Benefits of Solar Energy
Solar energy has several advantages that will enhance your home for years to come.
- Better energy independence: Adding a battery storage system lets you have trustworthy energy during storms and grid outages.
- Lowered energy bills: You can skip the expensive cost of grid-tied power by creating some electricity at home. Plus, many states provide net metering which can allow you to sell your unused energy back to credit part of your bill.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
What Solar Incentives Are Available to Liberty Homeowners?
Governments and power companies often reward homeowners for adopting 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 Liberty
Choosing a company is the first step toward a well-oiled and cost-efficient solar array. Consider each of these elements in your contractor search.
Licensing and Training
Ohio may require a solar company 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. Look for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar sector's most respected trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Liberty
Your solar panels' style will affect how much electricity you can generate. Monocrystalline panels are among the highest quality and cost the most but perform the best. Polycrystalline panels offer you a budget panel with a traditional design, but at the cost of less power generation. Thin-film panels have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.
You can also add electric vehicle (EV) chargers and battery backup systems. These will increase your total installation cost, but they can increase your solar system's performance. Not every solar contractor offers these extras, so look for a contractor that installs them if it's crucial for you.
Generally speaking, it costs about $17,050 for a five-kilowatt solar array in Liberty. This table lists more specific costs for different solar panel types and system components in your area.
| 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 Liberty
Choosing the best financing plan will impact your overall solar system cost and possible savings. Common payment options include loans, cash payments, power purchase agreements, and leases. 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 next best option. As with a car or home loan, 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 rent your panels for a fixed monthly rate, while PPAs let you pay just for the energy you use, much like an electric bill. Both options disqualify you for solar incentives and do not provide you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Ask each installer you're evaluating about the payment plans it offers. A staff member can help you determine the best option for your pocketbook.
The table below lists the average payback periods for different capacities of solar systems in Liberty.
You can claim a 26% federal solar tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, local governments and utilities may have their own financing plans and rebates that could reduce your total cost even more.
| 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 |
Ready to Get a Quote on Your Solar Project?
Please enter a valid 5-digit zip code!
Frequently Asked Questions About Solar in Liberty
How much energy and money could I save per year by switching to solar?
Is solar energy readily available in Liberty?
Should I anticipate a boost in my property value after going solar?
Is installing solar panels a quick job?
How do I care for my new solar system?
What size should my new Liberty solar system be?
What are the signs I shouldn't use a particular solar company for my job?
- High-pressure sales tactics
- Not being straightforward about cost, warranties, references and credentials and training
- "One-size-fits-all" approach
- Superficial, rushed site evaluation
- Limited online information
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.
