Benefits of Solar Energy
Solar energy provides several advantages that will enhance your home for years to come.
- Reduced carbon footprint: Using clean solar power lowers your dependence on conventional, less environmentally-friendly sources.
- Lowered energy bills: You can avoid the expensive cost of grid-tied power by producing some electricity at home.
- Better energy independence: Photovoltaic systems with battery backups operate through power outages and emergencies, and you won't have to depend on your power company for your safety and well-being.
What Solar Incentives Are Available to Cleveland Homeowners?
Governments and utility companies often reward homeowners for embracing solar. Here are some of the tax credits, rebates, or other programs you could qualify for.
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: Property Tax IncentiveWebsite: city.cleveland.oh.us
100% of increase in assessed real estate property value for 10-15 years
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 Cleveland
Choosing a company is the first step toward a well-oiled and valuable solar system. Consider all of these elements in your company search.
Licensing and Training
Ohio may require a solar installer to hold a state contractors' license, but only for commercial work. For home solar panel installations, cities can establish their own licensing or regulatory requirements. Check a company's website for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar industry's most respected trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Cleveland
Different solar panel types look and perform differently. Monocrystalline panels offer the best energy production but cost more than other options. Polycrystalline panels produce less power, but start at a more budget-friendly price point. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.
You can also add battery backups and electric vehicle (EV) chargers. These will increase your total project price, but they can increase your solar system's efficiency. Not all solar providers offer these additional features, so look for a company that installs them if it's essential for you.
You can plan to spend about $17,050 on average for a five-kilowatt solar energy system in Cleveland. Check the table in this section to get an idea of what amount Cleveland solar companies might quote for your specific system.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Cleveland
Choosing the ideal financing option will influence your overall solar system cost and potential savings. Common payment options include leases, power purchase agreements, cash payments, and loans. We advise making a cash payment or using a solar loan for the highest return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also have full ownership of your system and can apply for solar incentives to minimize your total costs. Solar loans are another good option if you don’t want to make a big initial investment. You can pay for your system in monthly installments while still benefiting from energy bill savings and solar incentives. However, you’ll pay more in total due to accruing interest. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) permits you to pay a monthly rate determined by the energy you use, like an electric bill. We typically don’t recommend these two options because you won't own the solar system and cannot use solar incentives. Look for installers that offer several payment plans to find the right fit for your financial needs.
The table below lists the average payback periods for different capacities of solar systems in Cleveland.
You can claim a 26% federal tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, utilities and local governments may have their own rebates and financing plans that could reduce your total cost even more.
|Solar System Capacity
|Estimated Payback period
Ready to Get a Quote on Your Solar Project?
Frequently Asked Questions About Solar in Cleveland
How much energy and money could I save per year by switching to solar?
Is solar energy widely available in Cleveland?
Should I anticipate a boost in my property value after installing solar panels?
What can I do to assess my home's solar viability?
What care do my solar panels need, and how frequently do they need it?
What is the average payback period for Cleveland solar panels?
How can I maximize my solar array's performance?
- optimize the panels' position with your solar installer
- regularly clean your solar panels
- upgrade to a more efficient inverter trim or cut down trees in the way of your panels
- use energy-efficient appliances
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