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What solar incentives are available in Ohio?
As a homeowner in Ohio, you have access to several different tax incentives that make solar panels more affordable. Solar incentives are available at both the federal and state levels to help you save thousands on your investment in solar energy.
Solar Calculator is here to help you take the next step in your transition to renewable energy. Below, we’ll discuss some of the different ways you can make solar more affordable.
Federal solar incentives
As part of the Inflation Reduction Act of 2022, congress passed several clean energy provisions to reduce energy costs. Among those provisions was an extension and upgrade of the Federal Investment Tax Credit (ITC).
Federal Investment Tax Credit
The Federal ITC allows you to claim 30% of your total equipment and installation costs on your federal taxes. There is no minimum or maximum amount you can claim and it includes equipment, installation, permitting, and even battery storage.
The ITC will remain at 30% until December 31, 2032. After that it will be reduced to 26% until December 31, 2033, then to 22% the following year. The ITC is currently set to disappear in 2035 unless it is renewed.
Who is eligible for the Federal ITC?
Most homeowners will qualify for the Federal ITC, but not all. You must meet the following criteria to claim your 30% tax credit:
The Federal ITC will also cover the following expenses:
Homeowners save around $10,000 on average with the Federal ITC. But that number can be higher or lower depending on your total expenses.
How to claim the Federal ITC
Claiming your Federal ITC couldn’t be easier. All you have to do is fill out IRS form 5695 and submit it with your tax return. You can consult with a tax professional for more assistance.
Local solar incentives
Who’s eligible : Commercial, Industrial, Local Government, Nonprofit, Residential, Cooperative Utilities, Schools, State Government, Agricultural, Multifamily Residential, Low Income Residential, Institutional
How to apply : Compliance goals were revised by House Bill 6 in 2019 that reduced the renewable portfolio requirements of all electric distribution utilities in the state. House Bill 6 eliminated the solar carve-out in Ohio's Alternative Energy Portfolio Standard (AEPS). House Bill 6 also created a Renewable Generation Fund to provide fixed payments for energy generated by certain renewable facilities; this was changed to only solar by House Bill 128 in 2021. Solar facilities that obtained a certificate for construction of a major utility facility before June 1, 2019 are eligible for payments of $9.00 per SREC. Payments will end in 2028. Generation from solar facilities that receive SREC payments from Ohio's Solar Generation Fund is subtracted from utilities' requirements under the AEPS. Section 4928.642 is the revised section and reads as follows. Beginning with compliance year 2020, the public utilities commission shall, in accordance with this section, reduce the number of kilowatt hours required for compliance with section 4928.64 of the Revised Code for all electric distribution utilities and all electric services companies in this state. The commission shall determine each utility's and each company's reduction by taking the total amount of kilowatt hours produced, if any, by all qualifying solar resources, as defined in section 3706.40 of the Revised Code, during the preceding compliance year, allocating that total among all electric distribution utilities and electric services companies in proportion to their baselines for the subject compliance year, and subtracting that allocated amount from the utility's or company's compliance amount as otherwise determined under section 4928.64 of the Revised Code. Solar Renewable Energy Certificates (SRECs) represent the renewable attributes of solar generation, bundled in minimum denominations of one megawatt-hour (MWh) of production. The legislation creating Ohio's AEPS program, (S.B. 221), mandates the creation of SRECs and Solar Alternative Compliance Payments (SACPs). To be in complaince with AEPS, Ohio retail electricity suppliers must either purchase or generate SRECs OR pay a Solar Alternative Compliance Payment (SACP) for any shortfalls in SREC purchases. SRECs have a lifetime of five years following their initial acquisition. Generators must register with the Public Utilities Commission of Ohio (PUCO) to become a certified facility, eligible to generate SRECs for compliance under Ohio's Alternative Energy Resource Standard (AERS). Once PUCO certification is received, the generator must also register with an attribute tracking system (such as PJM-GATS or M-RETS). To If utilities cannot acquire SRECs, then they are required to pay a Solar Alternative Compliance Payment (SACP) to remain in compliance with Ohio's Alternative Energy Portfolio Standard. SACP prices were initially set at $450/MWh by SB 221 in 2009 and were on schedule to drop by $50 every two years until a $50/MWh minimum was met in 2024. In 2014, SB 310 froze the SACP at $300/MWh for 2014, 2015, and 2016, and stipulated that in 2017 SACPs resume the scheduled fall by $50 every two years to a minimum of $50/MWh by 2025. Compliance payments are deposited into the Ohio Advanced Energy Fund, which provides financial support to renewable energy and energy efficiency projects within the state. Utilities may not pass along the cost of compliance payments to their customers. PUCO may grant a force majeure determination, thereby relieving the utilities of their obligation to pay SACP, if utilities are able to prove they were unable to procure enough SRECs to satisfy the requirements due to conditions beyond their control. Historically, utilities have generally been able into compliance without paying the ACP. Interested system owners must reserve a case number on the web site above. For applications received after December 31, 2012, credit will only be given for generation that occurred after the facility's application date.
Who’s eligible : Commercial, Investor-Owned Utility, Municipal Utilities, Cooperative Utilities
How to apply : The Qualified Energy Project Tax Exemption This program provides owners (or lessees) of renewable energy projects with an exemption from the public utility tangible personal property tax. A person may apply to the director of development for certification of an energy project as a qualified energy project on or before December 31, 2024, for an energy project using renewable energy resources For Whom In order to qualify, the owner or lessee subject to sale leaseback transaction must apply to the Ohio Department of Development on or before December 31, 2024 for renewable energy projects. Large projects (above 20 mega-watts) require approval from each Board of County Commissioners in which the project is located. In addition, these large projects require agreements to train and equip local emergency responders, as well as repair roadway infrastructure following the construction of the project. Small projects (less than 250 kilowatts) are exempt as a matter of law pursuant to Ohio Revised Code Section 5709.53 Benefits If the project meets the requirements of the exemption, then the Director of Development will certify the project as a "Qualify Energy Project." Qualified Energy Projects will remain exempt from taxation so long as the project is completed within the statutory deadlines, meets the "Ohio Jobs Requirement," and continues to meet several ongoing obligations including providing Development with project information on an annual basis. How to Apply Potential applicants should review the revised rules to determine whether they should file an application to become a Qualified Energy Project. Check the Revised Ohio Code and the Ohio Administrative Code . Payment in Lieu In lieu of taxes, the following payments must be made to the county where the renewable energy facility is located: Solar energy facilities: $7,000 per megawatt (MW) All other qualified facilities employing at least 75% Ohio-based employees during construction: $6,000/MW All other qualified facilities employing at least 60% Ohio-based employees during construction: $7,000/MW All other qualified facilities employing at least 50% Ohio-based employees during construction: $8,000/MW The property tax exemption must be approved by local county commissioners if the project is 5 MW or larger. Local county commissioners are allowed to require an additional payment as long as the overall payment does not exceed $9,000 per MW. In addition, the law requires that the renewable energy facility 1) meets certain jobs-creation criteria, 2) provides for road repairs (for projects 5 MW or more), 3) provides training and equipment to local first responders (for projects 5 MW or more), 4) establishes partnerships with universities (for projects 2 MW or more), and 5) makes offers to sell the renewable energy credits to Ohio utilities seeking to buy them. Visit the ODSA web site for additional information, implementation documents, program documents and the application. *S.B. 232 permanently exempted renewable energy facilities up to and including 250 kW from the public utility tangible personal property tax. See DSIRE entry Qualified Energy Property Tax Exemption for Projects 250 kW or Less for additional details.
Who’s eligible : Commercial, Investor-Owned Utility, Municipal Utilities, Cooperative Utilities
How to apply : Note: According to the Ohio Development Services Agency website, the owner or lessee subject to the sale-leaseback transaction must apply to Development Services Agency on or before December 31, 2024, to qualify for this tax credit. Ohio's Renewable and Advanced Energy Project Property Tax Exemption, enacted with the passage of Ohio S.B. 232 in the summer of 2010, exempts qualified energy projects in Ohio from public utility tangible personal property taxes and real property taxes. Per Ohio Revision Code 5709.53, qualified energy systems of 250 kilowatts (kW) or less will not be subject to payment in lieu of property tax. For qualified energy projects larger than 250 kW, see the DSIRE entry Qualified Energy Property Tax Exemption for Projects over 250 kW (Payment in Lieu) for additional details. Energy facilities with a nameplate capacity of 250 kilowatts (kW) or less (AC) are permanently exempt from public utility tangible personal property tax and real property taxes. Energy facilities are defined as interconnected solar, wind, or other tangible property used to generate electricity. Under this law, the interconnection equipment, cables, devices, and the land (limited to up to 1/2 acre per wind turbine) are also exempt. Energy facilities built after January 1, 2010, are eligible for this treatment. Visit the Ohio Development Services Agency's website for additional information, implementation documents, and program documents.
Who’s eligible : Schools, State Government, Institutional
How to apply : In 1995 Ohio passed legislation requiring that all state agencies perform life-cycle cost analyses prior to the construction of new buildings, and energy consumption analyses prior to new leases. Both analyses are to be primary considerations in either building design or leasing decisions. The State Architect’s Office of Energy Services (SAO-ES) was created within the Department of Administrative Services (DAS) to assist in this process and develop rules governing energy efficiency in new construction and the purchase of equipment. In January 2007, Ohio enacted HB 251 and Governor Ted Strickland issued Executive Order 2007-02S. Both initiatives amend state policy pertaining to energy efficiency in state buildings. H.B. 251 devotes particular attention to state institutions of higher education, which are now addressed separately from other state organizations. Passed in 2007, Resolution #07-124 requires that all K-12 public school projects meet a minimum of LEED for Schools Silver certification, with strong encouragement to achieve LEED Gold. General (all state-owned or leased buildings) Life-cycle cost analysis is required prior to the construction of any state-funded building larger than 5,000 square feet. For projects with estimated costs exceeding $50,000,000, cogeneration must be considered as an energy source. State leases of buildings larger than 20,000 square feet require an energy consumption analysis. All state-funded buildings except institutions of higher education must be managed by at least one building operator certified under the Building Operator Certification (BOC)* program or an equivalent program as determined by the SAO-ES. Institutions of Higher Education An inter-university council composed of the presidents of state institutions of higher education or their designees are to develop energy efficiency and conservation guidelines for their respective Boards of Trustees. The following provisions are among the required content of these guidelines. A goal of reducing energy consumption by at least 20% by 2014 from a 2004 baseline. Minimum efficiency standards for any new on- or off-campus capital improvement project with a cost of $100,000 or more. Minimum efficiency standards for the leasing of buildings larger than 20,000 square feet. Requirement that each board develop their own 15-year plan for phasing in efficiency and conservation improvements. Establish mechanisms for periodic progress reporting from each board to the council. As indicated above, new rules governing this process may be added as time goes on by the SAO-ES or the inter-university council. For further details please contact the SAO-ES or personnel at the university in question. *Building Operator Certification (BOC) is a nationally recognized, competency-based training and certification program for building operators that focuses on creating more comfortable, efficient facilities. Click here for more information.
Who’s eligible : Schools
How to apply : The Ohio School Facilities Commission (OSFC) administers funds appropriated by the Ohio General Assembly for the construction of new schools and renovations of existing schools. In September 2007 the OSFC approved a resolution (Resolution 07-124) requiring that all new school construction projects not already in the design phase achieve LEED for Schools Silver certification, with a goal of achieving LEED for Schools Gold certification. Credits under LEED Energy and Atmosphere Category are considered to be "preferred" investments, although the regulation sets no specific standard for this category outside of the existing certification prerequisites. The overall program is expected to fund 250 new or renovated school buildings, all of which will be required to abide by the sustainable building standard described above. 412 buildings have been registered, with 3 Platinum, 122 Gold, 279 Silver and 8 Certification levels received. Provisions in S.B. 221, which became effective July 31, 2008, directed the OSCF to adopt "solar ready" requirements and guidelines for schools. In response, the OSFC passed Resolution 08-164 in November 2008 providing requirements and guidelines for "solar ready" schools, where solar ready means capable of accommodating the eventual installation of roof-top, solar photovoltaic energy equipment. The requirements were incorporated into the Ohio School Design Manual. In June 2012, the OSFC proposed new rules for the "solar ready" standards which were taken into effect August 10, 2012 under Ohio Code 3318:1-9-01.
Can you claim multiple tax incentives in Ohio?
Yes. You are allowed to claim multiple solar incentives for the same installation. However, you can only claim each incentive once. For more guidance on how to claim your solar tax incentives, talk to your installer or consult with a licensed tax professional before submitting your tax forms.
Does Ohio offer tax exemptions?
Solar Renewable Energy Credit Program
Category : Financial Incentive
Website : https://ohioairquality.ohio.gov/incentives-and-financing/solar-generation-fund
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Residential, Cooperative Utilities, Schools, State Government, Agricultural, Multifamily Residential, Low Income Residential, Institutional
Incentive Amount : $9.00 per MWh
Implementing Sector : State
Property Tax Incentive
Category : Financial Incentive
Website : https://development.ohio.gov/business/state-incentives/qualified-energy-project-tax-exemption
Applicable Sectors : Commercial, Investor-Owned Utility, Municipal Utilities, Cooperative Utilities
Incentive Amount : 100% property tax exemption; payment in lieu of tax required
Implementing Sector : State
Category : Financial Incentive
Website : https://development.ohio.gov/business/state-incentives/qualified-energy-project-tax-exemption
Applicable Sectors : Commercial, Investor-Owned Utility, Municipal Utilities, Cooperative Utilities
Incentive Amount : 100% exemption
Implementing Sector : State
Category : Financial Incentive
Website : http://www.cincinnaticitywide.com/tax-abatement/
Applicable Sectors : Commercial, Industrial, Residential, Multifamily Residential
Incentive Amount : Residential New Construction: 100% tax abatement for 15 years Residential Renovations: 100% tax abatement for 10 years Commercial New Construction: Effective 75% tax abatement for 8-15 years Commercial Renovations: Effective 75% tax abatement for 8-12 years
Implementing Sector : Local
Category : Financial Incentive
Website : http://www.city.cleveland.oh.us/CityofCleveland/Home/Government/CityAgencies/CommunityDevelopment/TaxAbatement
Applicable Sectors : Commercial, Construction, Residential, Multifamily Residential, Low Income Residential
Incentive Amount : 100% of increase in assessed real estate property value for 10-15 years
Implementing Sector : Local
Rebate Program
Category : Financial Incentive
Website : https://midwest.centerpointenergy.com/savings/oh-home
Applicable Sectors : Construction, Residential, Installers/Contractors
Incentive Amount : Programmable Thermostat: $30-$50 Natural Gas Boiler, at least 95% AFUE and/or CE: $500 Natural Gas Furnace, at least 95% to 96.99% AFUE: $150 Natural Gas Furnace, at least 97% AFUE: $400 Natural Gas Storage Water Heater, Energy Factor of .67 or greater: $100 Natural Gas Tankless Water Heater, Energy Factor of .90 or greater: $250 Air Sealing: 100% of cost up to $250 Attic Insulation: 100% of cost up to $600 Wall Insulation: 100% of cost up to $700
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.butlerrural.coop/geothermal-rebates
Applicable Sectors : Residential
Incentive Amount : 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 Programmable Thermostats: $150/unit, maximum 2 units per customer Water Heater (50 - 100-Gallon): $350 - $650/unit
Implementing Sector : Utility
Category : Financial Incentive
Website : http://www.efficiencysmart.org/
Applicable Sectors : Residential
Incentive Amount : Select Clothes Washer: $50 Select Clothes Dryer: $50 Select Window Air Conditioners: $50 Central Air Conditioners: $100 ENERGY STAR Refrigerator: $50 Dehumidifier: $30 Air Purifier: $20 Select Cold Climate Air Source Heat Pumps: $350 - $750 Select Air Source Heat Pumps: $100 Heat Pump Water Heaters: $300 Pool Pump: $250 (above-ground) or $500 (in-ground) Smart Thermostat: $100
Implementing Sector : Utility
Category : Financial Incentive
Website : http://www.efficiencysmart.org/
Applicable Sectors : Commercial, Industrial, Federal Government
Incentive Amount : Contact Efficiency Smart
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.aes-ohio.com/mandated-end-energy-efficiency-programs
Applicable Sectors : Residential
Incentive Amount : Thermostats: $75
Implementing Sector : Utility
Category : Financial Incentive
Website : https://myenergycoop.com/rebate-programs/
Applicable Sectors : Residential
Incentive Amount : Dual Fuel Heat Pumps: $400/unit, $600/unit for ENERGY STAR Geothermal Heat Pump: $800/unit Electric Water Heater: $200 - $400 Refrigerator/Freezer Recycling: $150/unit Radio Control Switch to AC: $200/unit Level-2 EV Charger: $250/charger, max $1,500 Programmable Thermostat: 50% of costs, not to exceed $150 Insulation Sealing: 50% of costs, not to exceed $800 Air Sealing: 50% of costs, not to exceed $400
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.consolidated.coop/electric/residential/rebates/
Applicable Sectors : Residential
Incentive Amount :
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.deohpwes.com/
Applicable Sectors : Residential
Incentive Amount : Attic Insulation: $30/sq.ft up to $450 Wall Insulation: $30/sq.ft up to $150 Natural Gas Furnace: $400 Window Replacement: $20/window up to $100 Exterior Door: $75/unit up to $150
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.firelandsec.com/member-programs
Applicable Sectors : Residential
Incentive Amount : Refrigerator/Freezer: $100 Dishwasher/Clothes Washer: $50 Dehumidifier: $25 Water Heaters: $150-$300 Water Heater Replacement: $150 RCS Load Management Device: $50 Geothermal System: $700-$800 Heat Pump: $400-$500 Dual Fuel Geothermal or Heat Pump System: $200-$300 Ductless/Mini-Split Heat Pump: $300 PeakBuster Air Conditioning Incentive: $100 Air Sealing: $400 or 50% of project cost (whichever is lower) Insulation: $800 or 50% of project cost (whichever is lower) Level-2 EV Charger: $250 Smart Thermostat: 50% of costs, not to exceed $150
Implementing Sector : Utility
Category : Financial Incentive
Website : http://www.greenenergyoh.org/photovoltaics/solar-energy-basics/solar-thermal-rebate-program/
Applicable Sectors : Commercial, Schools
Incentive Amount : $30 per kBtu/day
Implementing Sector : Non-Profit
Loan Program
Category : Financial Incentive
Website : https://www.butlerrural.coop/low-interest-loans
Applicable Sectors : Residential
Incentive Amount :
Implementing Sector : Utility
Category : Financial Incentive
Website : https://development.ohio.gov/community/redevelopment/energy-loan-fund
Applicable Sectors : Commercial, Construction, Industrial, Local Government, Nonprofit, Schools, State Government, Institutional
Incentive Amount :
Implementing Sector : State
Category : Financial Incentive
Website : https://tos.ohio.gov/ecolink
Applicable Sectors : Residential
Incentive Amount :
Implementing Sector : State
Category : Financial Incentive
Website : https://www.hamiltoncountyohio.gov/government/open_hamilton_county/projects/home_improvement_program
Applicable Sectors : Commercial, Residential, Multifamily Residential
Incentive Amount :
Implementing Sector : Local
Energy Standards for Public Buildings
Category : Regulatory Policy
Website :
Applicable Sectors : Schools, State Government, Institutional
Incentive Amount :
Implementing Sector : State
Category : Regulatory Policy
Website : https://ofcc.ohio.gov/our-programs/k-12-schools/energy-services/green-schools
Applicable Sectors : Schools
Incentive Amount :
Implementing Sector : State
Grant Program
Category : Financial Incentive
Website : https://drive.ohio.gov/programs/electric/infrastructure/nevi/nevi
Applicable Sectors : Commercial
Incentive Amount : Varies, grants are awarded competitively
Implementing Sector : State
Category : Financial Incentive
Website : https://epa.ohio.gov/divisions-and-offices/environmental-education/grant-programs/vw-mitigation-grants
Applicable Sectors : Commercial, Local Government, Schools, State Government, Institutional
Incentive Amount : Varies
Implementing Sector : State
Category : Financial Incentive
Website : https://epa.ohio.gov/divisions-and-offices/environmental-education/grant-programs/diesel-emission-reduction-grants
Applicable Sectors : Commercial
Incentive Amount : Varies
Implementing Sector : State
Category : Financial Incentive
Website : https://development.ohio.gov/community/redevelopment/energy-efficiency-program
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Schools, Institutional
Incentive Amount :
Implementing Sector : State
Interconnection
Category : Regulatory Policy
Website : https://puco.ohio.gov/utilities/electricity/resources/interconnection-applicant-info
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Residential, Schools, State Government, Federal Government
Incentive Amount :
Implementing Sector : State
Net Metering
Category : Regulatory Policy
Website : https://puco.ohio.gov/utilities/electricity/resources/net-metering
Applicable Sectors : Commercial, Industrial, Residential
Incentive Amount :
Implementing Sector : State
PACE Financing
Category : Financial Incentive
Website :
Applicable Sectors : Commercial, Industrial, Residential, Agricultural, Multifamily Residential, Low Income Residential
Incentive Amount :
Implementing Sector : State
Sales Tax Incentive
Category : Financial Incentive
Website : https://tax.ohio.gov/help-center/faqs/sales-and-use-applying-the-tax-what-is-and-isnt-taxable
Applicable Sectors : Commercial, Industrial
Incentive Amount : 100% exemption
Implementing Sector : State
Renewables Portfolio Standard
Category : Regulatory Policy
Website : https://puco.ohio.gov/utilities/electricity/resources/ohio-renewable-energy-portfolio-standard
Applicable Sectors : Investor-Owned Utility, Retail Supplier
Incentive Amount :
Implementing Sector : State
Solar/Wind Access Policy
Category : Regulatory Policy
Website :
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Residential, Schools, State Government, Federal Government
Incentive Amount :
Implementing Sector : State
Generation Disclosure
Category : Regulatory Policy
Website : https://puco.ohio.gov/utilities/electricity/resources/environmental-disclosure-information-for-consumers
Applicable Sectors : Investor-Owned Utility, Municipal Utilities, Cooperative Utilities
Incentive Amount :
Implementing Sector : State
Other Incentive
Category : Financial Incentive
Website :
Applicable Sectors : Commercial, Industrial
Incentive Amount :
Implementing Sector : State
Building Energy Code
Category : Regulatory Policy
Website : http://bcap-ocean.org/state-country/ohio
Applicable Sectors : Commercial, Residential, Multifamily Residential
Incentive Amount :
Implementing Sector : State
Solar/Wind Permitting Standards
Category : Regulatory Policy
Website :
Applicable Sectors : Investor-Owned Utility, Local Government, Municipal Utilities, Cooperative Utilities
Incentive Amount :
Implementing Sector : State
Performance-Based Incentive
Category : Financial Incentive
Website : https://www.firstenergycorp.com/utilitypowerprocurements/oh/rec_procurements/index.html
Applicable Sectors : Commercial
Incentive Amount :
Implementing Sector : Utility
Public Benefits Fund
Category : Regulatory Policy
Website : http://development.ohio.gov/bs/bs_renewenergy.htm
Applicable Sectors : Commercial, Industrial, Investor-Owned Utility, Municipal Utilities, Residential, Cooperative Utilities, Institutional
Incentive Amount :
Implementing Sector : State
Category : Regulatory Policy
Website : https://development.ohio.gov/bs/bs_energyloanfund.htm
Applicable Sectors : Commercial, Industrial, Investor-Owned Utility, Municipal Utilities, Residential, Cooperative Utilities, Institutional
Incentive Amount :
Implementing Sector : State
Industry Recruitment/Support
Category : Financial Incentive
Website : https://www.development.ohio.gov/bs/bs_energyloanfund.htm
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, State Government, Federal Government, Tribal Government, Institutional
Incentive Amount : $50,000 to $2 million
Implementing Sector : State
What is the best way to pay for solar?
Cash payments
Paying cash upfront is easily the simplest and most cost-effective route — if you can afford it. It lets you maximize your total savings by avoiding interest rates and other fees. You also don’t have to worry about making monthly payments. But the downside is you have to spend a lot of cash at once which isn’t an option for everyone.
Pros
Cons
Financing
Financing solar panels is probably the most common payment method. You get to own the system — as opposed to leasing — but you don’t have to spend all your cash at once. And although you do have to pay interest, you can secure a fairly low interest rate as long you have good credit.
Pros
Cons
Solar leases and PPA agreements
If purchasing solar equipment isn’t an option for you, a lease or a PPA may be worth exploring. This is where you are essentially “renting” the equipment for a fixed rate each month. And although you don’t have ownership of your system, there are other benefits such as maintenance and servicing agreements.
Pros
Cons
Going solar doesn’t have to break the bank
Going solar is becoming more affordable than ever. And thanks to a variety of solar incentives in Ohio, you can save thousands more on your investment.
Want to get an idea for what it will cost you to go solar? You can use our solar cost calculator to generate a customized estimate instantly. We take into consideration a wide range of criteria including location, electric bill, roof size, and other factors. Try it out today and start planning for your future.
