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

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

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 Wilmington solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 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 Wilmington?

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

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

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 term "solar incentives" covers a range of financial incentives implemented 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 monthly utility bill credits. Some incentives are offered by the federal government, while others are handled by the Ohio government or your utility company, county or municipality. You might qualify for any of the following types of solar incentives:

  • Net Metering: You may be able to sign a net metering contract with your Wilmington utility company. This agreement may apply to all or a percentage of the excess electricity that is generated by your solar panels. They will then deduct this value from your utility bill each month.
  • Tax Exemptions: These could come in the form of property tax exemptions, which can let you exclude the value of your solar system when paying taxes on your house. They may also include exemptions on sales tax at the time of purchase.
  • Rebates: A rebate is a partial refund given after you've purchased your solar panels. Rebates might be offered by your local utility company, your state or your county. The cash back that you get from the rebates is normally applied before tax credits are calculated.
  • Tax Credits: Tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government. (This is different from a tax deduction.)
  • Solar Renewable Energy Certificate (SREC): SRECs and other performance-based incentives may be available to you if you have a solar system that produces over a specified (generally small) amount of electricity. This category of incentives is typically handled at the state level. You can sell your SRECs to your utility company or other buyers, and the money you receive in return is usually considered part of your taxable income.

Federal Solar Incentives

Federal solar incentives are likely the first thing that comes to mind when you think about solar incentives. An incentive many people are probably familiar with is the Federal Solar Investment Tax Credit (ITC). This incentive is a tax credit for a predetermined percentage of the cost of your solar system.

The ITC applies towards solar systems installed after January 1, 2006 and under this program you can deduct from your taxes a percentage of the total cost of solar panels, labor, equipment and accessories. You can claim this credit for solar panels installed on a primary or secondary residence in the United States that you own. The original claim amount was 30% of the total cost, although the amount you can claim may range between 26-30%. There is no maximum claim amount.

Your local Wilmington solar panel installation expert can give you more information about the ITC and how it may apply to your situation.

In August 2022, the ITC (now called the Clean Energy Credit) was bolstered by the passage of the Inflation Reduction Act. The new Clean Energy Credit now runs until 2035. American homeowners are now eligible for a 30% credit for solar systems installed between 2022 and 2032. The credit will then be decreased by a few percentage points every year until its expiration. 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 understand how the new Clean Energy Credit will apply to you, reach out to your local Wilmington solar installation company.

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 may be available at a more local level. Certain incentives are offered for only a limited time, while others are ongoing. Your local incentives could come from the Ohio government, or from your specific county or municipality.

Next Steps for Installing Solar in Wilmington

There are a number of different solar incentives: those offered by local utility companies, those offered by the federal government and those offered by the Ohio government, to name a few. Solar energy utilization has increased tremendously in the last 15 years, thanks to these incentives. We recommend talking to your local Wilmington solar installation expert to learn more about these incentives and to be sure that you're getting the largest number possible for your solar system.

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 Wilmington, OH Solar Incentives FAQs

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

Typically, 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, could have additional qualifications. Speak with your local Wilmington solar installer to discover what incentives your project will qualify for.

How much can I save annually on my electric bill if I add solar panels to my Wilmington home?

On average, homeowners in Wilmington who install solar panels save around $606.79 per year, or around $11,528.98 over 20 years after making the switch.

What are the best solar panel installation companies near me?

To find the right solar panel installer for you, check out our guide to Wilmington's top solar panel companies.

If I change out my appliances for ones that can utilize solar energy, are there any incentives that I can claim?

With the passage of the new Inflation Reduction Act, there are several new financial incentives to encourage you to make eco-friendly improvements to your home. More details regarding these incentives, including information about incentives for purchasing new appliances, can be found here.

Can I claim incentives both towards the initial cost of solar panels, and later as reimbursement?

The order that incentives will be applied in could vary depending on which incentives you are eligible for but generally yes, you can receive multiple types of incentives for your solar project. Talk with your solar installer or a local tax professional to be sure you are claiming all possible incentives and applying them in the correct order.

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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