Solar Panel Cost Guide in Sheffield, OH (Mar 2023)
- Sheffield Solar Installation Cost: $12,687
- 25-Year Savings: $15,342
- Payback Period: 11.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Sheffield
Find out how much it might cost to install solar panels in Sheffield.
While the national average of solar panels is $2.66 per watt, solar panels in Sheffield typically cost around 2.56. The average Sheffield homeowner needs a 7.1-kilowatt system, which would cost about $12,687 with the federal tax credit, or $18,142 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Sheffield 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. Many homeowners find going solar is a sound investment. The average homeowner in Sheffield can save about $15,000 on their power bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Sheffield that can help you get a more accurate cost estimate for your home.
Solar savings over time in Sheffield
| Year | Return on Investment |
|---|---|
| 1 years | $-11,566 |
| 3 years | $-9,324 |
| 5 years | $-7,081 |
| 7 years | $-4,839 |
| 9 years | $-2,597 |
| 11 years | $-354 |
| 13 years | $1,888 |
| 15 years | $4,130 |
| 17 years | $6,373 |
| 19 years | $8,615 |
| 21 years | $10,858 |
| 23 years | $13,100 |
| 25 years | $15,342 |
Top Solar Installers in Sheffield
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Using a solar company can make swapping over to solar power much easier. Companies can also offer access to various kinds of the best solar panels and help you pick which one will be best for you.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Sheffield
Factors that Affect Solar Panel Costs in Sheffield
There are a number of criteria that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,560. The kind of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to think 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 searching for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Sheffield to be too costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest. While solar loans make adopting solar energy more accessible for Sheffield homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Sheffield, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. The size of the company sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater 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 companies.
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 | $12,581 | 11.8 years |
| 8 kW | $2.61 | $14,623 | $17,062 | 11.5 years |
| 10 kW | $2.56 | $17,920 | $21,686 | 11.3 years |
| 12 kW | $2.51 | $21,074 | $26,453 | 11.1 years |
| 14 kW | $2.46 | $24,084 | $31,363 | 10.9 years |
| 16 kW | $2.41 | $26,952 | $36,417 | 10.6 years |
| 18 kW | $2.36 | $29,676 | $41,615 | 10.4 years |
| 20 kW | $2.30 | $32,256 | $46,955 | 10.2 years |
How to Save on Solar Panels
There are a lot of companies available in Sheffield, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Long-standing companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Contract: Though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Warranty: If you're concerned about the longevity of your solar energy system, checking if 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 (coming 2022)
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 Sheffield, OH Solar Cost FAQs
How much does it cost to install solar panels in Sheffield?
This is a hard question to answer exactly, because the cost depends on a few different 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 above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Sheffield?
Solar panels aren't free in Sheffield, 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.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. 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.
How long do solar panels last in Sheffield?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.