Solar Panel Cost Guide in Richfield, OH (2024 Update)
- Richfield Solar Installation Cost: $18,650
- 25-Year Savings: $12,908
- Payback Period: 17.3 Years
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Average Cost of Solar Panels in Richfield
Let’s take a look at the average cost of solar panels in Richfield.
Although the national average of solar panels is $2.66 per watt, solar panels in Richfield typically cost around 3.The average solar panel system size in Richfield is around 7.8 kilowatts, meaning a cost of about $18,650 for a solar installation, or $26,670 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Richfield homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.With average savings of about $13,000 on power bills over 20 years, many homeowners in Richfield find installing solar panels can pay off big.
You can click the button below to get connected with a pre-vetted solar company in Richfield for a quote for your home.
Solar savings over time in Richfield
| Year | Return on Investment |
|---|---|
| 1 years | $-17,404 |
| 3 years | $-14,914 |
| 5 years | $-12,423 |
| 7 years | $-9,932 |
| 9 years | $-7,441 |
| 11 years | $-4,950 |
| 13 years | $-2,459 |
| 15 years | $31 |
| 17 years | $2,522 |
| 19 years | $5,013 |
| 21 years | $7,504 |
| 23 years | $9,995 |
| 25 years | $12,486 |
Top Solar Installers in Richfield
Putting up solar panels by yourself can be a challenging task, which is why hiring a solar installation company is a good option for many homeowners. Solar warranties and repairs are typically included in the cost of installation when you go with a solar company too, which can save you more money over time.
If you're looking for a solar company in Richfield, we've compiled a list of our top suggestions here:
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 Richfield
Factors that Affect Solar Panel Costs in Richfield
There are a number of factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay about $3,410 per kilowatt in Richfield.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Richfield to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in paying more over time because of interest.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the growing popularity of green energy solutions in Richfield, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.Additionally, some companies in Richfield have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $5,769 | 18.0 years |
| 8 kW | $3.48 | $19,478 | $8,074 | 17.7 years |
| 10 kW | $3.41 | $23,870 | $10,570 | 17.3 years |
| 12 kW | $3.34 | $28,071 | $13,257 | 17.0 years |
| 14 kW | $3.27 | $32,081 | $16,135 | 16.6 years |
| 16 kW | $3.21 | $35,900 | $19,204 | 16.3 years |
| 18 kW | $3.14 | $39,529 | $22,464 | 15.9 years |
| 20 kW | $3.07 | $42,966 | $25,915 | 15.6 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one indication of a quality company.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Contract: Read the contract terms carefully to make sure you understand the total cost, completion timeline rebates and warranties.
- Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
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 Richfield, OH Solar Cost FAQs
How much does it cost to install solar panels in Richfield?
This is a hard question to answer exactly, because the cost depends on many 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 other solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $688.81 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 uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.