2024 Solar Incentives Guide for Tahlequah, OK - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Tahlequah.
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 Tahlequah?
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
Source: https://www.dsireusa.org/
Solar incentives mitigate the cost of installing a solar panel system on your home. These financial incentives are in place to encourage more people to switch their home over to renewable energy. 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 state of Oklahoma and some by your utility company, county or municipality. Types of solar incentives might include:
- Tax Credits: Tax credits are dollar-for-dollar reductions (not deductions) in how much in taxes you owe the government.
- Tax Exemptions: Your solar system could 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 that solar panels add when calculating property taxes on your home.
- Rebates: Solar rebates may be provided by your local utility company, or by your state or county. These rebates are essentially cash back that is applied after you purchase solar panels and before tax credits are calculated.
- Net Metering: Net metering is an incentive you can get after your solar panels are up and running. If you have a net metering agreement with your Tahlequah 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 places, this is a dollar-for-dollar credit, while in other places you might receive a refund equivalent to a percentage of the value.
Best National Provider
SunPower
- 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
- 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 you think about solar incentives, you likely think of federal incentives first. You may have heard of the Federal Solar Investment Tax Credit, or ITC. This incentive is a tax credit equal to a certain percentage of the money you spend on solar panels for your home.
The ITC covers solar systems installed after January 1, 2006, and allows you to deduct from your taxes a percentage of the total cost of solar panels, accessories, equipment and labor. This credit can be claimed on solar panels installed on a primary or secondary residence in the United States that you own. The original amount you could claim was 30% of the total cost, although certain projects may qualify for only 26%, depending on the details. There is no maximum amount you can claim.
To understand exactly how much the ITC could save you, contact your local Tahlequah solar panel installer.
The Inflation Reduction Act, passed in August 2022, expanded and extended the ITC (as well as renaming it to the Clean Energy Credit). Under the new program, solar installation projects that are completed between 2022 and 2032, might qualify for a 30% tax credit. The amount of the credit will then see a slight annual decrease until the end of the current Clean Energy Credit in 2035. Starting in 2023, the expansion will also make it easier to get credit for energy storage systems.
Click here to learn more about the new Inflation Reduction Act. Your local Tahlequah solar panel installer can answer any questions you have and explain how the new Clean Energy Credit will apply to you.
State & Local Solar Incentives
Rebates, tax credits and more can be provided at multiple levels. Along with federal solar incentives, there are often state and local ones as well. The incentives — which might be provided by the state of Oklahoma, or by your county or municipality — might be offered on an ongoing basis, or for only a limited time.
Next Steps for Installing Solar in Tahlequah
The expanding number of available solar incentives has helped tremendously increase the use of solar power nationwide over the past 15 years. You can get solar incentives from your local utility company, the Oklahoma government or the federal government. Speaking with your local Tahlequah solar panel installation company is the right first step towards making sure you get all the incentives you qualify for when you switch to solar energy.
EcoWatch's Tahlequah, OK Solar Incentives FAQs
How much will a solar system save me annually on my electric bill in Tahlequah?
Once you add solar panels to your Tahlequah home, you can anticipate savings of approximately $895.48 per year, or about $17,014.13 over 20 years.
Who installs solar panel systems near me?
To discover the best solar panel installation companies near you, read our article on Tahlequah's best solar panel companies.
What are some of the environmental benefits of switching to solar energy?
Solar energy is a renewable energy source — by switching where you get your energy, you help lessen the strain on our planet's resources. You can also reduce the CO2 emissions from your home by 500 pounds a year, or around 10,000 pounds over 20 years.
When does the federal solar tax credit end?
The federal solar tax credit, previously called the ITC and now called the Clean Energy Credit, is set to end on January 1, 2035. The current 30% credit will end in 2032, replaced by a 26% credit in 2033 and a 22% credit in 2034.
Can I use a combination of multiple types of renewable energy to power my home?
Yes, you can use multiple types of renewable energy to power your home — for example, a combination of geothermal and solar. You can also combine renewable energy generation with a backup source of non-renewable energy. Be sure to discuss your proposed plan with your local Tahlequah solar panel installer, to make sure you know what you'll need and what types of incentives you may or may not 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.