2023 Solar Incentives Guide for Blendon, OH - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Blendon.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2023 and beyond)
- Ways to optimize your solar investment
Solar installers are experts in maximizing your solar tax credits and rebates.
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Updated March 14, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Blendon?
Hamilton County - Home Improvement Program
Consolidated Electric Cooperative - Heat Pump and Water Heating Rebates
Duel Fuel Heat Pump Rebate: $600
Geothermal Heat Pump: $1,000
Local Option - Special Energy Improvement Districts
Energy Conservation for Ohioans (ECO-Link) Program
Solar Renewable Energy Certificates Program (SRECs)
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives mitigate the cost of installing a solar panel system on your home. Financial incentives like these are in place to encourage more Americans to switch to renewable energy. You may qualify for different kinds of incentives, such as cash back, discounts or credit towards your monthly utility bill, depending on your situation. Some incentives come from your specific utility company, county or municipality, some from the Ohio government and others from the federal government. Some broad categories of solar incentives include:
- Solar Renewable Energy Certificate (SREC): SRECs and other performance-based incentives are usually handled by your state government. Once your solar panel system meets a certain threshold (normally a small amount of energy production), you can receive SRECs that can be sold to your utility company or other buyers. The money you make is usually considered part of your taxable income.
- Tax Credits: Tax credits are dollar-for-dollar reductions (not deductions) in how much in taxes you owe the federal government.
- Tax Exemptions: These could come in the form of property tax exemptions, which would allow you to ignore the value added by your solar panels when paying property tax on your house. They may also include exemptions on sales tax at the time of purchase.
- Net Metering: Net metering becomes relevant once your solar system is up and running. If you have a net metering agreement with your Blendon utility company, they will subtract the value of the excess energy produced by your solar system from your utility bill each month. In some areas, this is a dollar-for-dollar credit, while in others you might receive a refund equivalent to a percentage of the value.
- Rebates: Rebates, or partial refunds after a purchase, are typically applied before any solar tax credits are calculated. These rebates can be offered by your local utility company, by your county or by your state.
Federal Solar Incentives
Federal incentives are the kind of incentives that you are most likely to have some familiarity with. The solar incentive that you're most likely to have heard of is the Federal Solar Investment Tax Credit (ITC), which provides a credit on your taxes equal to a percentage of the cost of your solar system.
The ITC applies to solar panels installed after January 1, 2006 on a primary or secondary residence in the United States that you own. The credit initially covered 30% of the total cost — for panels, accessories, labor and equipment — although the percentage may range from 26-30%, depending on when your solar system was installed. There is no cap on the claim amount.
To know exactly how much the ITC could save you, talk to your local Blendon solar panel installation expert.
The ITC has been renewed and expanded following the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. Homeowners can now qualify for a credit of 30% of the total solar system installation costs for projects that began after January 1, 2022 and will be finished by the end of 2032. The credit percentage will then decrease yearly until the Clean Energy Credit ends in 2035. Starting in 2023, it will also be easier to get credits for energy storage systems with the new act.
Click here to learn more about the new Inflation Reduction Act. To best understand how the new Clean Energy Credit applies to you, speak with your local Blendon solar installers.
State & Local Solar Incentives
Some solar incentives are often also provided by state and local governments. Similar to federal incentives, these might include rebates, tax credits and more. Incentives might be handled by your county or municipality, or by the state of Ohio. Certain incentives might only be available for a limited time, while others are ongoing.
Next Steps for Installing Solar in Blendon
The large number of available solar incentives has contributed greatly to the increase in the nationwide adoption of solar energy over the last 15 years. You can get solar incentives from the Ohio government, the federal government or your local utility company. When you're ready to make the change to solar energy, talking to your local Blendon solar panel installation expert is a great first step.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Blendon, OH Solar Incentives FAQs
Can I receive any incentives when I add solar panels to a rental property, vacation home or commercial property?
Many solar incentives apply to a property you own that is located within the United States; most secondary residences will fall under this distinction. There may be other solar incentives available for commercial properties, depending on the specifics. We recommend speaking with your local solar installer and/or tax professional to better understand what incentives apply to your specific situation.
How can I find out if I qualify for different solar incentives?
Typically, solar incentives apply to:
- a new solar panel system
- installed on property that you own
- within the U.S.
- within the date range specified by a particular incentive.
Specific incentives, including those run by the Ohio government or by your county/municipality, may have additional qualifications. Speak with your local Blendon solar installer to learn more about what incentives your project may qualify for.
My home already has solar panels. Are there any incentives that I qualify for?
You should plan to talk to someone from the company that installed your system — or speak to a local Blendon solar installer — to clarify which incentives you may qualify for. If your system was installed after January 1, 2022, you likely qualify for the recently increased 30% tax credit under the Inflation Reduction Act. Solar systems installed between 2006 and 2021 may qualify for a tax credit of 26-30%.
What are some of the environmental benefits of switching to solar energy?
Solar energy is renewable — by switching where you get your energy, you can help lessen the strain on our planet's resources. A solar system can also reduce the CO2 emissions from your home by 450 pounds annually, or around 9,000 pounds in 20 years.
If I trade in my appliances for ones that can utilize solar energy, are there credits that I can claim?
Under the new Inflation Reduction Act, there are a number of new financial incentives to encourage you to make eco-friendly improvements to your home. More details regarding these incentives, including information about incentives for purchasing new appliances, can be found here.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Solar incentive research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.