Benefits of Solar Energy
Solar energy offers several advantages that will enhance your home for years to come.
- Reduced carbon footprint: Using clean solar power reduces your dependence on conventional, less environmentally-friendly sources.
- Better energy independence: Solar systems with battery backups operate through blackouts and emergencies, and you won't have to rely on your power company for your safety and comfort.
- Lower energy bills: Sourcing some or all of your own energy will save you money on your electric bills long-term.
What Solar Incentives Are Available to Akron Homeowners?
Ohio homeowners who choose solar could qualify for tax credits, special financing, reimbursements and rebates. Here are just a few of the region's incentive offerings.
Incentive Type: PACE Financing
Low-interest, 30-year loan
Incentive Type: Loan ProgramWebsite: tos.ohio.gov
Rate reduction available for up to $50,000 and 7 years of the bank loan
Incentive Type: Solar Renewable Energy Credit ProgramWebsite: puco.ohio.gov
SREC prices vary based on market conditions
Incentive Type: Personal Tax CreditWebsite: ecowatch.com
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in Akron
The more informed your provider search is, the better your solar panels will ultimately work. Here are some crucial criteria to bear in mind while shopping for a solar company.
Licensing and Training
Ohio may require a solar installer to hold a state contractors' license, but only for commercial work. For residential work, cities can establish their own licensing or regulatory requirements. Solar companies can also pursue certificates from standards organizations and trade groups. The most respected ones in the industry come from the North American Board of Certified Energy Practitioners. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Akron
Your solar panels' type will influence how much energy you can produce. Monocrystalline panels perform the best but cost the most. Polycrystalline panels generate less, but they're a great traditional option for low budgets. Thin-film panels are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
If you need to charge an electric car or use your solar power in inclement weather, you can pay extra for add-ons. By selecting the right components, you can make your system more effective and user-friendly. Not all solar providers include these optional components, so look for a company that installs them if it's essential for you.
If you're a resident of Akron and are looking into a five-kilowatt solar energy system, you could expect to pay about $17,050 for parts and installation. Find more information on specific component and panel costs in the table.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Akron
Choosing the right financing solution will affect your overall solar system cost and potential savings. Common payment options include power purchase agreements, leases, cash payments, and loans. Most solar experts recommend a cash payment or using a solar loan. Cash payments require a large up-front sum, but they save you from paying interest, grant you system ownership, and qualify you for cost-saving incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Similar to an auto or home loan, you'll pay a set monthly rate with as little as $0 down. Solar leases let you rent your panels for a set monthly rate, while PPAs let you pay just for the energy you use, similar to an electric bill. Both options disqualify you for solar incentives and don't grant you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. We recommend working with a contractor that offers multiple financing options. Talk to each consultant about what's available, and secure more than one estimate for the best odds of keeping within your budget.
The table below lists the average payback periods for different capacities of solar systems in Akron.
You are eligible for a 26% federal tax credit for new solar energy devices until the year 2032. City and state officials and utility companies might also offer discounts, rebates, and dedicated financing plans that could save you more.
|Solar System Capacity
|Estimated Payback period
Ready to Get a Quote on Your Solar Project?
Frequently Asked Questions About Solar in Akron
How much energy and money could I save per year by switching to solar?
How popular is solar energy in Akron?
Should I expect a property value increase after adopting solar power?
What can I do to estimate my home's solar viability?
What maintenance do my solar panels need, and how frequently do they need it?
How long does it take to pay back a solar loan in Akron?
How does "net metering" work, and do I need to participate?
What's the difference between a PPA and a solar lease?
You don't own the panels with either option, though you can choose to opt out of the contract for a fee.
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