Solar Panel Cost Guide in Richmond Heights, OH (2024 Update)
- Richmond Heights Solar Installation Cost: $18,803
- 25-Year Savings: $13,264
- Payback Period: 17.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Richmond Heights
Let’s take a look at the average cost of solar panels in Richmond Heights.
The average cost of a solar panel system in Richmond Heights is 3 per watt.The average Richmond Heights 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.
Bear in mind that the figures above are only estimates based on the average energy use of Richmond Heights homeowners. 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.For many homeowners, the upfront investment in solar is worth paying. On average homeowners in Richmond Heights see about $13,000 in savings on electricity bills over 20 years.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Richmond Heights
| 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 Richmond Heights
Although it's possible to install solar panels yourself, it requires extra time and knowledge. Because of that, most homeowners choose a solar panel installer. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
Working with a vetted solar company 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
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 Richmond Heights
Factors that Affect Solar Panel Costs in Richmond Heights
Though the average cost of a solar system in Richmond Heights is $18,803, your final cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Richmond Heights have solar loans, which reduce the initial cost of installing a solar system.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’re only able to 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 getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The final major cost factor you should take into consideration is the installer you choose. Given the growing popularity of renewable energy solutions in Richmond Heights, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.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 cost more. It’s best to do some research and decide on the 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 | $3.55 | $14,895 | $5,960 | 17.9 years |
| 8 kW | $3.48 | $19,478 | $8,329 | 17.5 years |
| 10 kW | $3.41 | $23,870 | $10,889 | 17.2 years |
| 12 kW | $3.34 | $28,071 | $13,639 | 16.8 years |
| 14 kW | $3.27 | $32,081 | $16,581 | 16.5 years |
| 16 kW | $3.21 | $35,900 | $19,713 | 16.1 years |
| 18 kW | $3.14 | $39,529 | $23,037 | 15.8 years |
| 20 kW | $3.07 | $42,966 | $26,551 | 15.5 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: The kind of solar panel you’d like to get plays a role in which company you should choose, since different companies have access to different panels.
- Warranty: If you’re worried about the endurance of your solar panels, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: When making the switch to solar energy, it’s crucial to maintain an open line of communication with your solar company. See to it that you understand how the installation process will go and the project completion timeline.
- Contract: When looking over your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
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 Richmond Heights, OH Solar Cost FAQs
What is the average cost of installing solar panels in Richmond Heights?
The average cost of solar panels in Richmond Heights 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 stuff like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact my home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Richmond Heights is currently $216,760, which means you can expect a value of about $8,887 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Richmond Heights is a worthwhile investment.
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 amount of 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.