2023 Solar Incentives Guide for Heath, OH - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Heath.
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.
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By EcoWatch Local Advisors
Data Analysis: James Savino
Ranking Methodology: Karsten Neumeister
Updated March 14, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Heath?
Hamilton County - Home Improvement Program
Local Option - Special Energy Improvement Districts
Energy Conservation for Ohioans (ECO-Link) Program
Solar Renewable Energy Certificates Program (SRECs)
Federal Residential Renewable Energy Tax Credit
Solar incentives are intended to encourage homeowners to switch to renewable energy by offering incentives meant to lower the financial burden of solar panel installation and use. Various kinds of incentives, such as discounts, cash back or monthly utility bill credits, may be available to you. Certain incentives may be provided via the Ohio government, by your utility company or by county or municipality, while others are federal. Some solar incentives you might qualify for are:
- Rebates: Rebates, or partial refunds after a purchase, are usually given before any solar tax credits are calculated. Rebates can be given by your local utility company, by your state or by your county.
- Tax Exemptions: Tax exemptions may come in one of two forms. The first is sales tax exemption, applied at the time you purchase your solar panels. The second is property tax exemption, which allows you to ignore the added value of your solar system when paying property tax on your house.
- Tax Credits: Tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the government. (This is different from a tax deduction.)
- Net Metering: Make sure you speak to your Heath utility company about signing a net metering contract. This will allow you to receive 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.
- Solar Renewable Energy Certificate (SREC): SRECs can be sold to your utility company (or other buyers) for money that normally counts as part of your taxable income. Generally, a certain (small) threshold of energy production must be met before your solar system is eligible for SRECs or similar performance-based incentives. Incentives like these are typically handled by your state government.
Federal Solar Incentives
Federal incentives are the kind of incentives that you are most likely to have some familiarity with. You might have heard of the Federal Solar Investment Tax Credit, or ITC. This incentive is a tax credit that reduces your taxes by a certain percentage of the money you spend on your solar system.
The ITC applies towards solar systems installed after January 1, 2006 and allows you to deduct from your taxes a percentage of the total cost of solar panels, equipment, accessories and labor. This credit can apply towards a solar panel system installed on a primary or secondary residence in the United States that you own. The original amount you could claim was 30% of the total cost, although depending on when the project was completed, your credit may range from 26-30%. There is no maximum amount you can claim.
To better understand exactly how much money the ITC could save you, speak with your local Heath solar panel installation expert.
In August 2022, the ITC (now referred to as the Clean Energy Credit) was bolstered by the passage of the Inflation Reduction Act. For solar system installations that begin after January 1, 2022 and are completed by the end of 2032, homeowners can receive a credit for 30% of the total cost. The percentage will then decrease annually until the Clean Energy Credit ends in 2035. The program expansion also makes it easier to get credit for energy storage systems, beginning in 2023.
Click here to learn more about the new Inflation Reduction Act. To understand how the new Clean Energy Credit applies to you, speak with your local Heath solar installation expert.
State & Local Solar Incentives
There are often state solar incentives available in addition to federal ones. Rebates, tax credits and more might be available at a more local level. Certain incentives are offered for only a limited time, while others are ongoing. Your local incentives could come from your county or municipality, or from the Ohio government.
Next Steps for Installing Solar in Heath
There are many types of solar incentives: those provided by local utility companies, those provided by the Ohio government and those provided by the federal government, to name a few. Solar energy use has increased enormously in the last 15 years, partially thanks to these incentives. Contact your local solar panel installation expert today to discover more about the various programs and to save as much money as possible on solar panels for your Heath home.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
- 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 Heath, OH Solar Incentives FAQs
Can I get any financial incentives when I add solar panels to a vacation home, rental property or commercial property?
While we recommend speaking with your local solar installer and/or tax professional to better understand what solar incentives apply to you, many incentives will apply to a second home, so long as that home is in the United States and owned by you. There may be other incentives available specifically for commercial properties, depending on the specifics.
How can I learn if I qualify for different solar incentives?
In most cases, solar incentives apply to:
- a new solar system
- installed on property you own
- within the U.S.
- within the date range specified by a particular incentive.
Specific incentives, including ones handled by the Ohio government or by your county/municipality, could have additional qualifications. Talk to your local Heath solar installer to find out what incentives your project may qualify for.
I already have solar panels. Does my system qualify for any incentives?
If your solar system was installed after January 1, 2022, you may qualify for the recently increased 30% tax credit under the Inflation Reduction Act. If your system was installed between 2006 and 2021, you may qualify for a tax credit between 26% and 30%, depending on the year it was installed. Speaking with a representative from the company that installed your system, or any local Heath solar installer, can help you learn more about what incentives you might want to apply for.
If I switch my appliances out for ones that utilize solar energy, are there any incentives I can claim?
The new Inflation Reduction Act creates a variety of new financial incentives for making eco-friendly improvements to your home. More details about these incentives, including information about incentives for purchasing new appliances, can be found here.
Can I use solar and another type of renewable energy in combination to power my home?
Yes, you can utilize multiple types of renewable energy to power your home — for example, a combination of wind and solar. You can also use both renewable energy sources and a non-renewable backup source of energy. Make sure that you discuss your proposed plan with your local Heath solar panel installer, to get an understanding of what will be needed and what kinds of incentives you may or may not qualify for.
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.