2025 Solar Incentives Guide for Guthrie, OK - Tax Credits & Rebates

What Solar Tax Credits, Incentives, and Rebates are Available in Guthrie?

Source: https://www.dsireusa.org/

Solar incentives are intended to make renewable energy usage more affordable via financial incentives to help people install solar panels on their homes. You may be eligible for several types of incentives, including discounts, cash back or credit towards your monthly utility bill, depending on your situation. Certain incentives come from your specific utility company, county or municipality, some from the state of Oklahoma and others from the federal government. Some solar incentives you might qualify for are:

• Tax Credits: Tax credits are dollar-for-dollar reductions (not deductions) in how much in taxes you owe the federal government.
• Net Metering: Don't forget to speak to your Guthrie utility company about signing a net metering contract. This allows you to get a credit towards your monthly utility bill for the value of excess energy your solar panels generate. You might receive either a dollar-for-dollar credit or a percentage of the value.
• Rebates: Solar rebates may be provided by your county or state, or by your local utility company. These rebates are essentially cash back that is applied after you purchase a solar system and before tax credits are calculated.
• Tax Exemptions: These may come in the form of property tax exemptions, which would allow you to exclude the value of your solar system when calculating the taxes you pay on your house. They may also include exemptions on sales tax at the time of purchase.

Federal Solar Incentives

Federal incentives are the kind of incentives that you are most likely to have some familiarity with. An incentive many people are probably familiar with is the Federal Solar Investment Tax Credit (ITC). The ITC is a tax credit for a predetermined percentage of your solar system's cost.

The ITC can be applied to solar systems installed after January 1, 2006, on a primary or secondary residence in the United States that you own. Originally, the tax credit was for 30% of the total cost – for panels, equipment, labor and accessories – although that amount may range from 26-30%, depending on when your solar project was undertaken. There is no cap on the amount you can claim.

Your local Guthrie solar panel installation expert can provide you with more information about the ITC and how it may apply to your situation.

The Inflation Reduction Act, passed in August 2022, expanded and extended the ITC (as well as renaming it to the Clean Energy Credit). The new Clean Energy Credit is valid until 2035. Homeowners can now receive a 30% credit for solar systems that began installation after January 1, 2022, and are completed by the end of 2032. The credit will then be decreased by a few percentage points every year until the date of expiration. Starting in 2023, it will also be easier to get credits for energy storage systems under this new program.

Click here to learn more about the new Inflation Reduction Act. Your local Guthrie solar panel installation experts can answer your questions and explain how the new Clean Energy Credit applies to you.

State & Local Solar Incentives

Rebates, tax credits and more can be provided at multiple levels. On top of federal solar incentives, there are often state and local ones as well. Incentives might be offered by your county or municipality, or by the state of Oklahoma. Certain incentives are available for only a limited time, while others are ongoing.

Next Steps for Installing Solar in Guthrie

Nationwide solar energy use has gone up tremendously in the last 15 years, in part due to the proliferation of solar incentives. You might receive these incentives from your local utility company, the federal government or the Oklahoma government. Your local Guthrie solar panel installer can provide you with more details about which incentives you can apply for, and get you started on the path to switching to renewable energy today.