Cost & Savings Breakdown
Based on $150/month electric bill in Lorain
System Size
8 kW
Annual Production
9,542 kWh
Gross System Cost
$23,513
Federal Tax Credit (30%)
-$7,054
State Incentive
-$500
Net Cost
$15,959
Monthly Savings
$122
CO₂ Offset/yr
8,779 lbs
25-Year Savings Projection
Utility & Net Metering
Local UtilityFirstEnergy
Net Metering PolicyFull Retail
Compensation RateFull retail rate
Capacity LimitNo overall limit
Electricity Rate$0.153/kWh
Peak Sun Hours4.1 hrs/day
Available Incentives
30%
Federal ITC — Deduct 30% of your system cost from federal taxes. Available through 2032.
$500
Ohio State Incentive — Ohio offers a sales tax exemption on solar equipment.
Common Questions
How much does solar cost in Lorain?
Solar in Lorain, Ohio costs approximately $23,513 for a 8 kW system. After the 30% federal tax credit, your net cost is about $15,959.
What is the solar payback period in Lorain?
The estimated payback period for solar in Lorain is 10.9 years, based on a $150/month electric bill and local sun hours of 4.1 hrs/day.
Does FirstEnergy offer net metering?
FirstEnergy offers Full Retail net metering. Full retail rate.