Solar Panel Cost Guide in Vermilion, OH (2023 Update)
- Vermilion Solar Installation Cost: $12,569
- 25-Year Savings: $16,589
- Payback Period: 10.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Vermilion
Find out what the average cost of solar panel installation is in Vermilion.
While the national average of solar panels is $2.66 per watt, solar panels in Vermilion typically cost around 2.56. The average Vermilion homeowner needs a 7.0-kilowatt system, which would cost about $12,562 with the federal tax credit, or $17,964 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Vermilion homeowner. The cost 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 adopting solar power is a solid investment. The average homeowner in Vermilion can save about $16,000 on their energy bills over 20 years.
Click the button below to get connected to a top solar company in Vermilion for a personalized estimate.
Solar savings over time in Vermilion
| Year | Return on Investment |
|---|---|
| 1 years | $-12,472 |
| 3 years | $-12,278 |
| 5 years | $-12,083 |
| 7 years | $-11,889 |
| 9 years | $-11,695 |
| 11 years | $-11,500 |
| 13 years | $-11,306 |
| 15 years | $-11,112 |
| 17 years | $-10,917 |
| 19 years | $-10,723 |
| 21 years | $-10,528 |
| 23 years | $-10,334 |
| 25 years | $-10,140 |
Top Solar Installers in Vermilion
When switching to solar energy, many homeowners opt to use a solar installer since overseeing your solar installation yourself can be a challenging project. Local solar installers can also help you optimize your return on investment by walking you through any local incentives you can take advantage of and by offering warranties and repairs.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Vermilion
Factors that Affect Solar Panel Costs in Vermilion
Even though the average cost of a solar system in Vermilion is $12,562, your actual cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,560. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Vermilion, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are provided by most installers in Vermilion, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable. Though solar loans make switching to solar energy more accessible for Vermilion 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 significant cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Vermilion, you'll have lots 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 because of access 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 discount can bring their pricing lower 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 | $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 solar installer you choose will affect 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:
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
- Contract: It's important to read through your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Warranty: If you're concerned about the durability of your solar panel system, making sure 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
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 kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Vermilion?
Solar panels aren't free in Vermilion, but there are some options that can make getting them more feasible, 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 power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located 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 $831.41 per year.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.