Solar Panel Cost Guide in Cortland, OH (2024 Update)
- Cortland Solar Installation Cost: $18,771
- 25-Year Savings: $12,345
- Payback Period: 17.8 Years
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Average Cost of Solar Panels in Cortland
We break down average solar pricing in Cortland.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cortland, the typical cost of a solar system is 3 per watt.To account for the typical energy needs of the average home in Cortland, most homeowners require a 7.9-kilowatt system. Using the figure above, a solar installation costs about $18,771, or $26,843 before the federal solar tax credit of 0 is applied.
The true cost of your system can go above or below the average in Cortland based on several factors, such as the model of solar panels you choose and the solar contractor you hire.Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Cortland can save about $13,000 on their power bills over 20 years.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Cortland
| Year | Return on Investment |
|---|---|
| 1 years | $-17,551 |
| 3 years | $-15,111 |
| 5 years | $-12,670 |
| 7 years | $-10,230 |
| 9 years | $-7,789 |
| 11 years | $-5,349 |
| 13 years | $-2,908 |
| 15 years | $-468 |
| 17 years | $1,972 |
| 19 years | $4,413 |
| 21 years | $6,853 |
| 23 years | $9,294 |
| 25 years | $11,734 |
Top Solar Installers in Cortland
When going solar, many homeowners opt to go with a solar installer since putting up a solar system yourself can be a challenging project. Plus, if you’d like to maximize your investment in solar, using a solar installer can help with that as well. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives and net metering programs.
You can work with a local solar installer to get a free estimate 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
See all of the solar companies in Cortland
Factors that Affect Solar Panel Costs in Cortland
The cost of installing a solar system in Cortland can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar energy system you need for your household, 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 $3,410. The type of solar panels and equipment you choose is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Plus, solar equipment is more than just the solar panels themselves. You’ll also need to make decisions 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 falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Cortland to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to higher prices over time due to interest.However, the interest on solar loans also increases your total costs, so it’s crucial to include that in your estimate as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies in Cortland, and each can charge varying amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 | $3.55 | $14,895 | $5,276 | 18.5 years |
| 8 kW | $3.48 | $19,478 | $7,416 | 18.1 years |
| 10 kW | $3.41 | $23,870 | $9,748 | 17.8 years |
| 12 kW | $3.34 | $28,071 | $12,270 | 17.4 years |
| 14 kW | $3.27 | $32,081 | $14,984 | 17.0 years |
| 16 kW | $3.21 | $35,900 | $17,888 | 16.7 years |
| 18 kW | $3.14 | $39,529 | $20,983 | 16.3 years |
| 20 kW | $3.07 | $42,966 | $24,270 | 16.0 years |
How to Save on Solar Panels
There are a large number of companies available in Cortland, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely offer good-quality solar panel installation and expertise.
- Installation Process: When making the switch to solar power, it’s important to keep an open line of communication with your solar company. Make sure you understand how the installation process works and the project timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of options before deciding.
- Warranty: If you’re worried about the longevity of your solar energy system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Cortland, OH Solar Cost FAQs
How much does it cost to install solar panels in Cortland?
The average cost of solar panels in Cortland is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Cortland?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can you sell solar power back to the grid in Cortland?
The majority of states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
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 amount of 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.