2023 Solar Incentives Guide for Moore, OK - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Moore.
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.
Get a free quote from one of our trusted Moore solar installers to see how much you can save.
Please enter a valid 5-digit zip code!
By EcoWatch Local Advisors
Data Analysis: James Savino
Ranking Methodology: Karsten Neumeister
Updated March 14, 2023
Why you can trust EcoWatch
What Solar Tax Credits, Incentives, and Rebates are Available in Moore?
Oklahoma Electric Cooperative - Energy Efficiency Rebate Program
Geothermal Heat Pumps: $375-$1050/ton
Electric Water Heaters: $180
Commercial LED Retrofit: contact Randy Harnsberger at (405) 217-6705
Federal Residential Renewable Energy Tax Credit
The term "solar incentives" includes a wide range of financial incentives implemented to make installing and using solar panels more affordable. This is done to encourage people to switch to renewable energy. You may qualify for different kinds of incentives, such as cash back, discounts or credit towards your monthly utility bill, depending on your situation. Some incentives come from your specific utility company, county or municipality, some from the Oklahoma government and others from the federal government. Types of solar incentives might include:
- Tax Credits: Tax credits decrease, dollar-for-dollar, the total amount of tax you owe the federal government. Tax credits are different from tax deductions.
- Tax Exemptions: Your solar system may qualify for both sales tax and property tax exemptions. Sales tax exemptions come into effect at the time of purchase. Property tax exemptions let you ignore the value added by your solar panels when you are calculating property taxes on your home.
- Net Metering: You can sign a net metering agreement with your Moore utility company, that may 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.
- Rebates: Rebates, or cash back after a purchase, are typically given prior to any solar tax credits being calculated. These rebates can be provided by your local utility company, by your county or by your state.
Federal Solar Incentives
When you hear the term "solar incentives," federal incentives may be the first thing that comes to mind. You've likely heard of the Federal Solar Investment Tax Credit, or ITC. This incentive is a tax credit that reduces your taxes by a predetermined percentage of the money you spend on solar panels for your home.
The ITC can be applied to solar systems installed after January 1, 2006 on a primary or secondary residence that you own in the United States. Initially, the credit applied to 30% of the total cost — for panels, accessories, labor and equipment — although it may range from 26-30%, depending on when your solar project was undertaken. There is no cap on the claim amount.
To more fully understand how the ITC will apply to your situation, contact your local Moore solar panel installation expert and ask for more information.
The Inflation Reduction Act, passed in August 2022, added more provisions to the ITC (as well as renaming it to the Clean Energy Credit). The new Clean Energy Credit is valid until 2035. American homeowners are now eligible for a 30% credit for solar systems that began installation after January 1, 2022 and are completed by the end of 2032. This new credit will then be decreased by a few percentage points every year until its expiration. The expansion to the program also makes credits for energy storage systems even easier to claim, beginning in 2023.
Click here to learn more about the new Inflation Reduction Act. To fully understand how the new Clean Energy Credit might apply to you, get in touch with your local Moore solar installation expert.
State & Local Solar Incentives
Not all solar incentives are federal; rebates, tax credits and more might also be offered at the state and local level. Some incentives are offered for only a limited time, while others are ongoing. These local incentives might come from your county or municipality, or from the Oklahoma government.
Next Steps for Installing Solar in Moore
Solar incentives may come from your local utlity company, the Oklahoma government or the federal government. The large number of available solar incentives has helped nationwide use of solar energy increase greatly in the last 15 years. If you're ready to make the switch to solar energy, calling your local Moore solar panel installation expert is an excellent place to start.
- 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
Best Warranty Coverage
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Moore, OK Solar Incentives FAQs
How do I learn if I qualify for specific solar incentives?
Broadly, solar incentives apply to:
- a new solar panel system
- installed on a property that you own
- within the U.S.
- between the dates specified by a particular incentive.
Specific incentives, including those run by the Oklahoma government or by your county/municipality, might have additional qualifications. Talk to your local Moore solar installer to learn more about what incentives your project will qualify for.
How much will a solar system save me on my electric bill in Moore annually?
Typically, homeowners in Moore who install solar panels save about $922.72 per year, or about $17,531.70 over 20 years after making the switch.
What are some environmental benefits of installing solar panels on my house?
Solar energy is a renewable energy source — by changing where you get your energy, you help reduce the strain on our planet's resources. You can also lower your home's CO2 emissions by 500 pounds annually, or around 10,000 pounds over 20 years.
Can I receive incentives both towards the initial cost of solar panels, and later as reimbursement?
Yes, you can receive both tax credits and rebates towards the cost of solar panels. Depending on precisely which incentives you are applying for, they may apply in a different order. Make sure that you speak with your solar installer or a local tax professional to confirm 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.