The cost of solar panels in Lakewood, OH (2024)

Updated Jul 9, 2024

  • You'll pay an average of $13,186 to install a 5 kilowatt solar panel system in Lakewood, OH, before incentives.

  • The federal investment tax credit (ITC) lowers that price by 30% of all your solar equipment and installation costs.

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Written by: Emily Walker

As of July 2024, the average solar panel system costs $2.64/W including installation in Lakewood, OH. For a 5 kW installation, this comes out to about $13,186 before incentives, though prices range from $11,208 to $15,164. After the federal tax credit, the average price drops by 30%.

Average price of a 5 kW solar panel installation in Lakewood, OH

Good Price
$11,208 or less
Market Average
$13,186
High Price
$15,164 or more

You'll probably pay even less than what we show here. It doesn't include the federal ITC or Lakewood, OH state incentives, which will lower this price by at least a few thousand dollars.

Your solar panel cost depends on your system's size

It may seem obvious but larger solar panel systems cost more money. We use cost per watt ($/W) so you can easily compare quotes, controlling for slight variations in system size.

While a 5 kW system will only cost you $13,186 in Lakewood, OH, doubling the system size effectively doubles the price, so you'll pay about twice that for a 10 kW system. The higher the price tag, though, the more you'll get back as a credit towards your federal tax bill.

Average solar cost by system size in Lakewood, OH

System Size
System Cost
System Cost (after ITC)
3 kW$7,912$5,538
4 kW$10,549$7,384
5 kW$13,186$9,230
6 kW$15,823$11,076
7 kW$18,460$12,922
8 kW$21,098$14,768
9 kW$23,735$16,614
10 kW$26,372$18,460

Are solar panels worth it in Lakewood, OH?

Solar panels are worth it in most areas, including Lakewood, OH. Certain factors, including the cost of electricity, incentives, climate, and the angle at which the sun hits your roof impact how quickly you break even on your investment relative to other areas around the U.S. 

If you pay for your system with cash, you'll save about $25,660 over 20 years on electricity costs with a 5 kW system in Lakewood, OH. We generate this estimate based on real solar quote data from our Marketplace. It considers your system's cost, the federal tax credit, and inflation rates.

If you don't have access to net metering, these estimates don't account for utility net billing rates.

Payback Period
8.33 Years
20-Year Savings
$25,660
Cost-per-Watt
$2.64

If you can't shell out $13,186 in cash to pay for solar, don't sweat it. You can choose to finance your system with a loan instead. Some companies even offer $0-down loans so you can start saving on day one if your loan payments are less than your current electric bills. Just keep in mind that your long-term savings will be lower with a loan due to interest rates.

Find out what solar panels cost in your area in 2024
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The numbers we're showing are averages. The price you'll pay for solar depends on many factors unique to you and your home:

If you're looking for solar companies in OH, here are some popular suggestions:

  • Ohio Solar Connection
    North Canton, OH
    Established 2022
    Elite Installer
    Welcome to Ohio Solar Connection, where we illuminate your path to sustainable energy solutions! Harnessing the p...
    Elite Installer
    Screened & Verified
    5.0 /5.0
    10 Reviews

    Welcome to Ohio Solar Connection, where we illuminate your path to sustainable energy solutions! Harnessing the p...
  • ESD Solar
    Multi-state
    Established 2014
    Elite Installer
    At ESD Solar you get the best prices, top of the line panels, unbeatable warranties, and exceptional customer ser...
    Elite Installer
    Screened & Verified

    At ESD Solar you get the best prices, top of the line panels, unbeatable warranties, and exceptional customer ser...
  • YellowLite
    Cleveland, OH
    Established 2009
    Advanced Installer
    - Featured in Solar Power World's Top Contractors List for 10 Consecutive Years (2013-2022)
    - 3000+ Installations
    -...
    Advanced Installer
    Screened & Verified
    4.5 /5.0
    73 Reviews

    - Featured in Solar Power World's Top Contractors List for 10 Consecutive Years (2013-2022)
    - 3000+ Installations
    -...
  • Sunshine Saves Inc.
    Columbus, OH
    Established 2012
    Approved Installer
    Our main focus is always on quality, both with equipment used and the installation performed. We offer the best w...
    Approved Installer
    Screened & Verified
    5.0 /5.0
    15 Reviews

    Our main focus is always on quality, both with equipment used and the installation performed. We offer the best w...
  • Palmetto Solar
    Multi-state
    Established 2009
    Approved Installer
    Palmetto is leading the world into a clean energy future by making it easy for homeowners across the United State...
    Approved Installer
    Screened & Verified
    4.5 /5.0
    90 Reviews

    Palmetto is leading the world into a clean energy future by making it easy for homeowners across the United State...

Solar is a major purchase, but you can get the price tag to come down a bit by being an educated shopper. Taking advantage of incentives and rebates and shopping around for quotes can bring down your cost of solar in Lakewood, OH.

Take advantage of federal and local solar incentives

As long as your federal tax bill is high enough, you can take advantage of the federal tax credit in Lakewood, OH. This incentive allows you to apply 30% of your solar installation and equipment costs toward your federal tax bill. If the amount exceeds your tax bill, you can roll over the remaining credit to the following year. Many states also offer great local incentives and rebates.

Get quotes from multiple installers

Comparing multiple solar quotes can save you money through competition and transparency. Each additional quote you receive for solar will help you find the right solar panel system at the right price.

This is where EnergySage can help. With funding from the Department of Energy’s SunShot Prize, EnergySage opened the country’s first (and now the largest) marketplace for home solar panel installations. We gather custom solar quotes from local installers on your behalf and put them in an easy-to-compare format. When you compare quotes for solar panels on the EnergySage Marketplace, you can expect to see prices up to 20% lower than if you work with a single solar company.

Why shop with EnergySage?

Save time & money

Request free quotes from vetted installers in minutes

Unbiased support

Our expert Energy Advisors will help you make the right decision

Trusted, local installers

We pre-screen and monitor all of our partners

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