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

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

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 Forestville solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated March 14, 2023

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 Forestville?

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

Duke Energy (Gas & Electric) - Residential Efficiency Rebate Program

Incentive Type:
Rebate Program
Variable Refrigerant Flow HVAC: up to $400
Central AC or Heat pump: $300-$400
Geothermal Heat Pump: $400
Smart Thermostat: $125
Heat Pump Water Heater: $350
Variable Speed Pool Pumps: $300
Duct Sealing: $100
Duct Insulation: $75
Attic Insulation and Air Sealing: $250

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 intended to make renewable energy usage more affordable through financial incentives to help people install solar panels on their homes. You may be eligible for several kinds of incentives, including discounts, cash back 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 state of Ohio and others from the federal government. Categories of solar incentives include:

  • Net Metering: Be sure to talk with your Forestville utility company about signing a net metering agreement. This allows you to get a credit towards your monthly utility bill for the value of excess energy generated by your solar panels. You might receive either a dollar-for-dollar credit or a percentage of the value.
  • Rebates: A rebate is a partial refund credited to your account after you've paid for your solar panels. These might be offered by your local utility company, your county or your state. The cash back that you get from the rebates is normally applied before tax credits are calculated.
  • Solar Renewable Energy Certificate (SREC): SRECs and similar performance-based incentives are generally handled at the state level. Once your solar panel system meets the qualification threshold (typically a small amount of energy production), you are eligible to receive SRECs that you can then sell to your utility company or other buyers. The money you receive is usually considered part of your taxable income.
  • Tax Credits: Unlike tax deductions, tax credits reduce, dollar-for-dollar, the amount of income tax that you owe the federal government.
  • Tax Exemptions: These could come in the form of property tax exemptions, which let you exclude the value added by your solar panels when paying taxes on your home. You may also qualify for an exemption on sales tax at the time of purchase.

Federal Solar Incentives

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

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

Curious how the ITC might apply to your specific situation? Get in touch with your local Forestville solar panel installation expert to get more information.

In August 2022, the ITC (now referred to as the Clean Energy Credit) was expanded and extended by the passage of the Inflation Reduction Act. Under the new program, solar installation projects that are completed between 2022 and 2032 can qualify for a 30% tax credit. This credit amount will then see a slight annual decrease until the end of the current Clean Energy Credit in 2035. Beginning 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. Your local Forestville solar panel installers are the best people to answer your questions about the new Clean Energy Credit and how it applies to you.

State & Local Solar Incentives

There are more than just federal solar incentives; tax credits, rebates and more might also be offered at the state and local level. Certain incentives are ongoing, while others are offered for only a limited time. Your local incentives may come from your county or municipality, or from the Ohio government.

Next Steps for Installing Solar in Forestville

Solar incentives may come from the Ohio government, the federal government or your local utility company. The variety of solar incentives available has contributed to a large increase in solar energy use in the last 15 years. Getting in touch with your local Forestville solar panel installation company is an excellent first step towards getting the most money possible when you switch to solar energy.

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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Forestville, OH Solar Incentives FAQs

How can I learn if I qualify for solar incentives?

In most cases, solar incentives apply to:

  1. a new solar 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, could have additional qualifications. Talk to your local Forestville solar installer to learn more about what incentives your project will qualify for.

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 recently increased 30% tax credit under the Inflation Reduction Act. If you installed your system between 2006 and 2021, you may qualify for a tax credit between 26% and 30%, depending on the date of installation. Speaking with a representative from the company that installed your solar system, or any local Forestville solar installer, can help you understand what incentives you qualify for.

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

Typically, Forestville homeowners who install solar panels save around $654.77 per year, or around $12,440.57 over 20 years after making the switch.

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

Solar energy is renewable — by changing where you get your energy, you can help reduce the strain on our planet's resources. A solar system can also reduce your home's CO2 emissions by 450 pounds a year, or roughly 9,000 pounds over 20 years.

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

The new Inflation Reduction Act includes provisions for a number of incentives that reward homeowners who make eco-friendly upgrades. Some of these incentives include tax credits and rebates for installing new electric appliances. You can find more details about these incentives 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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