Solar Panels in Ohio | 2022 Cost and Incentives | SaveOnEnergy®

Ohio Solar Panels: Pricing and Incentives

How much do solar panels cost in Ohio?

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Solar power in Ohio

Like many states, Ohio has embraced solar power over the past several years. While it still ranks in the middle of states for solar energy generation, it’s expected to see one of the highest growth rates over the next five years.  

Homeowners in Ohio can save money and lessen their impact on the environment by installing residential solar panels. Keep reading to learn the benefits of solar panels, how much they cost, and whether they’re right for you.

Ohio solar panel cost

The total cost of solar panels depends on many factors, including where you live, the size, configuration and components of your system, the local labor and permitting costs, and more. The average cost for a photovoltaic (PV) solar system costs between $15,000 and $25,000, with an average cost of between $3 and $5 per watt. While prices will vary, keep in mind tax credits or other incentives can lower your out-of-pocket cost.

Despite the high cost of solar panels, the financial incentives and energy savings mean you can expect to break even within 6-9 years.

The SaveOnEnergy marketplace helps you search, compare, sign up and save on the right energy fit for your home — all for free. If you’re interested in solar, answer a few questions to get an exact price quote from our solar advisors.

Ohio solar panel incentives or rebates

A residential solar system is a big financial investment. Luckily, the federal government, as well as many state and local governments, have put financial incentives in place to help reduce the cost burden.

First, the federal government offers a solar investment tax credit (ITC) to homeowners who invest in solar panels for their homes. The tax credit is 26% through 2022. It goes down to 22% in 2023 and disappears in 2024 unless Congress renews it. This tax incentive can save you thousands of dollars on the cost of your solar panel installation.

In addition to the federal tax credit, Ohio also has financial incentives for homeowners in the state. Ohio’s net metering policy means you can sell your excess energy back to the grid in exchange for credits on your electricity bill. Additionally, the state has an interest rate reduction program to make it more affordable to invest in solar power. The state grants homeowners solar renewable energy certificates when they produce solar energy, which they can then sell for cash.

Why choose Ohio solar power?

Investing in solar panels comes with plenty of benefits, including reducing electricity costs, energy independence, and helping the environment.

Lower energy costs

Installing solar panels for your home can help you to save money on energy. When you have solar panels on your home, they capture sunlight and convert it into usable electricity. And when you have solar energy to power your home with, you don’t have to pay for energy from the traditional electricity grid. Your solar panels can save you more than $1,000 per year on energy costs and many thousands of dollars over the entire life of your solar panels.

Establish energy independence

Solar panels provide the opportunity to reach energy independence. When you are energy independent, you don’t have to rely on the traditional electricity grid to power your home. As a result, you aren’t vulnerable to price hikes, or power outages, if you have a solar battery. When electricity demand is high — often during the summer and winter — prices tend to spike. When you power your home with solar energy, your costs may not increase.

Another benefit of energy independence is that you don’t have to worry about power outages. When your neighbors lose their power due to a storm or downed power line, you can continue to power your home with your stored solar energy.

Go green

Traditional electricity generation is sourced from coal, gas, and oil, which can be harmful to the environment. Solar power is a renewable energy source, you can reduce your home’s carbon footprint and do your part to slow climate change.

Want to learn more about solar energy

Here at SaveOnEnergy, we’re your guide to everything solar energy, from checking your availability and discussing your home’s needs to getting you customized options to go solar with ease. Want to talk with a human? Call our dedicated solar advisors to discuss your solar energy options. Give us a call at 866-492-8331.

Should I buy or lease my solar panels?

When it comes to installing solar panels on your home, you generally have two options: buying or leasing. While leasing solar panels might be the best choice for some homeowners, buying your own solar panels is the most cost-effective option. 

Even if you finance the cost of your solar panels, you will save the most on electricity in the long run. You can also increase the value of your home. Estimates show that solar panels can increase a home’s resale value by $15,000. The federal tax credit and other financial incentives are only available when you own your solar panels. 

While buying your solar panels is the most cost-effective option, leasing solar panels is still a good choice for some homeowners. The lower upfront cost can make solar power more accessible. Additionally, leasing might be a better choice for people renting their homes who don’t want to make a permanent investment.

Community solar projects are a relatively new solution for people who want to benefit from solar power without the upfront cost of solar panels or actually installing solar panels on their homes. Through these shared solar programs, people can buy into the program and receive solar energy to power their homes.

Ohio solar panel companies

Many companies sell solar panels in Ohio, giving you plenty of options when it comes to choosing a provider. As you search for the right solar company in Ohio, remember to thoroughly research your options. Ask for customer testimonials, look up the company’s business history, and ask about warranty options or satisfaction guarantees. You can also use SaveOnEnergy’s solar resources to better understand the solar energy industry before making your decision.

The history of solar power in Ohio

As is the case in many states, solar power in Ohio dates back to the late 1970s, when the state implemented its solar easement regulations. Over the next several decades, the state implemented more solar-friendly policies that included its net metering policy and Advanced Energy Fund to support green energy projects. More recently the state created its Energy Loan Fund and Renewable Portfolio Standard program.

Today, Ohio ranks 24th in the nation for solar energy generation. Solar power currently makes up about 0.64% of the state’s total electricity generation — that’s enough to power more than 100,000 homes. The state also has more than 214 solar companies that provide thousands of jobs in the state, further boosting the local economy.

Ohio has seen a huge increase in solar installations over the past several years. While most of the new installations have been utility installations, followed by commercial installations, residential systems have also been on the rise.

Important solar factors to consider

Solar power comes with plenty of financial and environmental benefits. But before installing solar panels for your home, there are a few things to consider:

  • According to the Department of Energy, solar panels are best suited to south-facing roofs with slopes between 15 and 40 degrees. They are also best for newer roofs in good shape, as they won’t need to be replaced in the near future.
  • Whether a solar system is right for your home depends largely on how much sunlight your home gets. Certain parts of the country get lots of sunlight, but that’s not the case everywhere. Consider not only your weather patterns but also whether there’s anything that obstructs the sunlight in your yard.
  • Some homeowner associations and other neighborhood organizations have restrictions around the use of solar panels. Your system may have to meet certain requirements, or you may need approval before installation.

Solar power FAQs

How much would solar cost in Ohio? Expand / Collapse Toggle

The average cost of a residential solar system is between $15,000 and $25,000, though the cost ultimately depends on your location, the size and configuration of your system, local labor and permitting costs, and more.

Is solar power a good investment in Ohio? Expand / Collapse Toggle

Solar panels can be an excellent investment, consider how much sunlight your home gets and how much energy you use to determine if a solar panel system makes sense for your finances.

How much could I save by investing in solar? Expand / Collapse Toggle

Thanks to the federal ITC, you can save thousands of dollars in the year you buy your solar panels. After that, your savings will depend on your energy usage and costs. If you normally spend $100 per month on electricity and replace your energy use with solar power, then you would save $1,200 per year.

Where can I find a good solar panel installer in Ohio? Expand / Collapse Toggle

SaveOnEnergy is here to answer your solar energy questions. We can help you find the right solar installer for your home. Give us a call to connect with a solar installer near you.

How does solar power help the environment? Expand / Collapse Toggle

Solar energy generation is renewable and doesn’t emit harmful greenhouse gasses like carbon dioxide into the air. As a result, using solar power instead of traditional electricity can help reduce your carbon footprint.