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

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

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 Oxford solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated March 14, 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 Oxford?

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/


The phrase "solar incentives" refers to a wide range of financial incentives designed to make installing and using solar panels more affordable. This is done to encourage people to switch to renewable energy. Incentives could include things like discounts, cash back or credit on your utility bill each month. Some incentives are offered federally, while others are offered by the Ohio government or by your specific utility company, county or municipality. Some solar incentives you might qualify for are:

  • Tax Credits: Tax credits are dollar-for-dollar reductions (not deductions) in how much income tax you owe the federal government.
  • Solar Renewable Energy Certificate (SREC): SRECs are credits that can be sold to your utility company (or other buyers) for cash that typically becomes part of your taxable income. In most cases, you must meet a certain (small) threshold of energy production before your solar system qualifies for SRECs or similar performance-based incentives. SRECs and similar incentives are normally handled by your state government.
  • Net Metering: You can sign a net metering contract with your Oxford utility company that will apply to all or a percentage of the excess electricity your solar panels generate. Your utility company will then subtract this value from your monthly utility bill.
  • Rebates: Solar companies may help you claim a rebate, or partial refund of your purchase, for your solar system. Counties or states will also sometimes offer limited-time rebates. If you receive a rebate, that amount will usually come off your total price before any tax credits are calculated.
  • 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. This allows you to exclude the added value of your solar system when calculating property tax for your house.

Federal Solar Incentives

Federal solar incentives are probably the first thing that comes to mind when you think about solar incentives. You've likely heard of the Federal Solar Investment Tax Credit, or ITC. This incentive is a tax credit that reduces your taxes by a predetermined percentage of the money you spend on solar panels for your home.

The ITC initially applied to 30% of the cost of installing a solar system, although that number has fluctuated slightly over time between 26-30%. The installation date of your solar system will determine what percentage you qualify for. The total installation cost includes the panels themselves as well as the cost of equipment, labor and accessories. There is no maximum amount you can claim. The ITC can be applied to solar panels installed after January 1, 2006 on your primary or secondary residence. The residence must be in the United States and owned by you.

Wondering how the ITC applies to your specific situation? Get in touch with your local Oxford solar panel installation expert to get more information.

In August 2022, the Inflation Reduction Act made revisions to the ITC, now dubbed the Clean Energy Credit. The new Clean Energy Credit now runs until 2035. You can now receive a 30% credit for solar systems that began installation on or after January 1, 2022 and will be done by December 31, 2032. The total credit will then see a slight annual decrease until its expiration. The expansion to the program also makes claiming credit for energy storage systems easier than ever before, beginning in 2023.

More information about the new Inflation Reduction Act can be found here. The easiest way to fully understand how the new Clean Energy Credit will apply to you is to speak with your local Oxford solar panel installers directly.

State & Local Solar Incentives

In addition to those provided at the federal level, there are often also state solar incentives. Rebates, tax credits and more can be offered at a more local level. These incentives — which might be handled by your county or municipality, or by the state of Ohio — may be offered for only a limited time, or on an ongoing basis.

Next Steps for Installing Solar in Oxford

You can receive solar incentives from the Ohio government and the federal government, as well as from your local utility company. The increased availability of solar initiatives over the last 15 years has helped increase nationwide solar energy use enormously. Getting in touch with your local Oxford solar panel installation expert is the right first step towards making sure you get all the incentives you qualify for when you switch to solar energy.

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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Oxford, OH Solar Incentives FAQs

How do I learn if I qualify for specific solar incentives?

Broadly, solar incentives apply to:

  1. a new solar system
  2. installed on property that you own
  3. within the U.S.
  4. within the date range 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 Oxford solar installer to find out what incentives your project will qualify for.

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

Generally, homeowners in Oxford who install solar panels save approximately $770.11 per year, or approximately $14,632.16 over 20 years after making the switch.

What are the environmental benefits of switching to solar?

Solar energy is a renewable energy source — by switching where you get your energy, you help lessen the strain on our planet's resources. Solar panels can also reduce the CO2 emissions from your home by 450 pounds yearly, or around 9,000 pounds over 20 years.

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 your solar panels. Depending on precisely which incentives you are receiving, they may apply in a different order. Be sure to speak with your solar installer or a local tax professional to ensure that you are claiming incentives correctly and that you're getting the most money you can.

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

You can power your home with multiple types of renewable energy, or a combination of renewable and non-renewable energy. Be sure to talk through your ideas with your local Oxford solar installer. They can help you as you plan for your project and educate you on the various incentives that you might or might 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.

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