2024 Solar Incentives Guide for Oklahoma City, OK - Tax Credits & Rebates

In this guide, we'll cover the latest solar incentives and rebates available in Oklahoma City.

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.
Get a free quote from one of our trusted Oklahoma City solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

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

Oklahoma City - Green Home Loan Program

Incentive Type:
Loan Program
$15,000

Oklahoma Electric Cooperative - Energy Efficiency Rebate Program

Incentive Type:
Rebate Program
Air-source Heat Pumps: $125 - $325/ton
Geothermal Heat Pumps: $375-$1050/ton
Desuperheater: $225/unit
Electric Water Heaters: $180
Commercial LED Retrofit: contact Randy Harnsberger at (405) 217-6705

Federal Residential Renewable Energy Tax Credit

Incentive Type:
Personal Tax Credit
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.

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


Solar incentives are designed to make renewable energy usage more affordable through financial incentives to help people install solar panels on their homes. These incentives could include upfront discounts, cash back or credit towards your monthly utility bill. Some incentives are handled by the federal government, some by the Oklahoma government and some by your specific utility company, county or municipality. You might qualify for any of the following types of solar incentives:

  • Net Metering: Net metering is an incentive you can get after your solar panels are up and running. If you've signed a net metering agreement with your Oklahoma City utility company, the company will subtract the value of the excess energy produced by your solar system from your monthly utility bill. In some locations, this credit is dollar-for-dollar, while in others you may receive a refund equivalent to a percentage of the value.
  • Rebates: A rebate is a partial refund after the purchase of 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 calculating tax credits.
  • Tax Credits: Tax credits are dollar-for-dollar reductions (not deductions) in how much income tax you owe the federal government.
  • Tax Exemptions: Your solar panels could qualify for both sales tax and property tax exemptions. Sales tax exemptions are applied at the time of purchase. Property tax exemptions let you exclude the value added by your solar panels when you are calculating property taxes on your house.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
3.2

  • 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

Federal Solar Incentives

When someone says "solar incentives," you likely think of federal incentives first. One of the incentives many people are likely to be familiar with is the Federal Solar Investment Tax Credit (ITC). This incentive is a tax credit for a specific percentage of your solar system's cost.

The ITC applies to solar panels installed after January 1, 2006, on a primary or secondary residence that you own in the United States. The credit initially covered 30% of the total cost – for panels, equipment, labor and accessories – although it may range from 26-30%, depending on the installation date of your solar system. There is no cap on the claim amount.

Your local Oklahoma City solar panel installation expert can give you more information about the ITC and how it might apply to your situation.

The ITC has been renewed and expanded following the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. Homeowners are now eligible for a credit of 30% of the total solar system installation costs for projects that began after January 1, 2022, and will be finished by the end of 2032. The percentage will then decrease annually until the Clean Energy Credit expires in 2035. Starting in 2023, the program expansion will also make claiming credit for energy storage systems easier than ever before.

More information about the new Inflation Reduction Act can be found here. Your local Oklahoma City solar panel company is the best resource for answering your questions about the new Clean Energy Credit and how it will apply to you.

State & Local Solar Incentives

Some solar incentives may be provided by state and local governments. Like with federal incentives, these can include tax credits, rebates and more. Certain incentives are offered for only a limited time, while others are ongoing. Your local solar incentives might come from the Oklahoma government, or from your specific county or municipality.

Next Steps for Installing Solar in Oklahoma City

Solar energy use nationwide has significantly increased in the past 15 years, in part due to the increase in availability of solar incentives. You can obtain these incentives from your local utility company, the federal government or the Oklahoma government. We recommend talking to your local Oklahoma City solar installer to learn more about these incentives and to be sure that you're getting the most money possible for your solar panels.

EcoWatch's Oklahoma City, OK Solar Incentives FAQs

How can I find out if I qualify for specific solar incentives?

In most cases, solar incentives apply to:

  1. a new solar system
  2. installed on a property that you own
  3. within the U.S.
  4. within the date range specified by a particular incentive.

Specific incentives, including those given out by the Oklahoma government or by your county/municipality, may have additional qualifications. Speak with your local Oklahoma City solar installer to learn more about what incentives your project may qualify for.

What are the environmental benefits of switching to solar energy?

Solar energy is renewable — by switching where you get your energy, you help reduce the strain on our planet's resources. You can also reduce the CO2 emissions from your home by 500 pounds yearly, or around 10,000 pounds over 20 years.

Can I qualify for incentives both towards the initial cost of solar panels, and later as reimbursement?

The order in which incentives are applied might vary depending on which incentives you are eligible for but in most cases yes, you can claim multiple types of incentives for your solar project. Speak to your solar installer or a local tax professional to ensure you are claiming all the incentives you qualify for and applying them in the correct order.

Can I use a combination of solar and another type of renewable energy to power my home?

You can use multiple types of renewable energy, or a combination of renewable and non-renewable energy, to power your home. Be sure to go over your plan with your local Oklahoma City solar installer. They can help you with the plan for your project and give you an understanding of various incentives that you will or won't qualify for.

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.

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