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

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

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 Chippewa 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 Chippewa?

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/


Solar incentives are designed to make renewable energy usage more affordable through financial incentives to help people install solar panels on their homes. Different kinds of incentives, such as cash back, discounts or monthly utility bill credits, may be available to you. Some incentives may be provided via the state of Ohio, by your utility company or by county or municipality, while other incentives are federal. Types of solar incentives might include:

  • Tax Exemptions: These can come in the form of property tax exemptions, which would allow you to ignore the value added by your solar panels when calculating the taxes you pay on your home. They may also include exemptions on sales tax at the time of purchase.
  • Net Metering: Don't forget to talk with your Chippewa utility company about signing a net metering contract. This will allow you to receive credit towards your utility bill every month for the value of excess energy your solar panels generate. You could receive either a dollar-for-dollar credit or a percentage of the value.
  • Tax Credits: Tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government. (This is different from a tax deduction.)
  • Solar Renewable Energy Certificate (SREC): SRECs and similar performance-based incentives might be available to you if your solar system produces more than a specified (generally small) amount of electricity. This category of incentives is usually handled at the state level. You can sell any SRECs you have to your utility company or other buyers, and the money you make is usually considered part of your taxable income.
  • Rebates: A solar rebate is a partial refund credited to your account after you've paid for your solar panels. These could be offered by your local utility company, your state or your county. The rebates are usually applied before tax credits are calculated.

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

When thinking about solar incentives, federal incentives are likely the first thing that comes to mind. The Federal Solar Investment Tax Credit, or ITC, is the most commonly known federal solar incentive. The ITC provides a tax credit for a set percentage of your solar system's cost.

The ITC applies to the value of a solar system installed on your primary or secondary residence in the United States. The solar system must have been installed on a property you own after January 1, 2006, for you to claim the credit. Originally, the ITC covered 30% of all system costs (panels, labor, accessories and equipment), although this amount has fluctuated slightly over the years between 26-30%. The installation date of your solar system will determine what percentage you are eligible for. There is no cap on the amount you can claim.

To more fully understand how the ITC may apply to your situation, reach out to your local Chippewa solar panel installation expert and ask for more information.

The Inflation Reduction Act, passed in August 2022, made some changes to the ITC (as well as renaming it to the Clean Energy Credit). With the new provisions, solar installation projects started after January 1, 2022, and completed by the end of 2032, can qualify for a 30% tax credit. The amount of the credit will then decrease slightly each year until the end of the current Clean Energy Credit in 2035. Starting in 2023, it will also be easier to claim credits for energy storage systems under this new program.

More information about the new Inflation Reduction Act can be found here. The best way to fully understand how the new Clean Energy Credit might apply to you is to speak with your local Chippewa solar panel installation expert directly.

State & Local Solar Incentives

Federal solar incentives are not your only option; tax credits, rebates and more may be offered at the local or state level. Some incentives are ongoing, while others are only available for a limited time. These incentives might be given by your county or municipality, or by the Ohio government.

Next Steps for Installing Solar in Chippewa

There are many types of solar incentives: those given by local utility companies, those provided by the Ohio government and those given by the federal government, to name a few. The use of solar energy has grown tremendously in the last 15 years, partially due to these incentives. We recommend talking to your local Chippewa solar installer to learn more about these incentives and to ensure that you're getting the largest number possible for your solar panels.

EcoWatch's Chippewa, OH Solar Incentives FAQs

How can I find out if I qualify for solar incentives?

It's a good idea to talk to your local Chippewa solar installer to get an understanding of which incentives your project will qualify for. Typically, 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 provided by the Ohio government, might have additional requirements.

How much will solar panels save me annually on my electric bill in Chippewa?

Typically, Chippewa homeowners who install solar panels save about $719.66 per year, or about $13,673.60 over 20 years after making the switch.

What are some of the environmental benefits of switching to solar?

You can decrease your carbon footprint by 400 pounds of CO2 a year when you install solar panels. This adds up to roughly 8,000 pounds in 20 years. In addition, solar power is a renewable energy source, which means that switching your home over reduces the drain on our planet's resources.

I want to trade in my old appliances for ones that are more energy-efficient. Are there any credits I can get?

With the passage of the new Inflation Reduction Act, there are several new financial incentives for making eco-friendly improvements to your home. More details on 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.

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