We all want to have a healthy and clean planet, which can be achieved only by protecting Mother Nature, but if can cut down on costs in the meantime, it would be even better.
Solar Renewable Energy Certificates in Ohio
Household bills are ever soaring, and with heating systems and home appliances that are increasing the living standard, but also the bills, we have to find affordable alternatives to make saving on bills and reduce our impact on the environment.
But citizens and residents can only do that much, which is why the involvement of the government is a big win in the state of Ohio.
With the state-mandated net metering requirement put in place by the state of Ohio, the use of solar power has been soaring among residents.
The primary reason for the soaring numbers is the directive that requires utilities to give kilowatt-hour (kWh) credits to households that have installed solar systems which generate excess energy. There’s also the Solar-renewable energy credit program, which though promises lower incentives, still offers incentives to households.
SRECs or Solar Renewable Energy Certificates, refer to certificates offered by the state to recognize that 1MWh/ Megawatt hour of electricity is generated solely by solar power. The certificates are created exclusively by statutes, specifically, the Renewable Portfolio Standard (RPS).
As a result of the provision of these incentives and also the fact that more people are now deciding to go green, even with minimal incentives, Ohio is ranked 19th in the USA for all the savings made from households installing solar panel systems.
Ohio’s Solar Facts
If you live in the state of Ohio, one of the best investments you can ever make is to go solar. In addition to doing good for the environment, installing a solar panel (PV) system also means enjoying incredible incentives mandated by the state itself. With that in mind, what do you need to know about the state of Solar energy in Ohio?
For starters, the state laws require that all utilities in the state must provide full retail net-metering to all their customers.
To ensure that all the utilities in the state comply with this requirement, Ohio has put in place the Renewable Portfolio Standard along with a solar carve out. The solar carve-out represents a statutory requirement in the overall Renewable Portfolio Standard, which requires a specific percentage of the utility companies to buy energy from renewable sources, specifically solar energy.
In this carve out, utilities are required to obtain as much as 12.5% of the electricity they sell from renewable sources of energy. This directive is to be met by all utilities by the year 2027. This Net Metering, along with the 26% federal tax credits, means that your decision to go solar will be the best you make as a homeowner in Ohio.
Here Are the Other Things you Should Know About Solar Energy Use in Ohio
The average lifetime savings you would make from using solar power amount to $56,775, and if you choose not to get solar, you will spend 32 cents to the dollar for every kWh in the next 25 years.
Cash-purchased solar systems cost about $3.10/watt before the 26% federal tax credit and $3.50 if financed. The average cost of installing solar panels in Ohio is between $12,282 and $16,818.
Final thoughts
If you are interested and want to know more about getting solar panels for households or companies check out this website.
