2023 Solar Incentives Guide for The Village, OK - Tax Credits & Rebates

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

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 The Village solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated September 15, 2023

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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 The Village?

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/


The phrase "solar incentives" generally refers to financial incentives designed to encourage the adoption and use renewable energy by making installing and using solar panels more affordable. You may qualify for different types of incentives, such as cash back, discounts or monthly utility bill credits, depending on your situation. Certain incentives come from your specific utility company, county or municipality, some from the Oklahoma government and others from the federal government. Some broad categories of solar incentives include:

  • Rebates: Some solar companies will help you claim a rebate, or partial refund of your purchase, for your solar system. Counties or states will also offer limited-time rebates at various times. The value of a rebate will usually be deducted from the total price before any tax credits are calculated.
  • Tax Exemptions: These might come in the form of property tax exemptions, which allow you to exclude the value of your solar system when paying taxes on your house. They may also include exemptions on sales tax at the time of purchase.
  • Tax Credits: Tax credits are dollar-for-dollar reductions (not deductions) in how much in taxes you owe the government.
  • Net Metering: Net metering becomes relevant after your solar system is up and running. If you've signed a net metering agreement with your The Village 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 areas, this is a dollar-for-dollar credit, while in other places you might get refunded a percentage of the value.

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SunPower

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Best Warranty Coverage

ADT Solar

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Best Technology

Tesla Energy

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3.2

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  • Customer service varies by local dealer

Federal Solar Incentives

Federal solar incentives are probably the first thing that you think of when you think about solar incentives. You've likely heard of the Federal Solar Investment Tax Credit, or ITC. The ITC is a tax credit equal to a certain percentage of the money you spend on your solar system.

The ITC can be applied to the total cost of installing solar panels, including the panels themselves as well as equipment, accessories and labor. This credit can be claimed for panels installed after January 1, 2006 on a primary or secondary residence located in the United States that you own. Originally set at 30% of total costs, the credit has fluctuated over time, and you may qualify for different amounts depending on when your project was completed. There is no maximum amount you can claim.

To best understand how the ITC could apply to your situation, get in touch with your local The Village solar panel installation expert and request more information.

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. The Clean Energy Credit is valid until 2035. Any solar installation project that is completed between January 1, 2022 and December 31, 2032 may qualify for a 30% tax credit; this amount will then decrease slightly on a yearly basis until the current program ends. Starting in 2023, the expansion to the program will also make it easier to get credit for energy storage systems.

Click here to learn more about the new Inflation Reduction Act. The easiest way to learn more about how the new Clean Energy Credit applies to you is to speak with your local The Village solar panel company directly.

State & Local Solar Incentives

Tax credits, rebates and more might be claimed at multiple levels. Along with federal solar incentives, there are often state and local ones as well. These solar incentives — which may be given by your county or municipality, or by the state of Oklahoma — could be offered for only a limited time, or on an ongoing basis.

Next Steps for Installing Solar in The Village

Nationwide solar energy use has gone up significantly in the past 15 years, in part thanks 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. Talking to your local The Village solar panel installation expert is an excellent first step towards getting the most money possible when you switch to solar energy.

EcoWatch's The Village, OK Solar Incentives FAQs

How do I learn if I qualify for certain solar incentives?

It's best to speak with your local The Village solar installer for a better understanding of which incentives your project may qualify for. In most cases, solar incentives apply to new solar panel systems installed on property you own (in the U.S.) between the dates specified by the incentive. Some incentives, such as those offered by the government of Oklahoma, might have other requirements.

How much can I save annually on my electric bill if I add solar panels to my house in The Village?

Generally, The Village homeowners who install solar panels save around $872.94 per year, or around $16,585.79 over 20 years after they make the switch.

What are some of the environmental benefits of switching to solar energy?

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

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

The order your incentives will be applied in might vary depending on which incentives you are claiming but generally yes, you can receive multiple types of incentives for your solar project. Talk with your solar installer or a local tax professional to verify you are claiming all the incentives you are eligible for and applying them in the correct order.

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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