Solar Panel Cost Guide in Vermilion, OH (2024 Update)

  • Vermilion Solar Installation Cost: $16,743
  • 25-Year Savings: $16,589
  • Payback Period: 14.4 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Vermilion

Find out what the average cost of a solar system is in Vermilion.

The average cost of a solar system in Vermilion is 3 per watt.Because a 7.0-kW system is needed to cover the energy costs of a typical home in Vermilion, the average price of going solar will be about $16,743 after claiming the federal solar tax credit of 0.

Bear in mind that the figures above are only estimates based on the average energy use of Vermilion homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.For most homeowners, the upfront cost of solar power is worth paying. On average Vermilion homeowners see about $16,000 in savings on electricity bills over 20 years.

To see your potential ROI and connect with a local solar company, click the button below.

Solar savings over time in Vermilion

Year Return on Investment
1 years $-15,523
3 years $-13,082
5 years $-10,642
7 years $-8,201
9 years $-5,761
11 years $-3,320
13 years $-880
15 years $1,561
17 years $4,001
19 years $6,442
21 years $8,882
23 years $11,322
25 years $13,763

Top Solar Installers in Vermilion

Trying to install solar panels by yourself can be a difficult project, which is why using a solar installer is a good option for many homeowners. Companies can also offer access to a large variety of the best solar panels and help you pick which one will be right for you.

If you're looking for a solar company in Vermilion, we've organized a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • 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 Vermilion

Factors that Affect Solar Panel Costs in Vermilion

Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few key factors that will push your cost above or below the average in Vermilion: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.

Solar Equipment

The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,410.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get 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 over time on your electric bills. Additionally, extra products, like solar batteries, can bump up your total well above the Vermilion average.

Solar Financing Terms

Most solar installers in Vermilion have solar loans, which reduce the initial cost of installing solar panels.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.

Solar Panel Installation Company

A final factor to consider when trying to evaluate the cost of solar for your home or business in Vermilion is the company you hire to install your solar system. As with choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that provide a range of services at different price points.You may see national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.

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 $10,047 14.9 years
8 kW $3.48 $19,478 $13,778 14.6 years
10 kW $3.41 $23,870 $17,700 14.4 years
12 kW $3.34 $28,071 $21,813 14.1 years
14 kW $3.27 $32,081 $26,117 13.8 years
16 kW $3.21 $35,900 $30,612 13.5 years
18 kW $3.14 $39,529 $35,298 13.2 years
20 kW $3.07 $42,966 $40,175 12.9 years

How to Save on Solar Panels

There are a lot of companies available in Vermilion, and some homeowners feel overwhelmed considering their options. Choosing 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 maintain an open line of communication with your solar installer. Make sure you understand how the installation process will go and the project timeline.
  • Solar Panel Brands: Different companies offer different brands and types of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
  • Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Vermilion, OH Solar Cost FAQs

What is the average cost of installing solar panels in Vermilion?

This is a tough 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 cost more if you want additional 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 opt for a smaller solar panel system or less efficient solar panels.

Should I lease or buy solar panels in Vermilion?

Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.

Is it worth going solar in Vermilion?

Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.

What solar power system size is right for my home?

To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.

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