2023 Solar Incentives Guide for Coweta, OK - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Coweta.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2023 and beyond)
- Ways to optimize your solar investment
Solar installers are experts in maximizing your solar tax credits and rebates.
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By EcoWatch Local Advisors
Data Analysis: James Savino
Ranking Methodology: Karsten Neumeister
Updated May 04, 2023
Why you can trust EcoWatch
What Solar Tax Credits, Incentives, and Rebates are Available in Coweta?
Verdigris Valley Electric Cooperative - Residential Energy Efficiency Rebate Program
Heat Pump Water Heaters: $500
Smart Thermostat: $50
Programmable Timer for Engine Block Heater: $15
Ground-Source Heat Pumps (new): $300/ton
Ground-Source Heat Pumps (replacement): $150/ton
Air-source/Dual Fuel Heat Pumps: $150/ton
AEP Public Service Company of Oklahoma - Residential Efficiency Rebate Program
Advanced Power Strips: $10-$13
Programmable Wi-Fi Thermostat: $110
Energy Star Heat Pump Water Heater: $500
Energy Star Electric Clothes Dryer: $50
Energy Star Refrigerators: $50
Energy Star Clothes Washer: $50
Energy Star Bathroom Ventilation Fan: $25
Energy Star Room A/C: $25
Energy Star Water Cooler: $25
Energy Star Air Purifiers: $20-$50
Door Sweeps: $3
Door Seals: $5
Spray Foam Insulation: $1
Furnace Filters: $1
Pool Pump: $400
Attic/Ceiling Insulation: $400
Knee Wall Insulation, Wall Insulation, Floor/Crawlspace Insulation, Air Infiltration: Multiple Upgrades Only
Air Conditioner/Heat Pump Replacement: $500-$800
Ground Source Heat Pump: $800
Furnace ECM, Duct Replacement, Duct Sealing: Multiple Upgrades Only
East Central Electric Cooperative - Residential Rebate Program
Complete system (unit and ground loop) - $750 per ton
Marathon Electric water heater - $150
ENERGY STAR heat pump water heater: up to $500
ENERGY STAR Room AC - $50
ENERGY STAR Advanced programmable thermostat: up to $50
Weatherization: 50% of cost
Federal Residential Renewable Energy Tax Credit
Solar incentives mitigate the cost of installing solar panels on your home. These financial incentives are in place to encourage more Americans to switch to renewable energy. Solar incentives may include upfront discounts, cash back or credit towards your monthly utility bill. Some incentives are given by the federal government, some by the Oklahoma government and some by your specific utility company, county or municipality. Types of solar incentives might include:
- Net Metering: Net metering becomes relevant after your solar system is up and running. If you have a net metering agreement with your Coweta utility company, the company will subtract the value of the excess energy produced by your solar system from your utility bill each month. In some areas, this is a dollar-for-dollar credit, while in others you might be refunded a percentage of the value.
- Tax Credits: These credits are dollar-for-dollar reductions (not deductions) in how much income tax you owe the federal government.
- Rebates: Rebates, or partial refunds after a purchase, are usually given before any solar tax credits are calculated. Rebates may be offered by your local utility company, by your county or by your state.
- Tax Exemptions: Sales tax exemptions go into effect at the point of sale for your solar system. Property tax exemptions let you exclude the value that your solar panels add when calculating how much property tax you need to pay.
Federal Solar Incentives
When people think of solar incentives, federal incentives may be the first thing that comes to mind. One of the incentives that most people are likely familiar with is the Federal Solar Investment Tax Credit (ITC). This incentive is a tax credit for a given percentage of the cost of your solar system.
The ITC applies to the value of a solar system installed on your primary or secondary residence in the United States. The solar system must have been installed after January 1, 2006 on a property you own for you to be eligible for the credit. Initially, the ITC applied to 30% of all system installation costs (panels, accessories, equipment and labor), although this amount has fluctuated slightly over time between 26-30%. The amount you qualify for will depend on when your solar system was installed. There is no cap on the amount you can claim.
Your local Coweta solar panel installer can offer more information about the ITC and how it may apply to your situation.
In August 2022, the Inflation Reduction Act made revisions to the ITC, now called the Clean Energy Credit. With the new provisions, solar installation projects begun after January 1, 2022 and finished by December 31, 2032 can qualify for a 30% tax credit. This credit amount will then see a slight annual decrease until the current Clean Energy Credit expires in 2035. Starting in 2023, the expansion to the program will also make credits for energy storage systems even easier to claim.
More information about the new Inflation Reduction Act can be found here. Your local Coweta solar panel installer can answer your questions and explain how the new Clean Energy Credit may apply to you.
State & Local Solar Incentives
There are more than just federal solar incentives; rebates, tax credits and more are often offered at the state and local level. Some incentives are ongoing, while others might only be available for a limited time. They may be provided by your county or municipality, or by the Oklahoma government.
Next Steps for Installing Solar in Coweta
Nationwide solar energy use has increased enormously in the past 15 years, in part due to the growth in the number of solar incentives. You may get these incentives from the Oklahoma government, the federal government or your local utility company. Speak with your local solar panel installer today to learn more and to save the most money possible on solar panels for your Coweta home.
Best Warranty Coverage
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Coweta, OK Solar Incentives FAQs
What if I add solar panels to a rental property, vacation home or commercial property? Do I still qualify for incentives?
Many solar incentives are intended to apply to a property you own that is located within the United States; most secondary residences fall under this distinction. There may be other solar incentives available for commercial properties, depending on the details. We recommend reaching out to your local solar installer and/or tax professional to best understand what incentives will apply to your specific situation.
How do I know if I qualify for solar incentives?
It's best to speak with your local Coweta solar installer to get an understanding of which incentives your project may qualify for. Usually, solar incentives apply to new solar panel systems installed on property you own (in the U.S.) between the dates specified by the incentive. Some incentives, such as those offered by the government of Oklahoma, might have other requirements.
Who installs solar panel systems near me?
To find the best solar panel installers near you, read our article on Coweta's best solar panel companies.
What are some of the environmental benefits of switching to solar?
Solar energy is renewable — by changing where you get your energy, you help reduce the strain on our planet's resources. Solar panels can also reduce the CO2 emissions from your home by 500 pounds a year, or roughly 10,000 pounds in 20 years.
I want to change out my appliances for ones that are more energy-efficient. Are there any credits I can get?
The new Inflation Reduction Act creates a number of new financial incentives that are available when you make eco-friendly improvements to your home. More details about these incentives, including information about incentives for purchasing new appliances, can be found here.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Solar incentive research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.