16 Best Solar Companies in Loveland, OH (Oct 2022 Review)

The Cost and Benefits of Solar in Loveland

Solar panels are powered by a free energy source — the sun — but before you can take advantage of this you must first pay to install your system. There are a few factors you should take into consideration when trying to determine the overall cost and how much you can save, including:

• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which gives you a tax credit currently worth 30% of your overall installation cost, your local government may offer additional tax exemptions, credits or rebates that will help you save even more. Excluding incentives, you can save an average of $12,000 over the first 20 years with your solar system, too.
• Electricity consumption: The average household in Loveland uses a decent amount of, and consequently may save on their energy bills.
• Your city: This affects how much sunlight your roof gets, which helps determine how many panels you need.
• The cost of electricity in your area: If your local utility rates are high, there's a good chance you'll have a higher return on your investment in a solar panel system. In Loveland, you can save an average of $81 a month on your electricity bills.

So is a solar system worth it? Whether you're trying to decrease your electric bills, greenhouse gas emissions or both, solar panels are a worthwhile investment for many Loveland homeowners.

Solar Incentives in Loveland

One of the great things about installing a solar panel system is earning federal and potentially state incentives. These incentives usually consist of cash rebates, tax benefits and/or solar renewable energy credits. They can cut how much you pay for going solar by 26 to 50% in some cases. Check out the table below to learn what incentives you can benefit from.

Environmental Impact of Switching to Solar in Loveland

If you're considering adding solar panels to your home, one of the primary reasons why may be to reduce your reliance on nonrenewable energy. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Loveland, though. The more energy your family uses, the the more the environment will benefit when you switch to solar since you won't need to use as much nonrenewable energy. Since solar panels don't release CO2 emissions into the atmosphere when generating electricity, they're a good trade for traditional energy sources. In fact, you could reduce your carbon dioxide emissions by about 90 pounds each year. The great things about solar power are abundant — just like solar power is! That's why so many homeowners have been happy with making the switch to solar.