A solar panel is an excellent investment in your home or business, and for good reasons. Just like in many US states, many homeowners and business owners in Ohio today prefer renewable energy to electricity. This energy is reliable and more affordable.
The only cost you have to consider is the initial installation costs. After the panels are installed, these are very low-maintenance, meaning you won’t have to spend much to keep them running. Though the initial installation costs may seem high, there are tax incentives and long-term savings to consider.
Learn more about the cost of installation and why it’s all worth it.
The Cost of Installing Solar Panels in Ohio
The cost of going solar in Ohio is not fixed. The total amount you’ll spend depends on several factors, including:
- Local permitting costs
- Components and configurations of the system
- Brand of panels
- The Ohio solar company you hire
That being said, the average is $11,500-$25,000 to install Cincinnati solar panels. That comes to about $3 or $5 per watt. The cost of installing the panels also varies widely because of varying incentives like tax credits that lower the amount you can spend out of your pocket.
Though this initial installation cost is high, the energy savings and financial incentives can help you break even within the first 5–9 years.
Solar Panels Ohio: Rebates and Incentives
Installing a panel in your home is one of the best investments you can make. Fortunately, local, state, and federal governments have some incentives for homeowners to help cut down on the installation costs and encourage many people to install the panels.
For example, by installing a solar system, you can benefit from an ITC (solar investment tax credit) from the federal government. The ITC incentive can help you save thousands of dollars on your installation costs. This is done by lowering your taxable income, meaning you’ll owe less in taxes.
Ohio also has a net metering policy that allows you to sell your excess power to the national grid and get some credits. You’ll also get a solar renewable energy certificate that you can sell and make some money. Furthermore, Ohio offers a reduction in interest rates to encourage many people to install panels.
Why Choose Solar Power?
Apart from the benefits already mentioned, installing panels will benefit you in the following ways:
- Free energy: Once you recoup your investment, you’ll enjoy electrical energy for free. This means no more electricity bills for your home.
- Independence: With solar energy, you’ll never experience power outages or price hikes. You’ll be guaranteed electrical energy 24/7.
- You contribute to a better environment: This energy is clean, quite different from electricity generated from oil, gas, or coal. By going green, you’ll reduce your carbon footprint and hence be part of those who fight climate change.
Install Cincinnati Solar Panels
As you can see, the benefits of going solar in Ohio outweigh the initial installation costs. When you’ve decided to go forward with the installation, choose qualified and experienced solar companies in Ohio so you get the best results.