Solar Panel Cost Guide in Ravenna, OH (2024 Update)
- Ravenna Solar Installation Cost: $18,596
- 25-Year Savings: $12,477
- Payback Period: 17.6 Years
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Average Cost of Solar Panels in Ravenna
Find out what the average cost of solar panels are in Ravenna.
The national average cost of solar panels is $2.66 per watt, but in Ravenna it’s 3 per watt.To cover the typical energy needs of the average home in Ravenna, most homeowners require a 7.8-kilowatt system. Using the per-watt figure above, a solar installation costs about $18,596, or $26,592 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average Ravenna homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.But, once you've paid the initial cost of installation, the savings for most homeowners is typically fruitful, with a net average savings of about $13,000 over 20 years on power bills.
To get a free quote from a pre-vetted solar installer in Ravenna, you can click the button below.
Solar savings over time in Ravenna
| Year | Return on Investment |
|---|---|
| 1 years | $-17,376 |
| 3 years | $-14,935 |
| 5 years | $-12,495 |
| 7 years | $-10,054 |
| 9 years | $-7,614 |
| 11 years | $-5,173 |
| 13 years | $-2,733 |
| 15 years | $-292 |
| 17 years | $2,148 |
| 19 years | $4,588 |
| 21 years | $7,029 |
| 23 years | $9,469 |
| 25 years | $11,910 |
Top Solar Installers in Ravenna
Many homeowners decide to hire a solar panel installer since figuring out how to install solar panels by yourself can be challenging. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you’d like to go solar but still aren’t certain which solar system company to go with, here are our recommendations for providers in Ravenna:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- 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 Ravenna
Factors that Affect Solar Panel Costs in Ravenna
For many Ravenna homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Ravenna, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,410. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. In addition, extra products, such as solar batteries, can bump up your total well above the Ravenna average.
Solar Financing Terms
Most solar installers in Ravenna offer solar loans, which reduce your upfront costs of installing solar.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 can only 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 finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The remaining key cost factor you should keep in mind is the installer you choose. Given the growing popularity of green energy solutions in Ravenna, you’ll have a great number of options to choose from, but each comes at various price points for labor and equipment.The company’s size can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $5,466 | 18.3 years |
| 8 kW | $3.48 | $19,478 | $7,670 | 17.9 years |
| 10 kW | $3.41 | $23,870 | $10,065 | 17.6 years |
| 12 kW | $3.34 | $28,071 | $12,651 | 17.2 years |
| 14 kW | $3.27 | $32,081 | $15,428 | 16.9 years |
| 16 kW | $3.21 | $35,900 | $18,396 | 16.5 years |
| 18 kW | $3.14 | $39,529 | $21,555 | 16.2 years |
| 20 kW | $3.07 | $42,966 | $24,904 | 15.8 years |
How to Save on Solar Panels
The solar panel company you go with will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, including:
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely provide good-quality solar panel installation and expertise.
- Contract: Look through the contract terms carefully to make sure you understand the overall cost, project completion timeline rebates and warranties.
- Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Warranty: If you’re concerned about the longevity of your solar system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- 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 Ravenna, OH Solar Cost FAQs
How much does it cost to install solar panels in Ravenna?
This is a tough question to answer precisely, because the cost depends on a few different 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 be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Are solar panels free in Ravenna?
A solar panel system isn’t free in Ravenna, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
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 energy bills.
How many solar panels should I get to power 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 take a 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.