Going solar has become increasingly lucrative and popular in recent years. With the utility bills continuously rising along with the average temperatures due to global warming, switching to sustainable energy options benefits more than just a family that saves money doing so. Here’s what you need to know about solar panels in Cincinnati to make an informed decision.
Solar Panel Installation Costs In Cincinnati
When making a decision to install a solar system on your property, the first thing you probably want to know is how much it will cost you. The amount of money you will have to pay depends on many factors, such as the size of your property, the quality of the solar panels, the company you choose to work with, and the size of the solar panel system.
In this table, you will find the prices before and after the ITC, which you can find out more about in the next part. The average price per watt of solar panels in Cincinnati is $2.96.
| System size | Area it covers | Cost |
|---|---|---|
| 1 kW | 90 sq. ft. | $2958 |
| 2 kW | 180 sq. ft. | $5916 |
| 3 kW | 270 sq. ft. | $8874 |
| 4 kW | 360 sq. ft. | $11832 |
| 5 kW | 450 sq. ft. | $14790 |
| 6 kW | 540 sq. ft. | $17748 |
| 7 kW | 630 sq. ft. | $20706 |
| 8 kW | 720 sq. ft. | $23664 |
| 9 kW | 810 sq. ft. | $26622 |
| 10 kW | 900 sq. ft. | $29580 |
The price you pay per watt of solar energy is not all you should take into account when deciding to go solar. The state of Ohio requires you to obtain two permits in order to begin your installation process – a building permit and an electrical permit.
The total cost of these permits is influenced by factors like the project’s overall cost, the size of your property, and your specific location. You can expect to pay anywhere between several hundred and a few thousand dollars in addition to the cost of the solar system.
Another expense you should have in mind is the cost of cleaning and maintaining your solar panels once they are up and running.
Maintenance usually costs up to a thousand dollars per year, but some companies include it in their packages, eliminating this separate expense for you. As for the cleaning part, while you could opt to do it yourself, ensure you take safety precautions, especially if climbing on roofs.
Incentives, Tax Credits, & Rebates For Solar Panels In Cincinnati
ITC is the Investment Tax Credit that can lower the cost by thousands of dollars. Keep reading to find out about other incentives and benefits you can get when installing solar panels on your property in Cincinnati.
Investment Tax Credit (ITC)
The most significant financial incentive available to you is the Investment Tax Credit or ITC. Due to new legislation, this federal program lets you benefit from a 30% deduction off the total installation costs of your solar system when installed between 2022 and 2032. Starting in 2033, this rate will reduce to 26%, and further to 22% in 2034, before phasing out completely in 2035.
It’s important to note that this isn’t a cash rebate. Instead, it reduces the federal taxes you owe. To make the most of this program, ensure you have sufficient taxable income and that you own both the solar system and the property it’s installed on.
| System size | Area it covers | Cost after 30% ITC |
|---|---|---|
| 1 kW | 90 sq. ft. | $2030 |
| 2 kW | 180 sq. ft. | $4060 |
| 3 kW | 270 sq. ft. | $6090 |
| 4 kW | 360 sq. ft. | $8120 |
| 5 kW | 450 sq. ft. | $10150 |
| 6 kW | 540 sq. ft. | $12180 |
| 7 kW | 630 sq. ft. | $14210 |
| 8 kW | 720 sq. ft. | $16240 |
| 9 kW | 810 sq. ft. | $18270 |
| 10 kW | 900 sq. ft. | $20300 |
Solar Renewable Energy Certificate (SREC)
Ohio is one of the states that allow solar panel system owners to sell the energy their solar systems produce during the year to the utility they use. You get one certificate per thousand kilowatt-hours of energy your solar system produces.
Ohio has the lowest cost of one certificate among the other states – only around 8$. The average number of kilowatt-hours a solar panel system produces per year is around 5000. This means that you can sell your certificates for around 40$ per year.
However, you can save the certificates for up to 5 years and wait to see if this price increases. In some states, it is more than 400$ per one certificate, so it’s probably worth the wait.
Net Metering
Most of the electricity providers in Cincinnati, such as Duke Energy, offer net metering for solar system owners. Net metering allows you to sell any excess energy your solar panels produce by sending it to the grid. This way, you get the money and no energy goes wasted.
Savings
Going solar is great for the planet, but it is also great for your finances. If you live in Cincinnati, you are probably used to high electric bills. The average monthly price people pay for electricity is around 140$.
This means that you can pay off your solar system in just a bit more than five years, and still save around 30000$ during the typical lifespan of solar panels of 25 years. If you consider the incentives mentioned above, this amount can increase to $40,000.
Top Solar Companies In Cincinnati
1. Solar Energy Solutions
Solar Energy Solutions is a company that offers residential and commercial solar systems, as well as storage solutions for solar. They serve other industries as well, such as agriculture, education, and government. They also provided contactless visits during the pandemic.
Location: 2368 Norwood Ave, Cincinnati, OH 45212
Phone: 513-400-7340
2. TMI Energy Solutions
This company believes that you can never have too much information (TMI). They are set on giving you the facts and the truth so you can better understand the resources being used today in order to make a sustainable tomorrow. When it comes to solar, they offer solar analysis, project development and management, financing solutions, design, installations, maintenance, and monitoring.
Location: 423 W. Wyoming Avenue Cincinnati, OH 45215
Phone: 513-821-9900
3. GoSun
GoSun is a bit different company. While they do not offer the installation of solar panels, they provide people with portable sustainable energy. You can find many different products on their website – solar ovens, solar coolers, solar chargers, and more.
Location: 1217 Ellis St, Cincinnati, OH 45223
Phone: 888-868-6154
4. SunRock Solar
SunRock Solar has been operating since 2006. Their services include designing and installing solar panels that are reliable and require little maintenance. This company has many satisfied customers and testimonials, which you can check out on their website.
Location: 11311 Foremark Drive Cincinnati, OH 45241
Phone: 513-766-6025
5. Solgen Power
If you decide to hire this company to install your solar system, you can expect the process to start with a free consultation and proposal. They offer both residential and commercial solar installations and guarantee the quality of their products. Solgen Power has already installed almost 40000 solar panels. You can expect to have yours installed in 8-12 weeks since your first call.
Location: 100 Caldwell Dr, Cincinnati, OH 45216
Phone: 513-536-6299
Things To Know When Installing Solar Panels In Cincinnati
Installing solar panels is a fairly easy process considering you have a good company taking care of it. You won’t have to worry about much if your contractor does the design, helps you with permits, and finally, installs the solar system on your property. However, there are some things that you should know about when you decide to take this step.
First of all, the climate of the place you live in is quite important. It’s crucial that you get enough sunlight throughout the year to make the most of what solar panels have to offer. Luckily, Cincinnati gets around 180 sunny days per year, making it suitable for solar energy. It averages around 4.5 peak sun hours per day, which is adequate for efficient solar energy generation.
Next, the position of your home is quite important as well. The best-case scenario, if you live in Cincinnati, is your house is facing south. This is because houses facing south can get the most sunlight during the whole year. If it is not, don’t worry. Your house may still be able to get enough sun to produce the optimal amount of energy you need. One more option is to use a single or dual-axis tracking system. This technology is more expensive, but it follows the sun throughout the year to maximize the solar potential of your system.
Lastly, you should be aware of the optimal tilt angle for your solar panel system. In Cincinnati, your solar panels should be at around 32 degrees, facing south. In case you change their position twice a year, they should be at approximately 15 degrees during summer and 50 degrees in winter.
Keep in mind that you won’t have to worry much about any of this if you hire a good company to do it for you. Your job is to enjoy all of the money you will be able to save in the years to come!
Summary
Considering Cincinnati’s climate, peak sun hours, costs, and benefits, it’s clear that switching to solar energy is a worthwhile investment. While the initial cost can be high if you pay the total amount in cash, you can be almost a hundred percent sure that it will more than pay off in the years to come.