Solar Panel Cost Guide in University Heights, OH (2024 Update)
- University Heights Solar Installation Cost: $18,803
- 25-Year Savings: $15,515
- Payback Period: 15.9 Years
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Average Cost of Solar Panels in University Heights
Find out what the average cost of solar panels are in University Heights.
The national average cost of solar panels is $2.66 per watt, but in University Heights it’s 3 per watt.The average University Heights 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.
How much you pay can go above or below the average in University Heights depending on a few factors, such as the model of solar panels you choose and the solar installer you hire.Many homeowners find going solar is a solid investment. The average homeowner in University Heights can save about $14,000 on their power bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in University Heights
| 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 University Heights
Although it's possible to install solar panels by yourself, it takes extra time and handiness. Because of that, most people choose to hire a solar panel installer. The payback period on a solar system will vary based on factors like your location and energy use, but working with a solar company can shorten it. Your provider will be able to help you apply for incentives available in your area.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some nearby:
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 University Heights
Factors that Affect Solar Panel Costs in University Heights
There are many criteria that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most significant 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 uses, the larger your system will likely need to be. You can expect to pay about $3,410 per kilowatt in University Heights.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in University Heights offer solar loans, which reduce the initial cost of installing a solar system.When trying to figure 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
Lastly, the company you choose to install your solar panel system can affect how much you pay. University Heights’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in University Heights know more 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 | $7,674 | 16.5 years |
| 8 kW | $3.48 | $19,478 | $10,614 | 16.2 years |
| 10 kW | $3.41 | $23,870 | $13,745 | 15.9 years |
| 12 kW | $3.34 | $28,071 | $17,067 | 15.5 years |
| 14 kW | $3.27 | $32,081 | $20,580 | 15.2 years |
| 16 kW | $3.21 | $35,900 | $24,284 | 14.9 years |
| 18 kW | $3.14 | $39,529 | $28,179 | 14.6 years |
| 20 kW | $3.07 | $42,966 | $32,265 | 14.3 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
- Contract: Before you sign a contract with a solar installer, make sure to read it through fully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.
- Solar Panel Brands: Different companies carry different brands and types of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
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 University Heights, OH Solar Cost FAQs
How much does it cost to install solar panels in University Heights?
This is a difficult question to answer precisely, because the cost depends on many 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. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in University Heights?
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 can’t take advantage of many solar incentives. Also your home 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 financial benefits from going solar.
How much can I save on energy bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in University Heights, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in University Heights?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.