16 Best Solar Companies in Parma, OH (Mar 2023 Review)

The Cost and Benefits of Solar in Parma

We get that for many homeowners, the choice to invest in solar rests on installation costs. Some key factors that affect the cost of installing solar panels on your home and how much it could save you over time are:

• Incentives: The federal solar investment tax credit currently allows you to lower your taxes by 30% of the project cost. Your state and even local utility companies may also have various incentives that you can take advantage of. In addition, you can save about $15,000 over 20 years on your utility bills, before factoring in incentives.
• Choice of solar panels: The kind of solar panels you are interested in getting will affect your total cost. High-efficiency monocrystalline panels are more expensive upfront but can also save you more money over the lifetime of your system. If space isn't a constraint for your project, you can opt for a higher number of more affordable panels.
• The cost of energy for you: If your local power rates are quite high, there's a good chance you'll end up with a higher return on your investment in a solar panel system. In Parma, you can save an average of $104 a month on your electricity bills.
• How much energy your home consumes: Homes that need lots of electricity each month may call for more solar panels and, therefore, be more expensive, but will also benefit more over time.

There are many great benefits of solar even with the initial cost of installation. It can help the planet and your wallet. Additionally, it can boost the value of your home, resulting in even more benefits if you want to sell your home later.

Solar Incentives in Parma

One of the great things about installing a solar panel system is earning federal and potentially state incentives. When you install a solar panel system on your home, you become eligible to claim the federal tax credit, or ITC. This credit currently lowers your tax bill by 30% of the cost of your solar panels. In addition, there may often be some local incentives that you can benefit from to further save. In our article on solar incentives, you can read about the incentives you qualify for near you.

Environmental Impact of Switching to Solar in Parma

If you want to add solar panels to your home, one of the major reasons why may be to reduce your carbon dioxide emissions. A question many might be thinking about is how much can they really help preserve the environment by going solar anyway? In a city like Parma where energy use is rather high, switching to solar energy is a fantastic idea for those who want to do their part for the environment. Since solar panels don't release CO2 emissions into the atmosphere when creating electricity, they're a good substitute for nonrenewable energy sources. In fact, you could reduce your carbon dioxide emissions by about 80 pounds each year. As you can see, going solar has so many other perks besides saving money. One of the major ones is that you can help save the environment too.