2025 Solar Incentives Guide for Edmond, OK - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Edmond.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2024 and beyond)
- Ways to optimize your solar investment
Solar installers are experts in maximizing your solar tax credits and rebates.
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What Solar Tax Credits, Incentives, and Rebates are Available in Edmond?
Oklahoma Municipal Power Authority - WISE Energy Efficiency Rebate Program
Residential Dual-Fuel Heat Pumps: $250/ton
Residential and Commercial Geothermal Heat Pumps: $800/ton
Commercial Air-Source Heat Pumps: $200/ton
Commercial Dual-Fuel Heat Pumps: $200
Ceiling Insulation (Residential Only): $250-$500
Edmond Electric - Residential Energy Efficiency Rebate Programs
Geothermal Heat Pumps: $800 per ton
Ceiling Insulation: $250-$500
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives are meant to help mitigate the cost of installing a solar panel system on your home. These financial incentives are in place to encourage more homeowners to make the switch to renewable energy. Various types of incentives, including cash back, discounts or monthly utility bill credits, might be available to you. Certain incentives may be offered by the Oklahoma government, by your utility company or by county or municipality, while others are federal. Some solar incentives you might qualify for are:
- Tax Exemptions: Tax exemptions may come in two forms. The first is sales tax exemption, which is applied at the time you purchase your solar panels. The second is property tax exemption, which allows you to exclude the value added by your solar system when paying property tax on your home.
- Net Metering: You can sign a net metering agreement with your Edmond utility company that will apply to all or a percentage of the excess electricity your solar panels generate. Your utility company will then subtract this value from your utility bill each month.
- Tax Credits: Tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government. (A tax credit is different from a tax deduction.)
- Rebates: A solar rebate is a partial refund given after you've purchased your solar panels. Rebates may be offered by your local utility company, your state or your county. The discount that rebates offer is normally applied to the price of solar panels before tax credits are calculated.
Federal Solar Incentives
When thinking about solar incentives, you likely think of federal incentives first. The Federal Solar Investment Tax Credit, or ITC, is the most well-known federal solar incentive. The ITC allows you to claim a tax credit for a predetermined percentage of your solar system's cost.
The ITC was originally for 30% of the cost of solar system installation, although it has fluctuated slightly over the years between 26-30%. The percentage you qualify for will depend on when your solar system was installed. The total installation cost includes the panels themselves as well as the cost of equipment, labor and accessories. There is no maximum amount you can claim. The ITC applies to solar panels installed after January 1, 2006, on your primary or secondary residence. The residence must be in the United States and owned by you.
Your local Edmond solar panel installer can give you more information about the ITC and how it may apply to your situation.
In August 2022, the ITC (now referred to as the Clean Energy Credit) was bolstered by the passage of the Inflation Reduction Act. For solar systems installed between January 1, 2022, and December 31, 2032, homeowners can apply for a credit for 30% of the total cost. The percentage will then decrease annually until the Clean Energy Credit ends in 2035. Starting in 2023, it will also be easier to get credits for energy storage systems under the new laws.
Click here to learn more about the new Inflation Reduction Act. Your local Edmond solar panel installation expert is the best person to answer your questions regarding the new Clean Energy Credit and how it applies to you.
State & Local Solar Incentives
Some solar incentives are often also offered at the local or state level. Similar to federal incentives, these can include rebates, tax credits and more. Certain incentives are ongoing, while others are offered for only a limited time. Your local incentives could come from your county or municipality, or from the Oklahoma government.
Next Steps for Installing Solar in Edmond
Solar incentives may come from your local utility company, the Oklahoma government or the federal government. The variety of available solar incentives has contributed to a large increase in solar energy use in the last 15 years. Your local Edmond solar panel installer can help you learn more about which incentives you might qualify for, and get you feeling good about making the change to renewable energy today.
EcoWatch's Edmond, OK Solar Incentives FAQs
What are the highest-rated solar panel installation companies near me?
To discover the top solar panel installers near you, take a look at our article on Edmond's top solar panel companies.
What are the environmental benefits of switching to solar?
You can decrease your carbon footprint by 500 pounds of CO2 annually by switching to solar panels. This adds up to roughly 10,000 pounds over 20 years. Solar is also a renewable energy source, which means that making the switch lessens the drain on our planet's resources.
I want to change out my appliances for ones that are more energy-efficient. Are there any benefits I can get?
The new Inflation Reduction Act creates a number of new financial incentives to encourage you to make eco-friendly improvements to your home. More details about these incentives, including information about incentives for purchasing new appliances, can be found here.
Can I apply for incentives both towards the up-front cost of solar panels, and later as reimbursement?
Yes, you can receive both tax credits and rebates towards the cost of your solar panels. Depending on precisely which incentives you are claiming, they may apply in a different order. Be sure to speak with your solar installer or a local tax professional to ensure that you are claiming incentives correctly and that you're getting the most money you can.
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.