Benefits of Solar Energy
Solar energy offers multiple perks. Let's look at a few of them.
- Reduced carbon footprint: Embracing solar is a surefire way to reduce your carbon footprint and home fossil fuel dependency.
- Better energy independence: Adding a battery storage system lets you have trustworthy energy during grid outages and storms.
- Smaller power bills: Sourcing some or all of your own energy will spend less on electricity long-term. Plus, some states provide net metering programs that allow you to sell your surplus energy back to the grid, generating extra credits toward your energy bill.
What Solar Incentives Are Available to Fairfield Homeowners?
Governments and power companies often incentivize 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: Loan Program
Website: butlerrural.coopIncentive Amount:
$25,000
Incentive Type: Rebate Program
Website: butlerrural.coopIncentive Amount:
Geothermal Systems (New Installations): $1,200
Geothermal Systems (Replacement Systems): $600
Dual Fuel Heating Systems (New Installations): $600
Dual Fuel Heating Systems (Replacements): $300
Air Source Heat Pump Systems (New and Replacements): $300
Insulation: maximum of $800 or 50% of project cost (whichever is lower)
Air Sealing: maximum of $400 or 50% of project cost (whichever is lower)
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 Fairfield
Choosing a company is the first step toward a well-oiled and cost-efficient solar energy system. Here are some key items to remember 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 residential work, cities can establish their own licensing or regulatory requirements. Solar providers can also earn certificates from trade groups and standards organizations. The most recognized ones in the industry come from the NABCEP. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Fairfield
Different solar panel types look and perform differently. Monocrystalline panels offer the best energy production but cost more than other options 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 car (EV) chargers and battery backup systems. These will increase your total installation cost, but they can enhance your solar system's efficiency. Not all solar contractors provide these additional features, so look for a company that sells them if it's crucial for you.
You can plan to spend about $17,050 on average for a five-kilowatt solar energy system in Fairfield. Use the table in this section to get an idea of what amount Fairfield solar companies might quote for your specific solar system's price.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,116 |
Solar Polycrystalline | $871 |
Thin-Film | $509 |
Solar Battery | $715 |
Solar Home EV Charger | $2,679 |
Financing Solar Energy in Fairfield
Solar companies offer multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are solar loans, power purchase agreements (PPAs), cash payments and solar leases. Most solar experts recommend paying cash or using a solar loan. Cash payments demand a large up-front sum, but they help you avoid paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Much like a car or home loan, you'll pay a set monthly rate with potentially $0 down. 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 generally don’t recommend these two choices because you won't own the system and are disqualified from using solar incentives. Ask each installer you're considering about the financing options it offers. A consultant can help you determine the most suitable option for your pocketbook.
The table below lists the average payback periods for different capacities of solar systems in Fairfield.
The IRS allows you to claim a 26% federal tax credit for solar panels on your new solar panels, so long as you purchase it before 2032. Local governments and utilities might also offer their own financing programs, rebates, and incentives 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 Fairfield
How much money could I save by going solar in Fairfield?
How prevalent is solar energy in Fairfield?
Should I anticipate a property value increase after going solar?
Could I still use solar power if I live in a wooded, dark, or rainy area?
What can I do to calculate my home's solar viability?
What size should my new Fairfield solar system be?
What are the signs I shouldn't use a particular solar company for my job?
- Pressuring you into signing a contract
- Dodging questions about warranties, references, cost and credentials and training
- Inflexible options
- Not thoroughly inspecting your site
- No business filing with your local secretary of state
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 "buy out" of the contract for a fee.
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