Expedite Solar Panel ROI in Ohio with Net Metering
2024 Ohio Solar Incentives & Rebates
Solar is exploding in Ohio, largely thanks to state and federal solar incentives.
Below we list some key incentives to take advantage.
Fill out this form for a custom home solar quote in Ohio and book your 1 on 1 solar education workshop.
Calculate what system size you need, and how quickly it will pay for itself after rebates.
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SOLAR NET METERING IN OHIO
Net metering policy was mandated by State of Ohio that all electric utilities offer some form of net metering to their customers. This policy is key for expediting return on investment for solar, as it offsets needing to purchase electricity, and can instead rely on credits your system produces year around.
When your solar system is sized correctly, your solar panels will generate an excess of electricity beyond your immediate consumption requirements. Ohio's net metering regulations offer you the opportunity to trade this surplus energy back to the grid, earning credits that offset your utility bill. In instances where your energy demand surpasses your solar panel output, for example the summer, you can utilize these earned credits rather than purchasing electricity directly from your utility provider, say in the winter when your system is producing less.
FEDERAL TAX CREDIT (ITC)
As a result of the Inflation Reduction Act of 2022, the 30% Federal Solar Tax Credit was re-instated and allows homeowners and businesses to write off 30% of their solar system's cost off their taxes. In some instances this credit can also be applied to a solar loan allowing for a 30% discount off the solar system price. Additionally, for commercial applications, take advantage of accelerated depreciation, facilitating the transition to eco-friendly, renewable energy sources.
Following our established operating procedure, we strongly recommend that each customer consults with their tax professional for personalized guidance.
Following our established operating procedure, we strongly recommend that each customer consults with their tax professional for personalized guidance.
SOLAR RENEWABLE ENERGY CREDITS (SRECs)
SRECs aka Solar Renewable Energy Credits, allow solar customers to accumulate credits based on every kilowatt-hour (kWh) of solar energy your system generates. Annually, there's a potential income stream by selling these solar credits in the SREC market.
Earn one SREC for each megawatt-hour (or 1,000 kWh) of electricity generated by your solar panels, providing an opportunity to generate additional income. Stay updated on the latest market prices to maximize your benefits. As of March 2024, they are listed at $3 per 1,000 kWh.
Earn one SREC for each megawatt-hour (or 1,000 kWh) of electricity generated by your solar panels, providing an opportunity to generate additional income. Stay updated on the latest market prices to maximize your benefits. As of March 2024, they are listed at $3 per 1,000 kWh.
STATE-SPONSORED INTEREST RATE REDUCTIONS
Ohio has introduced the Energy Conservation for Ohioans Program, designed to lower the cost of financing your solar energy system. By successfully applying for the program, you can qualify for a reduction of up to 3 percent in interest rates on your bank loans for a duration of up to seven years. Fill out our form today to learn how we can assist you in the application process!
Local Organization Helping Ohio Homeowners Save on Their Electric Bill
We understand you want peace of mind. At Solar Resource Ohio, we've vetted local solar installers that provide exceptional customer service and system results. You’ll get it with full, friendly support and quality control beginning with design and implementation to post-installation and maintenance. We have invested heavily in our turnkey service offering, so you can be fully confident in the reliability and quality of our services.
Why Get Solar Panels in Cincinnati and Surrounding Ohio Areas?
Take Advantage of Net Metering and Save Thousands On Your Electric Bill
Own Your Own Electricity with the Sun, Decrease Reliance on Fossil Fuel, Take Advantage of Incentives
Reduce Your Carbon Footprint and Help Promote Renewable Energy Adoption in Ohio
Hedge Against Rising Electricity Costs and Take Advantage of Federal & State Solar Incentives While They Last
Take Advantage of Ohio's Net Metering
Net metering allows you to send excess electricity you generate from your solar panels to the distribution system for a credit toward your energy costs. In essence, it’s a “trade” of electricity you supply against electricity you consume.
Net Metering programs offered by OH electric utiltiles like Duke gives homeowners the power to better manage energy costs. When you’re producing more renewable electricity than you can use, utilities will take the surplus supply back to the grid. In return, the utility will give you a credit on your bill to help pay for those times when you’re not generating enough power and drawing from the grid helping expedite the ROI for your solar system investment.
Did You Know?
❗️As an Ohio home owner your electricity bill has increased by over 30% in the last decade. While we get less sun in the winter months, we can make up for it in the summer by producing excess electricity than we use, and use those net metering credits to pay our electric bills in the winter.
❗️This rate will continue to increase, resulting in your electricity bill to double in the next 10 years.
❗️Just like living in a home that is paid off, it's a free place to live. Owing solar panels is an asset that will provide free electricity. You can take advantage of federal tax credits and utility rebates pay off the solar panels faster.
❗️This rate will continue to increase, resulting in your electricity bill to double in the next 10 years.
❗️Just like living in a home that is paid off, it's a free place to live. Owing solar panels is an asset that will provide free electricity. You can take advantage of federal tax credits and utility rebates pay off the solar panels faster.
OWN Your Electricity to Save BIG
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AEP Ohio Electric Bill Prices Spike by Nearly 30%: AEP customers will see a 28% price increase on monthly bills, with a new price of a little less than 12 cents per kilowatt-hour. These price hikes took effect in June 2023, and AEP notes that these increases will be in effect through May 2024.
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Offset Your Energy Bill: Net Metering is mandated by the state to be offered by utilities. In summary this expedites return on investment for solar. This allows homeowners use solar energy to power your home while offsetting your electricity bill throughout the year.
- Receive Electricity Credits : If the amount of electricity produced exceeds the amount required to power your home, you can give the remaining amount back to your local provider in exchange for electricity credits that can be deducted from future usage.
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This Graph shows just how high Electricity Rates with Duke, AEP have risen in the past 3 years. Worsening climate situations combined with compelling incentives to go solar make it a no brainer to get a quote and see if the numbers make sense for your home.
Why Investigate if Solar is Right For You?
Trust
Homeowners trust us knowing we provide proof of results from fellow helped go solar. Our partners have over 800 five star reviews on Google! They provide lifetime support our solar panels customers long after their system is commissioned.
Full Turn Key Solution
Our painters take care of everything to do with your solar. We stock the product, supply, manage, install, & inspect to ensure you are getting the best service possible.
Quality Assurance
Our partner's years of experience and thousands of residential solar systems sold, we were able to create a strict quality control program that assures every installation is done to the highest standards.
Ohio Locals
Our company's Ohio partner was born and raised in Cincinnati. Our staff understand what it takes to get the best producing solar system at the best price our customers maximize their savings.
