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

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

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 Twinsburg 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 Twinsburg?

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. Various types of incentives, like discounts, cash back or monthly utility bill credits, might be available to you. Some incentives may be handled by the state of Ohio, by your utility company or by county or municipality, while others are federal. Types of solar incentives might include:

  • Net Metering: You can sign a net metering contract with your Twinsburg utility company, that may apply to all or a percentage of the excess electricity that is generated by your solar panels. Your utility company will then subtract this value from your utility bill each month.
  • Tax Exemptions: Sales tax exemptions are effective at the time of purchase for your solar system. Property tax exemptions let you exclude the added value of your solar system when calculating the amount of property tax you need to pay.
  • Rebates: Some solar companies will help you claim a rebate, or partial refund of your purchase, for your solar system. Counties or states will also offer limited-time rebates at various times. If you receive a rebate, that amount will usually be deducted from the total price before tax credits are calculated.
  • Tax Credits: Tax credits decrease, dollar-for-dollar, how much income tax you owe the federal government. These are different from tax deductions.
  • Solar Renewable Energy Certificate (SREC): SRECs and other similar performance-based incentives are generally handled at the state level. Once your solar system meets a certain threshold (normally a small amount of energy production), you can receive SRECs that you can then sell to your utility company or other buyers. The money you make from the sale is usually considered part of your taxable income.

Best Solar Financing

Blue Raven Solar

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

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 you think about solar incentives, you probably think of federal incentives first. You've likely heard of the Federal Solar Investment Tax Credit, or ITC. This is a tax credit equal to a specified percentage of the money you spend on your solar system.

The ITC originally covered 30% of the total cost of installing a solar system, and has fluctuated slightly over the last few 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 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.

Have questions about how the ITC applies to your specific situation? Get in touch with your local Twinsburg solar panel installation expert to get more information.

The ITC was both renewed and expanded by the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. The Clean Energy Credit has increased the current credit up to 30% for solar installation projects started after January 1, 2022, and completed by the end of 2032. After 2032, the percentage will see a slight decrease annually until the program expires in 2035. The program expansion 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 might apply to you, get in touch with your local Twinsburg solar installation expert.

State & Local Solar Incentives

In addition to federal solar incentives, there are often also state ones. Rebates, tax credits and more might be available at a more local level. Incentives might be given by your county or municipality, or by the state of Ohio. Some incentives might only be available for a limited time, while others are ongoing.

Next Steps for Installing Solar in Twinsburg

There are many kinds of solar incentives: those provided by the federal government, those given by the Ohio government and those given by local utility companies, to name a few. Solar energy use has increased enormously in the last 15 years, partially due to these incentives. It is a good idea to talk to your local Twinsburg solar installation company to learn more about these incentives and to make sure that you're getting all the money you can for your solar system.

EcoWatch's Twinsburg, OH Solar Incentives FAQs

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

Broadly, solar incentives apply to:

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

Specific incentives, including ones handled by the Ohio government or by your county/municipality, might have additional qualifications. Talk to your local Twinsburg solar installer to find out what incentives your project may qualify for.

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

Once you add solar panels to your house in Twinsburg, you can anticipate savings of about $684.79 per year, or approximately $13,010.96 over 20 years.

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

Solar energy is renewable — by switching where you get your energy, you can help lessen the strain on our planet's resources. You can also reduce the CO2 emissions from your home by 400 pounds yearly, or roughly 8,000 pounds over 20 years.

Can I receive 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 solar panels. Depending on precisely which incentives you are receiving, they may apply in a different order. Make sure that you talk to your solar installer or a local tax professional to ensure that you are claiming the correct incentives and that you're getting the most money possible.

Can I use a combination of multiple types of renewable energy to power my home?

You can use multiple types of renewable energy, or a combination of renewable and non-renewable energy, to power your home. Be sure to discuss your plan with your local Twinsburg solar installation expert. They can help you plan 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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