2023 Solar Incentives Guide for Calcutta, OH - Tax Credits & Rebates

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

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.
Get a free quote from one of our trusted Calcutta solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated September 15, 2023

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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 Calcutta?

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

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

Solar Renewable Energy Certificates Program (SRECs)

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

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/


Solar incentives encourage homeowners to make the switch to renewable energy by offering incentives meant to lower the financial burden of solar panel installation and use. These incentives may include cash back, upfront discounts or monthly credits towards your utility bill. Some incentives are offered by the federal government, some by the state of Ohio and some by your specific utility company, county or municipality. Categories of solar incentives include:

  • Net Metering: Net metering is an incentive you can get once your solar panels are up and running. If you've signed a net metering agreement with your Calcutta utility company, the company will subtract the value of the excess energy produced by your solar system from your utility bill each month. In some locations, this credit is dollar-for-dollar, while in other areas you might get refunded a percentage of the value.
  • Tax Exemptions: Tax exemptions can come in one of two forms. The first is sales tax exemption, which is applied when you purchase solar panels. The second is property tax exemption, which allows you to exclude the value added by your solar system when paying property tax on your home.
  • Rebates: Rebates, or cash back after a purchase, are typically given prior to any solar tax credits being calculated. Solar rebates might be offered by your local utility company, by your county or by your state.
  • Solar Renewable Energy Certificate (SREC): SRECs and other performance-based incentives are normally handled by your state government. Once your solar system meets the threshold (normally a small amount of energy production), you can receive SRECs that can then be sold to your utility company or other buyers. The money you receive is generally considered part of your taxable income.
  • Tax Credits: Tax credits decrease, dollar-for-dollar, the amount of income tax you owe the federal government. Tax credits are different from tax deductions.

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 Warranty Coverage

ADT Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

Federal Solar Incentives

Federal solar incentives are probably the first thing that you think of when you think about solar incentives. One of the incentives that most people are probably familiar with is the Federal Solar Investment Tax Credit (ITC). This is a tax credit for a given percentage of the cost of your solar system.

The ITC covers solar systems installed after January 1, 2006 and under this program you can deduct from your taxes a percentage of the total cost of solar panels, equipment, accessories and labor. This credit can be claimed on solar panels installed on a primary or secondary residence in the United States that you own. The original claim amount was 30% of the total cost, although the amount you can claim may range between 26-30%. There is no maximum claim amount.

To better understand exactly how much the ITC could save you, get in touch with your local Calcutta solar panel installer.

The Inflation Reduction Act, passed in August 2022, made some changes to the ITC (as well as retitling it the Clean Energy Credit). The Clean Energy Credit runs until 2035. Solar installation projects started after January 1, 2022 and completed by the end of 2032 may qualify for a 30% tax credit. This amount will be decreased slightly each year until the current program ends. The expansion also makes credits for energy storage systems even easier to claim, beginning in 2023.

More information about the new Inflation Reduction Act can be found here. Your local Calcutta solar panel company is the best resource for answering your questions about the new Clean Energy Credit and how it applies to you.

State & Local Solar Incentives

In addition to federal solar incentives, there are often also state ones. Rebates, tax credits and more can be offered at a more local level. These incentives might be given out by the Ohio government, or by your county or municipality. Some are available for a limited time, while others are ongoing.

Next Steps for Installing Solar in Calcutta

The nationwide use of solar energy has significantly increased in the past 15 years, in part thanks to the increase in availability of solar incentives. You can obtain these incentives from the federal government, the Ohio government or your local utility company. If you're ready to make the switch to solar energy, talking to your local Calcutta solar panel installation expert is a great first step.

EcoWatch's Calcutta, OH Solar Incentives FAQs

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

It's a smart idea to get in touch with your local Calcutta solar installer for a better understanding of which incentives your project will qualify for. Usually, solar incentives apply to new solar panel systems installed on a property you own (in the U.S.) within a specified date range. Some incentives, such as those offered by the government of Ohio, may have additional requirements.

If I already have solar panels, can I still claim incentives?

Your best bet is to talk to the company that installed your solar panels — or call a local Calcutta solar installer — to learn about which incentives you may 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 panels installed between 2006 and 2021 may qualify for a tax credit of 26-30%.

How much will a solar system save me annually on my electric bill in Calcutta?

Typically, homeowners in Calcutta who install solar panels save approximately $696.34 per year, or approximately $13,230.44 over 20 years after they make the switch.

What are some environmental benefits of installing solar panels on my home?

Solar energy is a renewable energy source — by switching where you get your energy, you can help lessen the strain on our planet's resources. You can also lower your home's CO2 emissions by 400 pounds a year, or around 8,000 pounds in 20 years.

When does the federal solar tax credit end?

The federal solar tax credit, formerly known as the ITC and now called the Clean Energy Credit, is slated to end January 1, 2035. The current 30% credit will end in 2032, replaced by a 26% credit in 2033 and a 22% credit in 2034.

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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