Rundown of Ohio Programs

The Investment Tax Credit (ITC) is an outcome of the 2023 Inflation Reduction Act (IRA) that allows businesses to deduct 30% (although there are adders to increase up to 60%) of solar panel system costs. This is a rebate on federal taxes and a substantial incentive for larger solar projects.

In some cases, a business may not be able to fully utilize the ITC. Renewable Energy Advisors has a network of businesses who are interested in acquiring the tax credits in exchange for cash to pay down development costs in a sooner cycle than waiting for tax contributions.

REA focuses on commercial development and may not be aware of all residentially available incentives.

As with most states, Ohio provides a net-metering solution. This is a remote option allowing residential and commercial customers generating electricity from solar power to sell excess electricity to the grid at an agreed rate. This grid contribution ‘nets’ out to offset energy billed from the grid (when solar panels are underperforming) and reducing utility bills in real-time.

REA focuses on commercial development and may not be aware of all residentially available icentives.

This is a 100% exemption from sales tax for commercial and industrial facilities that convert natural gas or fuel oil to an alternative fuel or power source.

For each megawatt hour (MWh) of electricity a solar panel system produces, the owner receives one SREC that can be sold to the utility.