Solar Panel Cost Guide in Sheffield, OH (2024 Update)
- Sheffield Solar Installation Cost: $16,893
- 25-Year Savings: $15,348
- Payback Period: 15.1 Years
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Average Cost of Solar Panels in Sheffield
Find out what the average cost of solar panel installation is in Sheffield.
The national average cost of solar panels is $2.66 per watt, but in Sheffield it’s 3 per watt.Using this figure, a typical 7.1-kW system would cost about $16,893 before the 0 federal solar tax credit is applied.
How much you pay can go higher or lower than the average in Sheffield based on a variety of factors, such as the kind of solar panels you choose and the solar company you hire.But, after you've paid the initial cost of installation, the payback for most homeowners is usually good, with a net average savings of about $15,000 over 20 years on power bills.
To get a free quote from a highly rated solar installer in Sheffield, you can click the button below.
Solar savings over time in Sheffield
| Year | Return on Investment |
|---|---|
| 1 years | $-15,639 |
| 3 years | $-13,132 |
| 5 years | $-10,624 |
| 7 years | $-8,117 |
| 9 years | $-5,609 |
| 11 years | $-3,101 |
| 13 years | $-594 |
| 15 years | $1,914 |
| 17 years | $4,421 |
| 19 years | $6,929 |
| 21 years | $9,437 |
| 23 years | $11,944 |
| 25 years | $14,452 |
Top Solar Installers in Sheffield
When switching to solar energy, many homeowners decide to hire a solar company since handling can be a time-consuming project. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you’d like to go solar but still aren’t sure which solar panel installer to go with, here are our suggestions for providers nearby:
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 Sheffield
Factors that Affect Solar Panel Costs in Sheffield
There are several criteria that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.There are a lot of different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Sheffield homeowners choose to finance their solar panel systems to make paying for solar more affordable.You’ll have to consider the long-term cost of loans, including the amount of 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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar panel installation company you pick will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Sheffield know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $8,868 | 15.7 years |
| 8 kW | $3.48 | $19,478 | $12,207 | 15.4 years |
| 10 kW | $3.41 | $23,870 | $15,736 | 15.1 years |
| 12 kW | $3.34 | $28,071 | $19,456 | 14.8 years |
| 14 kW | $3.27 | $32,081 | $23,367 | 14.5 years |
| 16 kW | $3.21 | $35,900 | $27,469 | 14.2 years |
| 18 kW | $3.14 | $39,529 | $31,761 | 13.9 years |
| 20 kW | $3.07 | $42,966 | $36,245 | 13.6 years |
How to Save on Solar Panels
The solar installer you go with will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, including:
- Contract: Though reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one sign of a quality company.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
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 Sheffield, OH Solar Cost FAQs
What is the average cost of installing solar panels in Sheffield?
The average cost of solar panels in Sheffield is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Sheffield?
Leasing solar panels can be an attractive choice, because it usually 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
How much can I save on electricity bills after installing solar panels?
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 $792.11 per year.
What solar power system size is right for 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 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.