Solar Panel Cost Guide in Vermilion, OH (Mar 2023)
- Vermilion Solar Installation Cost: $12,562
- 25-Year Savings: $16,596
- Payback Period: 10.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Vermilion
Let's take a look at the average cost of solar in Vermilion.
The average cost of a solar panel system in Vermilion is 2.56 per watt. Using this figure, a typical 7.0-kW system would cost about $12,562 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy use, the type of solar system you want to get, your solar contractor and more. With average savings of about $16,000 on utility bills over 20 years, many homeowners in Vermilion find investing in solar can pay off big.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Vermilion
| Year | Return on Investment |
|---|---|
| 1 years | $-11,396 |
| 3 years | $-9,063 |
| 5 years | $-6,730 |
| 7 years | $-4,398 |
| 9 years | $-2,065 |
| 11 years | $268 |
| 13 years | $2,600 |
| 15 years | $4,933 |
| 17 years | $7,266 |
| 19 years | $9,598 |
| 21 years | $11,931 |
| 23 years | $14,264 |
| 25 years | $16,596 |
Top Solar Installers in Vermilion
Trying to put up solar panels yourself can be a time-consuming task, which is why using a solar installer is a good option for many homeowners. Another advantage of going with a solar company is that they can help you make the most of your return of investment by lowering your future costs of repairs and replacements because of warranties and informing you of local incentives you can take advantage of.
If you're searching for a solar installer in Vermilion, the EcoWatch team has put together 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 (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 Vermilion
Factors that Affect Solar Panel Costs in Vermilion
For many Vermilion homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Vermilion, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need for your household, 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 $2,560. 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 often have a higher price tag 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 greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Vermilion have solar loans, which reduce your upfront costs of installing solar. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you pick will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $13,760 | 11.2 years |
| 8 kW | $2.61 | $14,623 | $18,634 | 11.0 years |
| 10 kW | $2.56 | $17,920 | $23,650 | 10.8 years |
| 12 kW | $2.51 | $21,074 | $28,810 | 10.6 years |
| 14 kW | $2.46 | $24,084 | $34,114 | 10.3 years |
| 16 kW | $2.41 | $26,952 | $39,561 | 10.1 years |
| 18 kW | $2.36 | $29,676 | $45,151 | 9.9 years |
| 20 kW | $2.30 | $32,256 | $50,885 | 9.7 years |
How to Save on Solar Panels
The company that does your solar 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: Although reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: The type of solar panel you need to get plays a role in which installer you should opt for, since different companies have access to different panels.
- Warranty: If you're concerned about the endurance of your solar system, checking if your installer 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 Vermilion, OH Solar Cost FAQs
How much does it cost to install solar panels in Vermilion?
The average cost of solar panels in Vermilion is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Vermilion?
A solar panel system isn't free in Vermilion, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is it worth going solar in Vermilion?
Solar panels can be a beneficial investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption 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 get 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.