Solar Panel Cost Guide in Niles, OH (2024 Update)
- Niles Solar Installation Cost: $18,771
- 25-Year Savings: $11,734
- Payback Period: 17.8 Years
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Average Cost of Solar Panels in Niles
Let’s have a look at the average cost of solar in Niles.
While the national average of solar panels is $2.66 per watt, solar panels in Niles typically cost around 3.Since a 7.9-kW system is needed to cover the energy consumption of a typical home in Niles, the average price of going solar will be about $18,771 after claiming the federal solar tax credit of 0.
The true cost of your system can go above or below the average in Niles depending on a few factors, such as the brand of solar panels you choose and the solar installer you hire.Despite the high initial cost, the average Niles homeowner can save about $13,000 on their energy bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a vetted solar installer in Niles for a customized estimate.
Solar savings over time in Niles
| 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 Niles
Putting up solar panels yourself can be a time-consuming task, which is why using a solar installation company is a good option for many homeowners. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives and by offering warranties and repairs.
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 Niles
Factors that Affect Solar Panel Costs in Niles
The cost of installing a solar system in Niles can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of a solar system in Niles, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can gauge by looking at past electricity bills. Your overall cost can increase by about $3,410 for each additional kilowatt you need.The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Niles to be too costly, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in paying more over time due to interest.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Niles is the company you hire to install your solar panel system. As with choosing a company to build a deck or pool, for example, you’ll have many options for solar installers that provide a range of services at different costs.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and decide on the company that has the products, warranties and services you’re looking for and also is within your budget.
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
The solar panel company you opt for will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, such as:
- Contract: Even though reading through a contract can be tedious, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can research your installer’s reputation is by reading reviews.
- Warranty: If you care about the durability of your solar system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Niles, OH Solar Cost FAQs
How much does it cost to install solar panels in Niles?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, 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 Niles?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to 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.
Is it worth going solar in Niles?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out 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 household 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.