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

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

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 Macedonia 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

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 Macedonia?

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

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" generally refers to financial incentives designed to encourage people to use renewable energy by making the installation and use of solar panels more affordable. Incentives may include things like discounts, cash back or credit towards your monthly utility bill. Some incentives are handled federally, while others are offered by the state of Ohio or by your utility company, county or municipality. You might qualify for any of the following types of solar incentives:

  • Tax Credits: Tax credits lower, dollar-for-dollar, the amount of income tax you owe the federal government. These differ from tax deductions.
  • Solar Renewable Energy Certificate (SREC): SRECs and similar other performance-based incentives may be available to you if the solar system on your home produces over a specified (usually small) amount of electricity. Performance-based incentives are generally handled at the state level. You can sell any SRECs you have to your utility company or other buyers, and the money you receive in return is normally considered part of your taxable income.
  • Tax Exemptions: Your solar panel system might qualify for exemptions on both sales and property tax. Sales tax exemptions are effective at the time of purchase. Property tax exemptions let you ignore the value added by your solar panels when you are calculating property taxes on your home.
  • Rebates: Your solar installer might help you claim a rebate, or partial refund of your purchase, for your solar panels. Counties or states will also offer limited-time rebates at various times. Any rebates you receive will usually come off your total price before tax credits are calculated.
  • Net Metering: Don't forget to talk with your Macedonia utility company about signing a net metering agreement. This will allow you to get a credit towards your monthly utility bill for the value of excess energy generated by your solar panels. You could receive either a dollar-for-dollar credit or a percentage of the value.

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

Federal solar incentives are likely to be the first thing that comes to mind when you think about solar incentives. An incentive that most people are likely familiar with is the Federal Solar Investment Tax Credit (ITC). This incentive is a tax credit for a certain percentage of the cost of your solar system.

The ITC is applied to the total cost of solar system installation, including the panels themselves as well as accessories, labor and equipment. This credit can be claimed for panels installed after January 1, 2006 on a primary or secondary residence that you own and that is located in the United States. From its original value of 30% of the total cost, the credit has fluctuated slightly between 26-30%, and you may qualify for varying percentages depending on when your project was completed. There is no maximum amount you can claim.

To more fully understand how the ITC will apply to you, call your local Macedonia solar panel installation expert and ask for more information.

In August 2022, the ITC (now titled the Clean Energy Credit) was expanded and extended 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 expires in 2035. Beginning in 2023, it will also be easier to claim credits for energy storage systems under this new program.

Click here to learn more about the new Inflation Reduction Act. Your local Macedonia solar panel installation expert is the best person to answer your questions regarding the new Clean Energy Credit and how it applies to you.

State & Local Solar Incentives

Tax credits, rebates and more might be provided at multiple levels. Along with federal solar incentives, there are often state and local ones, too. These solar incentives — which may be handled by your county or municipality, or by the state of Ohio — could be offered on an ongoing basis, or for only a limited time.

Next Steps for Installing Solar in Macedonia

The expanding number of solar incentives available has helped tremendously increase the nationwide adoption of solar energy over the last 15 years. You can get solar incentives from the Ohio government, the federal government or your local utility company. It is a good idea to talk to your local Macedonia solar installation expert for more information about these incentives and to ensure that you're getting all of the money you can for your solar panels.

EcoWatch's Macedonia, OH Solar Incentives FAQs

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

Typically, solar incentives apply to:

  1. a new solar panel system
  2. installed on property that you own
  3. within the U.S.
  4. between the dates specified by a particular incentive.

Specific incentives, including those given out by the Ohio government or by your county/municipality, sometimes have additional qualifications. Speak with your local Macedonia solar installer to find out what incentives your project will qualify for.

How much can I save on my electric bill annually if I install solar panels on my Macedonia home?

Generally, Macedonia homeowners who install solar panels save around $711.44 per year, or around $13,517.42 over 20 years after they make the switch.

How long until the federal solar tax credit ends?

The federal solar tax credit, formerly called the ITC and now titled the Clean Energy Credit, is scheduled to end 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 receive incentives both towards the initial cost of solar panels, and later as reimbursement?

The order that incentives will be applied in might vary depending on which incentives you receive but generally yes, you can claim multiple types of incentives for your solar project. Check with your solar installer or a local tax professional to make sure you are claiming all of the incentives you qualify for and applying them in the correct order.

Can I use both solar and another type of renewable energy to power my home?

Yes, you can employ multiple types of renewable energy to power your home — for example, a combination of solar and geothermal. You can also combine renewable energy generation with a backup source of non-renewable energy. Be sure to discuss the details of your plan with your local Macedonia solar installation expert, to make sure you know what you'll need and what types of incentives you will or won't 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.

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