Solar Panel Cost Guide in University Heights, OH (2023 Update)
- University Heights Solar Installation Cost: $14,121
- 25-Year Savings: $15,510
- Payback Period: 11.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in University Heights
Let's have a look at the average cost of solar in University Heights.
Currently, the national average cost of solar panels is $2.66 per watt. However, in University Heights, the typical cost of a solar system is 2.56 per watt. To cover the typical energy needs of the average home in University Heights, most homeowners require a 7.9-kilowatt system. Using the per-watt figure above, a solar installation costs around $14,121, or $20,193 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of installing solar panels can vary based on several factors, such as what size system you need, your energy usage and what company you go with. But, after you've paid the initial cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $14,000 over 20 years on utility bills.
Click the button below to get connected to a reputable solar panel company in University Heights for a custom estimate.
Solar savings over time in University Heights
| Year | Return on Investment |
|---|---|
| 1 years | $-12,936 |
| 3 years | $-10,565 |
| 5 years | $-8,195 |
| 7 years | $-5,824 |
| 9 years | $-3,454 |
| 11 years | $-1,084 |
| 13 years | $1,287 |
| 15 years | $3,657 |
| 17 years | $6,028 |
| 19 years | $8,398 |
| 21 years | $10,769 |
| 23 years | $13,139 |
| 25 years | $15,510 |
Top Solar Installers in University Heights
When making the switch to solar, many homeowners choose to use a solar company since installing a solar system yourself can be a challenging project. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you're searching for a solar installer in University Heights, we've organized a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in University Heights
Factors that Affect Solar Panel Costs in University Heights
Although the average cost of a solar system in University Heights is $14,121, your actual cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
Solar 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 a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. 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 electric bills. In addition, add-on products, such as solar batteries, can bring your total well above the University Heights average.
Solar Financing Terms
Most solar installers in University Heights provide solar loans, which reduce the initial cost of installing a solar system. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar panel installation company you pick will play a role in your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $11,387 | 12.4 years |
| 8 kW | $2.61 | $14,623 | $15,470 | 12.1 years |
| 10 kW | $2.56 | $17,920 | $19,695 | 11.9 years |
| 12 kW | $2.51 | $21,074 | $24,065 | 11.7 years |
| 14 kW | $2.46 | $24,084 | $28,577 | 11.4 years |
| 16 kW | $2.41 | $26,952 | $33,233 | 11.2 years |
| 18 kW | $2.36 | $29,676 | $38,032 | 11.0 years |
| 20 kW | $2.30 | $32,256 | $42,975 | 10.7 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. Because picking a company can be a challenge, we have some tips to help you, such as:
- Contract: When reading through 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 component breaking or the company going out of business.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- 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 considerable role in the company you choose.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's University Heights, OH Solar Cost FAQs
What is the average cost of installing solar panels in University Heights?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly 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 extra solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in University Heights?
Leasing solar panels can be an appealing choice, as it often 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Is it worth going solar in University Heights?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How long do solar panels last in University Heights?
On average, the lifespan of solar panels is 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 larger 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.