Solar Panel Cost Guide in Minerva, OH (2024 Update)
- Minerva Solar Installation Cost: $18,600
- 25-Year Savings: $15,796
- Payback Period: 15.6 Years
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Average Cost of Solar Panels in Minerva
Find out what the average cost of solar panel installation is in Minerva.
In Minerva, solar panels cost about 3 per watt on average.To cover the typical energy usage of the average home in Minerva, most homeowners require a 7.8-kilowatt system. Using the figure above, a solar installation costs around $18,600, or $26,598 before the federal solar tax credit of 0 is applied.
The actual price you pay can be higher or lower than the average in Minerva depending on several factors, such as the kind of solar panels you choose and the solar company you hire.But, after you've paid the initial cost of installation, the payback for most homeowners is typically rewarding, with a net average savings of about $15,000 over 20 years on electricity bills.
To get a free quote from a top solar installer in Minerva, you can click the button below.
Solar savings over time in Minerva
| Year | Return on Investment |
|---|---|
| 1 years | $-17,379 |
| 3 years | $-14,939 |
| 5 years | $-12,498 |
| 7 years | $-10,058 |
| 9 years | $-7,618 |
| 11 years | $-5,177 |
| 13 years | $-2,737 |
| 15 years | $-296 |
| 17 years | $2,144 |
| 19 years | $4,585 |
| 21 years | $7,025 |
| 23 years | $9,466 |
| 25 years | $11,906 |
Top Solar Installers in Minerva
When going solar, many homeowners opt to use a solar company since handling can be a difficult project. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and component replacements.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Minerva
Factors that Affect Solar Panel Costs in Minerva
The cost of installing a solar system in Minerva can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of a solar energy system in Minerva, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can determine by looking at past power bills. Your total cost can increase by around $3,410 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Minerva, where sunlight isn’t as 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 a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a popular option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.Even though solar loans make adopting solar energy more accessible for Minerva homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Minerva is the company you hire to install your solar system. Similar to choosing a company to build a deck or pool, for instance, there’s no shortage of solar installers that provide a range of services for different budgets.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 more resources and bulk 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 | $3.55 | $14,895 | $8,020 | 16.3 years |
| 8 kW | $3.48 | $19,478 | $11,075 | 15.9 years |
| 10 kW | $3.41 | $23,870 | $14,321 | 15.6 years |
| 12 kW | $3.34 | $28,071 | $17,758 | 15.3 years |
| 14 kW | $3.27 | $32,081 | $21,386 | 15.0 years |
| 16 kW | $3.21 | $35,900 | $25,206 | 14.7 years |
| 18 kW | $3.14 | $39,529 | $29,216 | 14.4 years |
| 20 kW | $3.07 | $42,966 | $33,417 | 14.1 years |
How to Save on Solar Panels
There are numerous companies available in Minerva, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: When going solar, it’s crucial to keep an open line of communication with your solar installer. Make sure you understand how the installation process works and the completion timeline.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Minerva, OH Solar Cost FAQs
What is the average cost of installing solar panels in Minerva?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Minerva is currently $174,095, so you could be looking at a value of about $7,138 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Minerva is a rewarding investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can 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 install between 20 and 35 panels to account for 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.