2025 Solar Incentives Guide for Symmes, OH - Tax Credits & Rebates

What Solar Tax Credits, Incentives, and Rebates are Available in Symmes?

Source: https://www.dsireusa.org/

The phrase "solar incentives" generally refers to financial incentives designed to encourage the use of renewable energy by making installing and using solar panels more affordable. These incentives may include upfront discounts, cash back or monthly credits towards your utility bill. Some incentives are provided by the federal government, some by the state of Ohio and some by your utility company, county or municipality. You might qualify for any of the following types of solar incentives:

• Tax Credits: Tax credits are dollar-for-dollar reductions (not deductions) in the amount of tax that you owe the government.
• Solar Renewable Energy Certificate (SREC): In most cases, solar systems that produce more than a specified (usually small) amount of electricity will qualify for SRECs or other similar performance-based incentives. SRECs and performance-based incentives in general are typically provided 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.
• Rebates: Solar companies may help you claim a rebate, or partial refund after purchase, for your solar system. States or counties will also offer limited-time rebates at various times. Any rebates you receive will usually be deducted from the total price before tax credits are calculated.
• Tax Exemptions: Sales tax exemptions go into effect at the point of sale for your solar system. Property tax exemptions let you ignore the value added by your solar system when you calculate how much property tax you need to pay on your house.
• Net Metering: Make sure you speak to your Symmes utility company about signing a net metering contract. This allows you to get a credit towards your utility bill every month 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.

Federal Solar Incentives

When thinking about solar incentives, federal incentives are likely the first thing that comes to mind. The solar incentive that you're most likely to have heard of is the Federal Solar Investment Tax Credit (ITC), which provides a credit on your taxes equal to a specified percentage of your solar system's cost.

The ITC was originally for 30% of the total cost of solar system installation, although it has fluctuated slightly over the years between 26-30%. The percentage you qualify for will depend on when your solar system was installed. The total installation cost includes the panels themselves as well as the cost of accessories, labor and equipment. There is no maximum claim amount. The ITC applies to solar systems installed after January 1, 2006, on your primary or secondary residence. The residence must be owned by you and in the United States.

Talking to your local Symmes solar panel installation expert is the best way to learn more about how the ITC applies to your situation.

In August 2022, the Inflation Reduction Act laid out new provisions for the ITC, now dubbed the Clean Energy Credit. The Clean Energy Credit lasts until 2035. Any solar installation project that is completed between January 1, 2022, and December 31, 2032, may qualify for a 30% tax credit; this amount will decrease slightly on a yearly basis until the current program ends. Beginning in 2023, it will also be easier to obtain credits for energy storage systems under this new program.

Click here to learn more about the new Inflation Reduction Act. To best understand how the new Clean Energy Credit applies to you, speak with your local Symmes solar installers.

State & Local Solar Incentives

There are more than just federal solar incentives; tax credits, rebates and more are often offered at the state and local level. Certain incentives are offered for only a limited time, while others are ongoing. Your local solar incentives might come from the Ohio government, or from your specific county or municipality.

Next Steps for Installing Solar in Symmes

The variety of solar incentives available has helped tremendously increase the use of solar power nationwide over the past 15 years. You may receive solar incentives from the federal government, the Ohio government or from your local utility company. If you're ready to make the change to solar energy, reaching out to your local Symmes solar panel installation expert is an excellent place to start.