2024 Solar Incentives Guide for Monclova, OH - Tax Credits & Rebates

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

You'll learn about:

  • Local & State Solar Incentives
  • Federal Tax Credits (Updated for 2024 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 Monclova solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated June 24, 2024

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 Monclova?

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/


Solar incentives are intended to make renewable energy usage more affordable via financial incentives for individuals who install solar panels on their homes. You might qualify for various types of incentives, such as cash back, discounts 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. Some broad categories of solar incentives include:

  • Tax Credits: Unlike tax deductions, tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government.
  • Rebates: Solar rebates might be offered by your local utility company, or by your state or county. These rebates work as cash back that is applied after you pay for a solar system and before tax credits are calculated.
  • Tax Exemptions: These can come in the form of property tax exemptions, which let you ignore the value added by your solar panels when calculating the taxes you pay on your house. You could also look for exemptions on sales tax at the time of purchase.
  • Solar Renewable Energy Certificate (SREC): SRECs and similar performance-based incentives are usually handled at the state level. Once your solar panel system meets a certain threshold (generally 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 make from the sale is generally considered part of your taxable income.
  • Net Metering: Net metering becomes relevant after your solar system is up and running. If you've signed a net metering agreement with your Monclova utility company, the company will subtract the value of the excess energy your solar system produces from your monthly utility bill. In some locations, this credit is dollar-for-dollar, while in other places you might make back a percentage of the value.

Best Solar Financing

Blue Raven Solar

★★★★★
4.5
  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Social Impact

Palmetto Solar

★★★★★
4.0
  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

Best Technology

Tesla Energy

★★★★★
3.2
  • 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

Federal Solar Incentives

When someone says "solar incentives," you probably think of federal incentives first. The Federal Solar Investment Tax Credit, or ITC, is probably the best-known federal solar incentive. The ITC provides you with a tax credit for a set percentage of your solar system's cost.

The ITC can be applied to solar panels installed on your primary or secondary residence in the United States. The solar system must have been installed on a property you own after January 1, 2006, for you to claim the credit. The ITC initially covered 30% of all installation costs (panels, equipment, accessories and labor), although this 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 claim amount.

Have questions about how the ITC applies to your specific situation? Reach out to your local Monclova solar panel installer to get more information.

The Inflation Reduction Act, passed in August 2022, expanded and extended the ITC (as well as retitling it the Clean Energy Credit). Homeowners can now receive a credit of 30% of the total costs of solar system installation for projects started after January 1, 2022, and completed before the end of 2032. The credit percentage will then begin to decrease yearly until the Clean Energy Credit ends in 2035. Starting in 2023, the expansion to the program will also make credits for energy storage systems even easier to claim.

More information about the new Inflation Reduction Act can be found here. Your local Monclova solar panel installation experts can answer your questions and explain how the new Clean Energy Credit may apply to you.

State & Local Solar Incentives

Rebates, tax credits and more can be claimed at multiple levels. Along with federal solar incentives, there are often state and local ones as well. These incentives might be offered by your county or municipality, or by the Ohio government. Some are available for a limited time, while others are ongoing.

Next Steps for Installing Solar in Monclova

There are many kinds of solar incentives: those given by local utility companies, those offered by the federal government and those offered by the Ohio government, to name a few. Solar energy use has grown tremendously in the last 15 years, partially thanks to these incentives. Your local Monclova solar panel installation expert can help you learn more about which incentives you should apply for, and get you feeling good about making the change to renewable energy today.

EcoWatch's Monclova, OH Solar Incentives FAQs

How can I find out if I qualify for different solar incentives?

It's a good idea to talk to your local Monclova solar installer for a better understanding of which incentives your project will qualify for. Typically, solar incentives apply to new solar panel systems installed on a property you own (in the U.S.) within a specified date range. Some incentives, such as those given by the state of Ohio, might have other requirements.

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

When you add solar panels to your Monclova home, you can expect to save around $735.11 per year, or around $13,967.13 over the next 20 years.

What are some environmental benefits of installing solar panels on my house?

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

How long until the federal solar tax credit ends?

The Clean Energy Credit (previously referred to as the federal solar tax credit, or the ITC), is slated to end on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.

Can I apply 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 your solar panels. Depending on precisely which incentives you are applying 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 the correct incentives and getting the most money you can.

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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