2023 Solar Incentives Guide for Middleburg Heights, OH - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Middleburg Heights.
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
Why you can trust EcoWatch
What Solar Tax Credits, Incentives, and Rebates are Available in Middleburg Heights?
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
The term "solar incentives" includes a wide range of financial incentives put in place to make installing and using solar panels more affordable. This is done to encourage people to switch to renewable energy. You might be eligible for several types of incentives, including discounts, cash back or monthly utility bill credits, depending on your situation. Certain incentives come from your specific utility company, county or municipality, some from the state of Ohio and others from the federal government. Types of solar incentives might include:
- Tax Credits: Tax credits decrease, dollar-for-dollar, the total amount of tax you owe the federal government. Tax credits are different from tax deductions.
- Tax Exemptions: Sales tax exemptions are applied at the time of purchase for your solar panels. Property tax exemptions allow you to exclude the added value of your solar system when calculating how much property tax you need to pay on your home.
- Rebates: Rebates, or cash back after a purchase, are normally given before any solar tax credits are calculated. Solar rebates might be offered by your local utility company, by your state or by your county.
- Net Metering: You can sign a net metering agreement with your Middleburg Heights utility company, that may apply to all or a percentage of the excess electricity your solar panels generate. Your utility company will then deduct this value from your utility bill each month.
- Solar Renewable Energy Certificate (SREC): Generally, solar systems that produce over a specific (normally small) amount of electricity can qualify for SRECs or similar performance-based incentives. SRECs and performance-based incentives in general are typically offered at the state level. You can sell SRECs to your utility company or another buyer, and this is usually considered part of your taxable income.
Federal Solar Incentives
When you hear the term "solar incentives," federal incentives might be the first thing that comes to mind. One of the incentives many people are likely to be 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 applies to the total cost of solar panel installation, including the panels themselves as well as accessories, labor and equipment. You can claim this credit for panels installed after January 1, 2006 on a primary or secondary residence that you own, as long as it is located in the United States. The tax credit ranges from 26-30% of total costs depending on when your project was completed. There is no maximum amount you can claim.
Talking to your local Middleburg Heights solar panel installer is the best way to learn more about how the ITC may apply to your situation.
The ITC has been renewed and expanded following the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. Homeowners are now eligible for a credit equal to 30% of the total solar system installation costs for projects started after January 1, 2022 and completed before the end of 2032. The percentage will then decrease yearly until the Clean Energy Credit expires in 2035. The expansion to the program also makes it easier to get credit for energy storage systems, beginning in 2023.
More information about the new Inflation Reduction Act can be found here. To fully understand how the new Clean Energy Credit will apply to you, reach out to your local Middleburg Heights solar installers.
State & Local Solar Incentives
Not all solar incentives are federal; rebates, tax credits and more are often offered at the local or state level. Incentives might be handled by the state of Ohio, or by your county or municipality. Certain incentives might only be available for a limited time, while others are ongoing.
Next Steps for Installing Solar in Middleburg Heights
There are many kinds 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. The use of solar energy has increased enormously in the last 15 years, thanks to these incentives. Your local Middleburg Heights solar panel installation company can provide you with more details about which incentives you might qualify for, and get you feeling good about making the change to renewable energy today.
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 Middleburg Heights, OH Solar Incentives FAQs
How can I find out if I qualify for solar incentives?
In most cases, solar incentives apply to:
- a new solar system
- installed on property that you own
- within the U.S.
- 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. Get in touch with your local Middleburg Heights solar installer to find out what incentives your project will qualify for.
My home already has solar panels installed. Are there any incentives that I qualify for?
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 you had your system installed between 2006 and 2021, you may qualify for a tax credit between 26% and 30%, depending on the date of installation. Reaching out to the company that installed your system, or any local Middleburg Heights solar installer, can help you learn more about what incentives you can apply for.
Who installs solar panels near me?
To find the best solar panel installer in your area, check out our guide to Middleburg Heights' best solar panel companies.
What are some of the environmental benefits of switching to solar energy?
You can reduce your carbon footprint by 400 pounds of CO2 annually when you switch to solar panels. This adds up to approximately 8,000 pounds in 20 years. Solar is also a renewable energy source, which means that making the switch reduces the drain on our planet's resources.
If I switch my appliances out for ones that can use solar energy, are there incentives I can claim?
The new Inflation Reduction Act includes provisions for multiple 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.