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Here's the latest in Solar Energy Incentives

  1. There is a federal 30% Investment Tax Credit available, which is for 30% of the total installed cost of the array.
  2. Since Ohio has a Renewable Portfolio Standard that requires the public utilities to include an increasing amount of renewable energy into their grid offering to their customers, the Solar Renewable Energy Credits which are earned by renewable generation for each 1 MegaWatt-Hour of electricity can be sold to utilities.  These have a market value, currently between about $100 and $300 each, depending on the amount available in the market at any given time.
  3. There is the opportunity for accelerated depreciation for the solar array on federal taxes.
  4. There are various low-interest loan packages available, depending on the customer.
  5. For non-profits such as schools, universities, municipalities, there are third-party financing deals that can be puit together to pay for and own the installation.  In that case, the user of electricity signs a Power Purchase Agreement, which provides a fixed amount of electricity at a fixed price per year, for 10 - 20 years.
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