Benefits of Solar Energy
Solar energy provides numerous advantages that will enhance your home for years to come.
- Reduced carbon footprint: Solar is a highly abundant clean energy source, meaning you can minimize or conquer your home's dependence on non-renewable sources.
- Better energy independence: Photovoltaic solar panel systems with battery storage systems operate through blackouts and emergencies, and you won't have to depend on your power company for your safety and comfort.
- Lowered energy bills: You can skip the added cost of grid-tied power by generating some electricity at home. Plus, many states provide net metering which can allow you to sell your unused energy back for credits on your bill.
What Solar Incentives Are Available to Cleveland Homeowners?
Tennessee agencies and electric companies offer multiple solar incentives to help lower your solar system costs. Below is a breakdown of available solar programs where you live.
Incentive Type: Property Tax Incentive
Incentive Amount:
Depends upon sector
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 Cleveland
Choosing a company is the first step toward a well-oiled and cost-efficient solar energy system. Here are some important factors to remember while searching for a solar installer.
Licensing and Training
Tennessee requires any solar energy project valued at $25,000 or higher to be overseen by a licensed "prime contractor." The prime contractor is responsible for hiring licensed subcontractors as the project demands. Even if a project doesn't cross the $25,000 value threshold, you will still need a master electrician or electrical journeyman to handle permit work. You should also visit a company's website to learn about its private credentials. Two of the most respected are the PV Installation Professional and Solar Heating Installer 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 Cleveland
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.
If you'd like to charge an electric vehicle (EV) or use your solar power in cloudy weather, you can pay extra for add-ons. By selecting the right components, you can make your panel array more efficient and user-friendly. Not every solar contractor provides these add-ons, so look for a provider that sells them if it's crucial for you.
If you're a resident of Cleveland and want a five-kilowatt solar energy system, you could plan to spend about $17,900 for materials and labor. Find more information on specific component and solar panel costs in the table.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,101 |
| Solar Polycrystalline | $859 |
| Thin-Film | $502 |
| Solar Battery | $705 |
| Solar Home EV Charger | $2,643 |
Financing Solar Energy in Cleveland
Solar installers use multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are cash payments, power purchase agreements (PPAs), solar leases and solar loans. Most solar experts recommend paying cash or using a solar loan. Cash payments require 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. Like a car or home loan, you'll pay a set monthly rate with potentially $0 down. Solar leases allow you to use your panels for a set monthly rate, while PPAs let you pay only for the energy you use, akin to an electric bill. Both options disqualify you for solar incentives and don't grant you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Ask each provider you're considering about the financing options it offers. A team 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 Cleveland.
The IRS allows you to claim a 26% federal solar tax credit on your new solar panels, so long as you purchase it before 2032. City and state governments and utilities might also offer their own financing programs, incentives, and rebates that could save you more money.
| Solar System Capacity | Estimated Payback period |
|---|---|
| 1 kW | 2.4 years |
| 2 kW | 4.8 years |
| 5 kW | 12.1 years |
| 10 kW | 24.1 years |
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Frequently Asked Questions About Solar in Cleveland
How much energy and money could I save per year by switching to solar?
How prevalent is solar energy in Cleveland?
Will solar energy systems raise my Cleveland home value?
Could I still use solar power if I live in a dark, rainy, or wooded area?
How do I care for my new solar system?
What is the average payback period for Cleveland solar panels?
How are traditional solar loans and PPAs different?
You might think about a PPA if you don’t want to be responsible for maintaining your panels and don’t want to invest in a system, but keep in mind you won’t be paying toward ownership or be able to access any solar financial incentives. Many solar experts don’t recommend PPAs. Our guide covers other financing options above.
How many estimates should I get before making a final solar company decision?
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