Benefits of Solar Energy
Solar energy comes with multiple advantages. Here are some highlights.
- Better energy independence: Solar panel systems can keep your home running through blackouts and emergencies. You can use your solar energy anytime with an optional battery storage system.
- Reduced carbon footprint: Embracing solar is a surefire way to lower your carbon footprint and home fossil fuel dependency.
- Lowered energy bills: You can dodge the expensive cost of grid-tied power by creating some electricity right where you use it. Plus, many states offer net metering which can allow you to sell your unused energy back to credit part of your bill.
What Solar Incentives Are Available to Dayton Homeowners?
Governments and utility companies often reward homeowners for switching to solar. Here are some of the rebates, tax credits or other programs you could qualify for.
Incentive Type: Loan Program
Website: hamiltoncountyohio.govIncentive Amount:
$50,000
Incentive Type: PACE Financing
Incentive Amount:
Low-interest, 30-year loan
Incentive Type: Loan Program
Website: tos.ohio.govIncentive Amount:
Rate reduction available for up to $50,000 and 7 years of the bank loan
Incentive Type: Solar Renewable Energy Credit Program
Website: puco.ohio.govIncentive Amount:
SREC prices vary based on market conditions
Incentive Type: Rebate Program
Website: duke-energy.comIncentive Amount:
Variable Refrigerant Flow HVAC: up to $400
Central AC or Heat pump: $300-$400
Geothermal Heat Pump: $400
Smart Thermostat: $125
Heat Pump Water Heater: $350
Variable Speed Pool Pumps: $300
Duct Sealing: $100
Duct Insulation: $75
Attic Insulation and Air Sealing: $250
Incentive Type: Rebate Program
Website: dpandl.comIncentive Amount:
Heating & Cooling
Air Conditioning: $100 - $150, varies by efficiency and equipment application
Air Source Heat Pump: $150 - $250, varies by efficiency and equipment application
Geothermal Heat Pump: $800 - $1,000, varies by efficiency and equipment application
Heat Pump Water Heaters: $400
Airlfow/Climate Control
WiFi Thermostat: $20-$30
Smart Thermostat: $75
Air Insulation & Sealing: Up to $650, must be through approved contractors
Appliance Recycling: $50
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
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 Dayton
The price and efficacy of solar panels often rely on the solar company that mounted them. Here are some crucial criteria to bear in mind while shopping for a solar provider.
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 trusted trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Dayton
Different solar panel types look and perform differently. Monocrystalline panels cost more than other options, but they generate the most power and generally have the highest quality. Polycrystalline panels provide a lower price point but produce less power. 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 electric vehicle (EV) chargers and battery backup systems. These will increase your total installation cost, but they can improve your solar system's efficiency. Not every solar contractor includes these additional features, so look for a provider that sells them if it's essential for you.
A majority of Dayton homeowners select solar systems sized for five kilowatts (kW) of electrical capacity. These systems run about $17,050 to install, considering both materials and labor. You can see more specific solar cost information in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,130 |
Solar Polycrystalline | $882 |
Thin-Film | $515 |
Solar Battery | $723 |
Solar Home EV Charger | $2,713 |
Financing Solar Energy in Dayton
Choosing the ideal financing plan will impact your overall solar system cost and potential savings. Common payment options include loans, power purchase agreements, leases, and cash payments. Though it requires a large up-front payment, cash is the most cost-effective choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the runner-up option. As with a car loan or mortgage, you'll pay a monthly rate towards system ownership, including interest. You can still apply for money-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases allow you to pay a monthly fee to rent your panels, while a power purchase agreement lets you pay a variable rate based on only the energy you use. We generally don't recommend these options since you will not have ownership of your system and are disqualified from solar incentives, but they might be appropriate in specific circumstances. Ask each provider you're evaluating about the financing options it offers. A staff member can help you determine the most suitable option for your budget.
The table below lists the average payback periods for different capacities of solar systems in Dayton.
The IRS allows you to claim a 26% federal solar tax credit on total system costs, so long as you purchase it before 2032. City and state governments and utilities might also offer their own incentives, financing programs, and rebates that could save you more money.
Solar System Capacity | Estimated Payback period |
---|---|
1 kW | 2.6 years |
2 kW | 5.2 years |
5 kW | 13.1 years |
10 kW | 26.2 years |
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Frequently Asked Questions About Solar in Dayton
How much energy and money could I save per year by switching to solar?
How common is solar energy in Dayton?
Should I anticipate a property value increase after adopting solar power?
Could I still use solar power if I live in a dark, wooded, or rainy area?
What is a Dayton solar panel's average lifespan?
Is solar installation a fast job?
What's the difference between a PPA and a solar lease?
If you choose a lease, you'll make set payments each month.
With both leases and PPAs, you do not own your panels and lose eligibility for some incentives. Further, you'll have to "buy out" or transfer the contract if you sell your home during the term.
How are traditional solar loans and PPAs different?
In contrast, solar loans can come from installer, the government, local banks and specialty lenders. You'll need to pass a credit check to qualify for most of them. While the upfront costs are greater, and you'll be responsible for upkeep, you'll also have full ownership rights and can apply for many more benefits.
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