your solar panel system. Similar to choosing a company to install new cabinets, for example, you'll have no shortage of solar installers that provide a range of services at different price points. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that offers the products, warranties and services you want and also fit into 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 | $9,179 | 13.7 years |
| 8 kW | $2.61 | $14,623 | $12,525 | 13.5 years |
| 10 kW | $2.56 | $17,920 | $16,015 | 13.2 years |
| 12 kW | $2.51 | $21,074 | $19,648 | 12.9 years |
| 14 kW | $2.46 | $24,084 | $23,425 | 12.7 years |
| 16 kW | $2.41 | $26,952 | $27,345 | 12.4 years |
| 18 kW | $2.36 | $29,676 | $31,408 | 12.1 years |
| 20 kW | $2.30 | $32,256 | $35,614 | 11.9 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Contract: Read the contract terms carefully to make sure you understand the overall cost, completion timeline rebates and warranties.
- Warranty: If you care about the longevity of your solar panel system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Ravenna, OH Solar Cost FAQs
How much does it cost to install solar panels in Ravenna?
This is a difficult question to answer exactly, because the cost depends on a variety of 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. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Ravenna?
You can't get solar panels for free in Ravenna. 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 Ravenna have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future power bills.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home uses 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 house 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.