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Best 3 Solar Companies in Lakewood, OH
The best solar company in Lakewood is YellowLite.
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- Updated 2024-04-18 00:00:00
Lakewood homeowners are privileged to live in plentiful sunlight, both to enjoy and use for energy. Many are hiring top solar installers to get panels on their roofs. With all the options to choose from in this urban jungle, you might feel burnt out searching for a great provider. Discover Lakewood's top-rated solar companies and learn vital decision-making tips on this page.
3 Best Solar Companies in Lakewood
Brands are algorithmically curated from a database of local service providers near you. We require a minimum number of Google reviews and average ratings for provider inclusion.
YellowLite
Ratings are based on our detailed proprietary methodology and review standards.
Wind Turbines of Ohio, LLC
Ratings are based on our detailed proprietary methodology and review standards.
Paradise Energy Solutions
Ratings are based on our detailed proprietary methodology and review standards.
Ranking Methodology
Our team used the following criteria to determine the best Lakewood solar companies.
- Experience and professional licensure: Each company on our list meets state and city licensing requirements and keeps current with industry best practices. Many of them have served the Lakewood community for more than a decade.
- Warranty and service offerings: Solar installers should stand behind their equipment and services with warranties. We evaluated how each company responds to issues and warranty claims, focusing on timeliness and customer happiness.
- Customer feedback and reviews: Most Lakewood solar companies have both favorable and unfavorable reviews. However, a good review ratio reflects a company's dependability and responsiveness to issues.
- Panel brands and quality: The premier solar companies remain current on new technology, offering equipment from innovative, dependable manufacturers.
- Educational approach: Solar technicians must be excellent teachers. They should use their years of experience answer your questions on how to care for your system and maximize its performance.
Facts about Lakewood
- Average Max Temperature:57°F
- Solar Payback Period:15 years
- Average Daily Sunlight:50%
- Homes Powered by Solar:258
- Average Annual Energy Bill:$1,254
- Solar Power per Capita:13.6%
Benefits of Solar Energy
Solar energy has several advantages that will enhance your home for years to come.
- Lowered energy bills: You can dodge the premium 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.
- Better energy independence: Solar panel systems can keep your home powered through emergencies and blackouts. You can use your solar energy anytime with optional battery backup.
- Reduced carbon footprint: Using solar is a surefire way to reduce your carbon footprint and home fossil fuel dependency.
What Solar Incentives Are Available to Lakewood Homeowners?
Ohio homeowners who go solar could qualify for rebates, tax credits, special financing and reimbursements. Here are just a few of the area's incentive programs.
Incentive Type:Loan Program
Website:https://www.hamiltoncountyohio.gov/government/open_hamilton_county/projects/home_improvement_program
Incentive Amount:
$50,000
Incentive Type:PACE Financing
Incentive Amount:
Low-interest, 30-year loan
Incentive Type:Loan Program
Website:http://www.tos.ohio.gov/ECOLINK
Incentive Amount:
Rate reduction available for up to $50,000 and 7 years of the bank loan
Incentive Type:Solar Renewable Energy Credit Program
Incentive Amount:
SREC prices vary based on market conditions
Incentive Type:Personal Tax Credit
Website:https://www.ecowatch.com/solar/ev-appliance-solar-tax-credit-calculator
Incentive 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 Lakewood
Choosing a company is the first step toward a well-oiled and valuable solar array. Consider all of these aspects in your service provider search.
Licensing and Training
Ohio may require a solar company to hold a state contractors' license, but only for commercial work. For residential work, 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 sector's most credible trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Lakewood
The style of solar panels you purchase decides how much energy you can produce. Monocrystalline panels and high-quality and give you the best performance but cost more upfront. Polycrystalline panels produce less power, but they're worth it if you want a traditional panel style without the high cost. Thin-film panels aren't meant for large home installations, but they're excellent for small projects like sheds and RVs.
If you'd like to charge an electric vehicle (EV) or use your solar power in dark weather, you can pay extra for accessories. By choosing the right components, you can make your panel array more productive and user-friendly. Not every solar company includes these optional components, so look for a contractor that sells them if it's essential for you.
A majority of Lakewood homeowners choose solar systems designed for five kilowatts (kW) of electrical capacity. These systems run about $17,050 to set up, considering both materials and labor. You can find more specific solar cost information in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,098.21 |
Solar Polycrystalline | $856.61 |
Thin-Film | $500.79 |
Solar Battery | $702.86 |
Solar Home EV Charger | $2,635.71 |
Financing Solar Energy in Lakewood
There are many ways to pay for a new solar system, and the right one will minimize your overhead. A few of the most common options include cash payments, loans, leases, and power purchase agreements (PPAs). Most solar experts recommend paying cash or using a solar loan. Cash payments demand a large up-front sum, but they save you from 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. Similar to an auto 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) enables you to pay a monthly rate determined by the energy you use, similar to an electric bill. We usually don’t recommend these two choices because you won't own the solar system and are disqualified from using solar incentives. We recommend working with a provider that offers multiple financing options. Speak with each consultant about what's available, and get more than one estimate for the best odds of staying within your financial plan.
The table below lists the average payback periods for different capacities of solar systems in Lakewood.
A 26% federal solar tax credit applies to new home solar systems purchased through 2032. Extra incentives may be available through local governments, usually in the form of rebates and special financing programs.
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 |
Frequently Asked Questions about Solar in Lakewood
On average, Lakewood homeowners pay roughly $1,254 per year for energy. Once you repay your solar array, you could reduce your costs by $790.40 for every kilowatt you produce.
Yes, solar energy is readily available in Lakewood. A growing number of local homes are already using solar power on-site or through utility grids, and Ohio has about 7282 jobs forming its solar economy.
Yes, new solar systems mean higher property values according to the National Renewable Energy Laboratory (NREL.) Homeowners could project a $20 property value increase for each dollar they save on energy. Therefore, $600 in energy savings could increase your home's value by $12,000.
Solar panels could still work in bad weather. Your contractor will position your panels to absorb the most sunlight possible. They might also recommend a back-up power source to keep your system working at its best.
To determine your home's solar readiness, there's no substitute for a comprehensive quote from a local solar contractor. However, you can use the PVWatts tool for a simple solar viability prediction based on public data, including system size, panel efficiency, tree cover, and local weather and topography.
The average payback period for a solar loan in Lakewood is 15.1 years. By paying off extra principal each month, you can shorten the payback period and own your system faster.
After you sign a PPA, your solar provider will not charge to set up and take care of your new panel array. Instead, you'll pay them only for the electricity you generate. Typically, PPAs last for 10–25 years or until you "buy out" of the contract.
If you choose a lease, you'll make fixed payments each month.
With both leases and PPAs, you don't own your panels and lose eligibility for most incentives. Further, you'll have to "buy out" or transfer the contract if you sell your home during the term.
Yes, we recommend asking for free solar quotes from at least three companies. You should thoroughly read each quote and compare financing options, labor fees, prework scope and costs, equipment costs and warranty details. Ensure each quote offers an itemized financial plan and includes your projected payback period.
Sources
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