Solar Panel Cost Guide in Solon, OH (2024 Update)
- Solon Solar Installation Cost: $18,803
- 25-Year Savings: $12,950
- Payback Period: 17.4 Years
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Average Cost of Solar Panels in Solon
Find out what the average cost of solar panel installation is in Solon.
Although the national average of solar panels is $2.66 per watt, solar panels in Solon typically cost around 3.The average Solon homeowner needs a 7.9-kilowatt system, which would cost about $18,803 with the federal tax credit, or $26,888 before the 0 tax credit is applied.
The true cost of your system can go higher or lower than the average in Solon depending on a few factors, such as the kind of solar panels you choose and the solar company you hire.For most homeowners, the upfront investment in solar power is worth paying. On average Solon homeowners see about $13,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a highly rated solar installer in Solon for a customized quote.
Solar savings over time in Solon
| Year | Return on Investment |
|---|---|
| 1 years | $-17,549 |
| 3 years | $-15,041 |
| 5 years | $-12,534 |
| 7 years | $-10,026 |
| 9 years | $-7,518 |
| 11 years | $-5,011 |
| 13 years | $-2,503 |
| 15 years | $4 |
| 17 years | $2,512 |
| 19 years | $5,020 |
| 21 years | $7,527 |
| 23 years | $10,035 |
| 25 years | $12,542 |
Top Solar Installers in Solon
When switching to solar energy, many homeowners decide to hire a solar company since installing solar panels yourself can be a difficult project. Also, companies with a good reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Solon
Factors that Affect Solar Panel Costs in Solon
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Solon: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Solon, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past power bills. Your total cost can increase by around $3,410 for each additional kilowatt you need.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your energy bills. In addition, extra products, like solar batteries, can bring your total well above the Solon average.
Solar Financing Terms
Many homeowners find the average cost of solar in Solon to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to paying more over time because of interest.Although solar loans make switching to solar energy more accessible for Solon homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last significant cost factor you should consider is the installer you choose. Given the growing popularity of clean energy solutions in Solon, you’ll have plenty of options to choose from, but each comes at varying price points for labor and equipment.Additionally, some companies in Solon have more knowledge about local solar incentives and can help you make good use 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 | $5,721 | 18.1 years |
| 8 kW | $3.48 | $19,478 | $8,010 | 17.7 years |
| 10 kW | $3.41 | $23,870 | $10,490 | 17.4 years |
| 12 kW | $3.34 | $28,071 | $13,160 | 17.0 years |
| 14 kW | $3.27 | $32,081 | $16,022 | 16.7 years |
| 16 kW | $3.21 | $35,900 | $19,075 | 16.3 years |
| 18 kW | $3.14 | $39,529 | $22,319 | 16.0 years |
| 20 kW | $3.07 | $42,966 | $25,753 | 15.6 years |
How to Save on Solar Panels
There are many companies to choose from in Solon, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Contract: It’s important to read through your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Warranty: If you’re concerned about the durability of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Solon, OH Solar Cost FAQs
How much does it cost to install solar panels in Solon?
The average cost of solar panels in Solon 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 things such as the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Solon?
You can’t get solar panels for free in Solon. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
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 Solon is currently $404,172, which means you could be looking at a value of about $16,571 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Solon is a fruitful investment.
How often do you have to replace solar panels?
Though 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 opt to replace them once you've had them for that long or you can continue to use 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.