11 Best Solar Companies in Lorain, OH (Jul 2022 Review)

The Cost and Benefits of Solar in Lorain

When picking a solar company, most homeowners or business owners think about the costs above all. The overall price and potential savings vary depending on some important factors such as:

• Your energy consumption: If your home uses a lot of energy, you'll reap more rewards from going solar.
• The amount of sunlight your home gets: Due to Lorain's high amount of average daily sunlight, you should be able to save a decent amount on your electric bills.
• Choice of solar panels: The kind of solar panels you buy will affect your total cost. High-efficiency monocrystalline panels will cost more upfront but can also lead to more savings over the lifetime of your system. If you don't need to maximize efficiency, you can go with a higher number of more affordable panels.
• Incentives: The federal solar investment tax credit, which can save you some money, lets you deduct 26% of the cost of your solar system installation from your federal taxes. In addition, not including incentives, you can save about $15,000 over 20 years on your energy bills.

Even though a solar panel system costs a good chunk of money upfront, it can save you thousands of dollars over the lifespan of your panels. The question of how much, though, depends on several factors, such as the angle of your roof and your energy consumption.

Solar Incentives in Lorain

There are a lot of reasons why adopting solar power is beneficial. One of them consists of some government incentives that can help save you some money. Regardless of what state you live in, you can take advantage of the federal Solar Investment Tax Credit (ITC), which will allow you to claim 26% of how much you paid for your solar installation when you file taxes, reducing the amount of taxes you owe that year. Plus, there may be some state and city incentives that stack with the ITC too. For more information about incentives that apply to you, see the table below.

Environmental Impact of Switching to Solar in Lorain

If you're considering adding solar panels to your home, one of the main reasons why may be to reduce your carbon footprint. But — how much exactly can you help the planet by making the switch to solar? Your energy usage is a key factor to keep in mind. The more power your household consumes, the bigger your impact when you switch to solar energy. Since solar panels don't release greenhouse gas emissions into the atmosphere when producing electricity, they're a good swap for nonrenewable energy sources. In fact, you could look forward to lowering your carbon dioxide emissions by about 90 pounds each year. For those who care about the environment, the upfront cost of solar is a small price to pay for reducing your carbon footprint.