Benefits of Solar Energy
Solar energy provides multiple advantages that will enhance your home for years to come.
- Reduced carbon footprint: Adopting solar is a surefire way to decrease 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.
- Better energy independence: Photovoltaic systems with battery storage operate through blackouts and emergencies, and you won't have to depend on the electrical grid for your safety and comfort.
What Solar Incentives Are Available to Youngstown Homeowners?
The state of Ohio offers a range of solar incentives to help cut your solar system costs. Here is a breakdown of relevant solar programs where you live.
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 Youngstown
The cost and efficacy of solar panels often rely on which company installed them. Make your choice based on the following key factors.
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. You should also visit a company's website to learn about its private accreditations. Two of the most prestigious are the Solar Heating Installer and PV Installation Professional certificates, awarded by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.
Cost of Solar Panels in Youngstown
The type of solar panels you select determines how much energy you can generate. Monocrystalline panels cost more but give you the best performance. Polycrystalline panels work with a tried-and-true mechanism and cost less, but produce less power. Thin-film panels aren't recommended for large residential installations, but they are ideal for small projects like converting RVs and sheds.
Additional accessories, such as electric vehicle (EV) chargers and battery storage, will add to your overall costs. However, they might make your solar system more efficient and convenient to use. Not every solar contractor provides these add-ons, so look for a provider that sells them if it's essential for you.
You can expect to pay about $17,050 on average for a five-kilowatt solar energy system in Youngstown. Use the table in this section to get an idea of the amount Youngstown solar companies might quote for your specific system.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Youngstown
Choosing the ideal financing solution will impact your overall solar system cost and potential savings. Common payment options include leases, cash payments, power purchase agreements, and loans. 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 incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Much like a home or auto loan, you'll pay a set monthly rate with as little as $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) lets you pay a monthly rate based only on the energy you use, similar to an electric bill. We typically don’t recommend these two choices because you won't own the system and are disqualified from using solar incentives. Ask each business you're vetting about the financing options it offers. A team member can help you determine the optimal option for your pocketbook.
The table below lists the average payback periods for different capacities of solar systems in Youngstown.
A 26% federal 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
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Frequently Asked Questions About Solar in Youngstown
How much energy and money could I save per year by switching to solar?
How widespread is solar energy in Youngstown?
Should I anticipate a property value increase after switching to solar energy?
What can I do to assess my home's solar viability?
What is a Youngstown solar panel's average lifespan?
What size should my new Youngstown solar system be?
How does "net metering" work, and do I need to participate?
Some states or utilities require you to enroll in net metering when installing your solar system, while others give you a choice. Either way, once you participate, you'll receive a check or bill credit for your excess generation at a retail or wholesale rate.
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