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

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

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 Hamilton 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 Hamilton?

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

Dayton Power and Light - Residential Energy Efficiency Rebate Program

Incentive Type:
Rebate Program
Heating & Cooling
Air Conditioning: $100 - $150, varies by efficiency and equipment application
Air Source Heat Pump: $150 - $250, varies by efficiency and equipment application
Geothermal Heat Pump: $800 - $1,000, varies by efficiency and equipment application
Heat Pump Water Heaters: $400
Airlfow/Climate Control
WiFi Thermostat: $20-$30
Smart Thermostat: $75
Air Insulation & Sealing: Up to $650, must be through approved contractors

Appliance Recycling: $50

Butler Rural Electric Cooperative - Energy Efficiency Improvement Loan Program

Incentive Type:
Loan Program
$25,000

Butler Rural Electric Cooperative - Residential Rebate Program

Incentive Type:
Rebate Program
Geothermal Systems (New Installations): $1,200
Geothermal Systems (Replacement Systems): $600
Dual Fuel Heating Systems (New Installations): $600
Dual Fuel Heating Systems (Replacements): $300
Air Source Heat Pump Systems (New and Replacements): $300
Insulation: maximum of $800 or 50% of project cost (whichever is lower)
Air Sealing: maximum of $400 or 50% of project cost (whichever is lower)

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 for those who install solar panels on their homes. Different types of incentives, like discounts, cash back or monthly utility bill credits, might be available to you. Some incentives may be handled by the Ohio government, by your utility company or by county or municipality, while other incentives are federal. Types of solar incentives might include:

  • Tax Credits: Tax credits reduce, dollar-for-dollar, how much income tax you owe the federal government. These differ from tax deductions.
  • Net Metering: Net metering becomes relevant once your solar system is up and running. If you have in place a net metering agreement with your Hamilton utility company, the company will subtract the value of the excess energy your solar system produces from your monthly utility bill. In some places, this is a dollar-for-dollar credit, while in other areas you may make back a percentage of the value.
  • Tax Exemptions: Tax exemptions may come in one of two forms. The first is sales tax exemption, applied when you purchase solar panels. The second is property tax exemption, which allows you to exclude the added value of your solar system when paying property tax on your home.
  • Rebates: A solar rebate is a partial refund credited to your account after you've paid for your solar panels. These may be offered by your local utility company, your state or your county. The rebates are usually applied before tax credits are calculated.
  • Solar Renewable Energy Certificate (SREC): Typically, solar systems that produce more than a specified (generally small) amount of electricity qualify for SRECs or other similar performance-based incentives. SRECs and similar incentives are typically given at the state level. You can sell SRECs to your utility company or another buyer, and generally the money you make is normally considered part of your taxable income.

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

When you hear the term "solar incentives," federal incentives may be the first thing that comes to mind. The solar incentive that you're most likely to have heard of is the Federal Solar Investment Tax Credit (ITC), which gives you a credit on your taxes equal to a certain percentage of the cost of your solar system.

The ITC applies to the value of solar panels installed on your primary or secondary residence in the United States. The solar panels have to have been installed after January 1, 2006 on a property owned by you for you to be eligible for the credit. The ITC initially covered 30% of all system installation costs (panels, equipment, labor and accessories), although the amount has fluctuated over time between 26-30%. The amount you qualify for will depend on when your solar system was installed. There is no cap on the amount you can claim.

To better understand exactly how much the ITC could save you, contact your local Hamilton solar panel installer.

In August 2022, the ITC (now called the Clean Energy Credit) was expanded and extended by the passing 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. Starting in 2023, the expansion to the program will also make claiming credit for energy storage systems easier than ever before.

More information about the new Inflation Reduction Act can be found here. To best understand how the new Clean Energy Credit applies to you, speak with your local Hamilton solar installation expert.

State & Local Solar Incentives

Some solar incentives are often also provided by state and local governments. Similar to federal incentives, these may include rebates, tax credits and more. Incentives might be handled by your county or municipality, or by the state of Ohio. Some incentives are available for only a limited time, while others are ongoing.

Next Steps for Installing Solar in Hamilton

You can apply for and receive solar incentives from the federal government and the Ohio government, as well as from your local utility company. This increase in availability of solar initiatives over the last 15 years has helped greatly increase nationwide adoption of solar energy. When you're prepared to make the switch to solar energy, reaching out to your local Hamilton solar panel installation expert is a great first step.

EcoWatch's Hamilton, OH Solar Incentives FAQs

What if I add solar panels to a vacation home, rental property or commercial property? Can I still qualify for incentives?

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

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

It's best to speak with your local Hamilton solar installer to get an understanding of which incentives your project may qualify for. Typically, solar incentives apply to new solar panel systems installed on property you own (in the U.S.) between the dates specified by the incentive. Some incentives, such as those given by the state of Ohio, may have additional requirements.

What are the highest-rated solar panel installation companies near me?

To find a top-rated solar panel installer, check out our guide to Hamilton's best solar panel companies.

I want to change out my appliances for ones that are more energy-efficient. Are there any benefits I can apply for?

The recently passed Inflation Reduction Act introduces multiple incentives designed to reward homeowners for making 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.

Can I qualify for incentives both towards the up-front cost of solar panels, and later as reimbursement?

Yes, you can receive both tax credits and rebates towards the cost of solar panels. Depending on precisely which incentives you are eligible for, they may apply in a different order. Make sure that you speak with your solar installer or a local tax professional to ensure that you are claiming incentives correctly and getting the most money possible.

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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