2024 Solar Incentives Guide for Brook Park, OH - Tax Credits & Rebates

In this guide, we'll cover the latest solar incentives and rebates available in Brook Park.

You'll learn about:

  • Local & State Solar Incentives
  • Federal Tax Credits (Updated for 2024 and beyond)
  • Ways to optimize your solar investment

Solar installers are experts in maximizing your solar tax credits and rebates.
Get a free quote from one of our trusted Brook Park solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

What Solar Tax Credits, Incentives, and Rebates are Available in Brook Park?

Solar Renewable Energy Certificates Program (SRECs)

Incentive Type:
Solar Renewable Energy Credit Program
SREC prices vary based on market conditions

Energy Conservation for Ohioans (ECO-Link) Program

Incentive Type:
Loan Program
Rate reduction available for up to $50,000 and 7 years of the bank loan

Hamilton County - Home Improvement Program

Incentive Type:
Loan Program
$50,000

Local Option - Special Energy Improvement Districts

Incentive Type:
PACE Financing
Low-interest, 30-year loan

Federal Residential Renewable Energy Tax Credit

Incentive Type:
Personal Tax Credit
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.

Source: https://www.dsireusa.org/


The term "solar incentives" refers broadly to financial incentives put in place by solar companies and the government to encourage increased use of renewable energy by making installing and using solar panels more affordable. These incentives may include upfront discounts, cash back or monthly credits towards your utility bill. Some incentives are handled by the federal government, some by the state of Ohio and some by your specific utility company, county or municipality. You might qualify for any of the following types of solar incentives:

  • Rebates: Solar rebates can be offered by your county or state, or by your local utility company. These rebates are essentially cash back that is applied after you pay for solar panels and before tax credits are calculated.
  • Net Metering: Net metering becomes relevant once your solar panels are up and running. If you have a net metering agreement in place with your Brook Park utility company, they will subtract the value of the excess energy produced by your solar system from your monthly utility bill. In some areas, this credit is dollar-for-dollar, while in other areas you may be refunded a percentage of the value.
  • Solar Renewable Energy Certificate (SREC): SRECs are credits that can be sold to your utility company (or other buyers) for money that normally counts as part of your taxable income. Generally, you must meet a certain (small) threshold of energy production before your solar system can earn SRECs or other performance-based incentives. Incentives like these are normally handled at the state level.
  • Tax Credits: Tax credits decrease, dollar-for-dollar, how much income tax you owe the government. Tax credits are different from tax deductions.
  • Tax Exemptions: Tax exemptions can come in two forms. First, there is sales tax exemption, which is applied at the time you purchase your solar panels. The second is property tax exemption, which allows you to exclude the added value of your solar system when calculating property tax for your house.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

Federal Solar Incentives

Federal incentives are the type of incentives that you are most likely to have some familiarity with. The Federal Solar Investment Tax Credit, or ITC, is likely the most commonly known federal solar incentive. The ITC offers a tax credit for a predetermined percentage of the cost of your solar system.

The ITC applies to solar systems installed after January 1, 2006, on a primary or secondary residence that you own in the United States. The credit initially covered 30% of the total cost – for panels, equipment, labor and accessories – although it may range from 26-30%, depending on the installation date of your solar system. There is no cap on the claim amount.

Reaching out to your local Brook Park solar panel installation expert is the best way to understand how the ITC could apply to you.

In August 2022, the ITC (now called the Clean Energy Credit) was expanded and extended by the passage of the Inflation Reduction Act. Now, solar installation projects that are completed between 2022 and 2032, can qualify for a 30% tax credit. The amount of the credit will then decrease slightly each year until the current Clean Energy Credit expires in 2035. Beginning in 2023, it will also be easier to obtain credits for energy storage systems under the new laws.

More information about the new Inflation Reduction Act can be found here. Your local Brook Park solar panel company can answer any questions you have and explain how the new Clean Energy Credit will apply to you.

State & Local Solar Incentives

Some solar incentives may be offered at the local or state level. As with federal incentives, these can include tax credits, rebates and more. The incentives — which might be handled by your county or municipality, or by the state of Ohio — might be offered on an ongoing basis, or for only a limited time.

Next Steps for Installing Solar in Brook Park

There are a variety of solar incentives: those provided by local utility companies, those provided by the federal government and those offered by the Ohio government, to name a few. The use of solar energy has grown tremendously in the last 15 years, partially due to these incentives. Your local Brook Park solar panel installer can provide you with more details about which incentives you should apply for, and get you started on the path to switching to renewable energy today.

EcoWatch's Brook Park, OH Solar Incentives FAQs

How do I learn if I qualify for different solar incentives?

Generally, solar incentives apply to:

  1. a new solar panel system
  2. installed on property that you own
  3. within the U.S.
  4. within the date range specified by a particular incentive.

Specific incentives, including those run by the Ohio government or by your county/municipality, might have additional qualifications. Get in touch with your local Brook Park solar installer to find out what incentives your project may qualify for.

My home already has solar panels. Does my system qualify for any incentives?

You should plan to talk to the company that installed your system – or call a local Brook Park solar installer — to better understand which incentives you might qualify for. If your system was installed after January 1, 2022, you likely qualify for the newly 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%.

When does the federal solar tax credit end?

The Clean Energy Credit (previously called the federal solar tax credit, or ITC), is scheduled to end on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.

I want to trade in my old appliances for ones that are more energy-efficient. Are there any credits 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 on these incentives, including information about incentives for purchasing new appliances, can be found here.

Can I use multiple types of renewable energy to power my home?

You can power your home with multiple types of renewable energy, or a combination of renewable and non-renewable energy. Be sure to discuss your ideas with your local Brook Park solar installation expert. They can help you as you plan for your project and give you an understanding of various incentives that you may or may not qualify for.

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.

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