Benefits of Solar Energy
Solar energy provides multiple perks. Let's look at a few of them.
- Reduced carbon footprint: Using clean solar power lowers your dependence on fossil fuels, which release greenhouse gases that damage the environment.
- Lowered energy bills: With solar panels, you create power without paying the tacked-on costs of grid-connected power. You can eliminate your bills completely if you go off-grid.
- Better energy independence: Solar panels can keep your home functioning through emergencies and blackouts, giving you additional security. You can use your solar energy anytime with optional battery backup.
What Solar Incentives Are Available to Toledo Homeowners?
Ohio homeowners who choose solar could qualify for special financing, rebates, tax credits and reimbursements. Here are just a few of the region's incentive offerings.
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: 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 Toledo
The price and efficiency of solar panels often depend on the solar company that installed them. Here are some important factors to remember while shopping for a solar company.
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. Check for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of 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 Toledo
Your solar modules' style will affect how much energy you can produce. Monocrystalline panels perform the best but cost the most. Polycrystalline panels generate less, but they're a great traditional option for low budgets. Thin-film panels are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
You can also add battery backups and electric vehicle (EV) chargers. These will increase your total project price, but they can boost your solar system's efficiency. Not all solar contractors include these extras, so look for a contractor that installs them if it's a priority for you.
You can expect to pay about $17,050 on average for a five-kilowatt solar energy system in Toledo. Use the table in this section to get an idea of what amount Toledo solar companies might quote for your specific system.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Toledo
Choosing the correct financing plan will affect your overall solar system cost and expected savings. Common payment options include cash payments, loans, power purchase agreements, and leases. 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 incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Much like a home or car loan, you'll pay a set monthly rate with as little as $0 down. Solar leases allow you to pay a monthly rate 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 suitable in specific circumstances. Ask each business you're evaluating about the payment plans it offers. A staff member can help you determine the best option for your budget.
The table below lists the average payback periods for different capacities of solar systems in Toledo.
You are eligible for a 26% federal tax credit for new solar energy devices until the year 2032. Municipal and state governments and utility companies might also offer discounts, rebates, and specialized financing options that could save you more.
|Solar System Capacity
|Estimated Payback period
Ready to Get a Quote on Your Solar Project?
Frequently Asked Questions About Solar in Toledo
How much energy and money could I save per year by switching to solar?
How popular is solar energy in Toledo?
Will solar energy systems increase my Toledo home value?
What can I do to assess my home's solar viability?
How long is a Toledo solar panel's average lifespan?
What's the average solar system size in Toledo?
What are some "red flags" to watch for as I research companies?
- High-pressure sales tactics
- Dodging questions about training and credentials, references, cost and warranties
- Inflexible options
- Superficial, rushed site evaluation
- Limited customer feedback
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