Solar incentives and financing in Ohio
- Factsheet

What are solar incentives?
There are several types of incentives that can help you go solar. Explore the basics of solar solar incentives and how they can help you save money.
What types of solar incentives are available?
Several types of incentives can help you go solar.
The Clean Energy Credit Union
The Clean Energy Credit Union offers two main types of solar electric system loans designed to make solar installations more affordable for homeowners. Below is a brief summary of their program:
- Short-Term Solar Electric System Loan (Solar Tax Credit Loan)
This loan is specifically designed to cover the federal solar tax credit amount, which can be up to 30% of the total cost of the solar system. It needs to be repaid within 12 or 18 months, and it’s intended that the federal tax credit received will fully pay off this loan.
- Long-Term Solar Electric System Loan
This loan can be extended for 12, 15, or 20 years, offering a structured repayment plan to cover the remaining cost of the solar system installation.
Local incentive and finance programs
In Cuyahoga County, the Housing Enhancement Loan Program brings private financing at competitive rates to building owners (small businesses, large commercial/industrial, local government, non-profit, and faith-based institutions) for energy efficiency upgrades and solar projects.
The Hamilton County Home Improvement Program (HIP) provides loans at 3% below the lowest bank rate for homeowners to repair or remodel their homes. These loans can cover various home improvements, including solar installations, making renewable energy upgrades more accessible and affordable.
Heritage Home Loan (Northeast Ohio)
The Heritage Home Program Loan is a low-interest, fixed-rate home equity loan for homeowners to maintain and improve their older houses affordably. Solar installations are a qualified improvement.
Ohio SRECs
Solar Renewable Energy Credits (SRECs) are financial products meant to represent the “green value” of the electricity your solar energy system produces. A credit is created for every 1,000 kWh (or 1 MWh) of electricity produced by the system, with a fluctuating value based on the market where the SREC is traded.
Currently, SRECs produced by Ohio solar energy systems are eligible to be traded in the Ohio SREC market. Unfortunately, the Ohio market is currently oversupplied and the SREC value is low.
Luckily, solar owners in Ohio are eligible to sell their SRECs on Pennsylvania’s Tier 1 REC market. While some states have a market specifically for solar renewable energy credits, Pennsylvania has a broader REC market that includes other sources of renewable energy like wind, hydro, or geothermal. For more information about registering your system and for a list of brokers, please visit our SREC page .
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