Solar Panel Cost Guide in Willoughby Hills, OH (2023 Update)
- Willoughby Hills Solar Installation Cost: $13,978
- 25-Year Savings: $13,402
- Payback Period: 12.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Willoughby Hills
Find out what the average cost of solar panel installation is in Willoughby Hills.
The average cost of solar panels in Willoughby Hills is 2.56 per watt. The average solar panel system size in Willoughby Hills is around 7.8 kilowatts, meaning a cost of about $13,978 for a solar installation, or $19,989 before the 30% federal solar tax credit is applied.
The true cost of your system can be higher or lower than the average in Willoughby Hills based on a variety of factors, such as the kind of solar panels you choose and the solar contractor you hire. Many homeowners find going solar is a rewarding investment. The average homeowner in Willoughby Hills can save around $13,000 on their electricity bills over 20 years.
Click the button below to get connected to a highly rated solar company in Willoughby Hills for a custom estimate.
Solar savings over time in Willoughby Hills
| Year | Return on Investment |
|---|---|
| 1 years | $-12,882 |
| 3 years | $-10,692 |
| 5 years | $-8,502 |
| 7 years | $-6,311 |
| 9 years | $-4,121 |
| 11 years | $-1,930 |
| 13 years | $260 |
| 15 years | $2,450 |
| 17 years | $4,641 |
| 19 years | $6,831 |
| 21 years | $9,022 |
| 23 years | $11,212 |
| 25 years | $13,402 |
Top Solar Installers in Willoughby Hills
Although you can install solar panels on your own, it involves extra time and expertise. That's why most homeowners choose to go with a solar panel installer. Plus, if you aren't sure what kind of solar panels and equipment you want, a solar expert can help you find the right equipment for you after a site survey and consultation.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
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 Willoughby Hills
Factors that Affect Solar Panel Costs in Willoughby Hills
For many Willoughby Hills homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Willoughby Hills, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar energy 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, your total will most likely increase by about $2,560. The type of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment consists of more than 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 looking for a solar system that's in your budget.
Solar Financing Terms
Most solar companies in Willoughby Hills provide solar loans, which reduce your upfront costs of installing solar. However, the interest on solar loans also increases your all-in costs, so it's important to take that into consideration as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Willoughby Hills is the company you hire to install your solar panel system. As with choosing a company to renovate your kitchen, for example, you'll have no shortage of solar installers that provide a range of services for different budgets. Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $9,871 | 13.3 years |
| 8 kW | $2.61 | $14,623 | $13,448 | 13.0 years |
| 10 kW | $2.56 | $17,920 | $17,168 | 12.8 years |
| 12 kW | $2.51 | $21,074 | $21,032 | 12.5 years |
| 14 kW | $2.46 | $24,084 | $25,039 | 12.3 years |
| 16 kW | $2.41 | $26,952 | $29,189 | 12.0 years |
| 18 kW | $2.36 | $29,676 | $33,483 | 11.7 years |
| 20 kW | $2.30 | $32,256 | $37,920 | 11.5 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Solar Panel Brands: Each solar panel brand and type has 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.
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 Willoughby Hills, OH Solar Cost FAQs
How much does it cost to install solar panels in Willoughby Hills?
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 additional solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Willoughby Hills?
Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The downside 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.
Does Willoughby Hills have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Willoughby Hills?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using them at a lower efficiency.
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.