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

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

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 Conneaut 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 Conneaut?

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 phrase "solar incentives" refers broadly to financial incentives designed to encourage the use of renewable energy by making the installation and use of solar panels more affordable. You may be eligible for different types of incentives, such as cash back, discounts or monthly utility bill credits, depending on your situation. Certain 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:

  • Rebates: A rebate is a partial refund after the purchase of your solar system. These may be offered by your local utility company, your state or your county. The cash back that you get from the rebates is normally applied before calculating tax credits.
  • Net Metering: You may be able to sign a net metering contract with your Conneaut utility company that will apply to all or a percentage of the excess electricity that is generated by your solar panels. Your utility company will then deduct this value from your monthly utility bill.
  • Tax Exemptions: Tax exemptions can come in one of two forms. First, there is sales tax exemption, which is applied when you purchase solar panels. The second is property tax exemption. This allows you to ignore the value added by your solar system when paying property tax on your home.
  • Solar Renewable Energy Certificate (SREC): SRECs can be sold to your utility company (or other buyers) for cash that typically becomes part of your taxable income. Generally, there is a small threshold of energy production to meet before your solar system is eligible for SRECs or similar performance-based incentives. Incentives like these are generally handled at the state level.
  • Tax Credits: Unlike tax deductions, tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the government.

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, you probably think of federal incentives first. One of the incentives many people are probably familiar with is the Federal Solar Investment Tax Credit (ITC). This is a tax credit for a certain percentage of your solar system's cost.

The ITC originally covered 30% of the total cost of solar system installation, although it has fluctuated slightly over the last few years between 26-30%. The percentage you qualify for will depend on when your solar system was installed. The cost of installation includes the panels themselves as well as the cost of labor, equipment and accessories. There is no maximum amount you can claim. The ITC applies to solar panels installed after January 1, 2006, on your primary or secondary residence. The residence must be in the United States and owned by you.

To understand exactly how much money the ITC could save you, talk to your local Conneaut solar panel installation expert.

In August 2022, the Inflation Reduction Act expanded and extended the ITC, now referred to as the Clean Energy Credit. Under the new program, solar installation projects started after January 1, 2022, and completed by the end of 2032, can qualify for a 30% tax credit. This credit amount will then decrease slightly each year until the current Clean Energy Credit expires in 2035. Beginning in 2023, it will also be easier to qualify for credits for energy storage systems under the new laws.

Click here to learn more about the new Inflation Reduction Act. To better understand how the new Clean Energy Credit will apply to you, talk to your local Conneaut solar installation company.

State & Local Solar Incentives

Not all solar incentives are federal; tax credits, rebates and more are often offered at the state and local level. The incentives — which may be given by your county or municipality, or by the state of Ohio — could be offered for only a limited time, or on an ongoing basis.

Next Steps for Installing Solar in Conneaut

Solar incentives may be provided by your local utility company, the Ohio government or the federal government. The variety of available incentives has facilitated the nationwide growth of solar energy use in the last 15 years. We suggest talking to your local Conneaut solar installation company for more information about these incentives and to make sure that you're getting the largest number possible for your solar system.

EcoWatch's Conneaut, OH Solar Incentives FAQs

If my house already has solar panels, can I still claim incentives?

If your solar panels were installed after January 1, 2022, you may qualify for the newly increased 30% tax credit under the Inflation Reduction Act. If your system was installed between 2006 and 2021, you might qualify for a tax credit between 26% and 30%, depending on the exact installation date. Reaching out to the company that installed your system, or any local Conneaut solar installer, can help you learn more about what incentives you can apply for.

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

When you add solar panels to your home in Conneaut, you can anticipate savings of approximately $699.46 per year, or approximately $13,289.77 over the next 20 years.

When does the federal solar tax credit end?

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

Can I get any financial incentives when I add solar panels to a rental property, vacation home or commercial property?

While we recommend getting in touch with your local solar installer and/or tax professional to fully understand what solar incentives apply to you, many incentives can be claimed on a second home, so long as that home is in the United States and owned by you. There may be other incentives available for commercial properties specifically, depending on the specifics.

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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