Are there specific credits available for renewable energy investments?

Yes, Ohio offers specific credits and incentives for renewable energy investments, which are designed to encourage the use of clean and sustainable energy sources. One notable program is the Ohio Renewable Energy Credits (RECs), which allows businesses and individuals who generate renewable energy to earn credits that can be sold or traded. These credits help meet the requirements set forth by Ohio's renewable energy standards. Additionally, there are tax credits available for solar energy systems under the federal Investment Tax Credit (ITC), which allows taxpayers to claim a significant percentage of their solar investment as a tax credit. While this is a federal program, many Ohio residents and businesses benefit from it. Moreover, there might be local programs or incentives that complement state and federal initiatives, aimed at reducing installation costs for renewable energy systems such as solar panels or wind turbines. It could be worthwhile for interested individuals or businesses to explore the specific available programs based on their project type and location. For the most up-to-date information on available credits and incentives for renewable energy investments, the Ohio Department of Taxation's current web page is a valuable resource.