2023 Solar Incentives Guide for Tulsa, OK - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Tulsa.
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.
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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 Tulsa?
Verdigris Valley Electric Cooperative - Residential Energy Efficiency Rebate Program
Heat Pump Water Heaters: $500
Smart Thermostat: $50
Programmable Timer for Engine Block Heater: $15
Ground-Source Heat Pumps (new): $300/ton
Ground-Source Heat Pumps (replacement): $150/ton
Air-source/Dual Fuel Heat Pumps: $150/ton
AEP Public Service Company of Oklahoma - Residential Efficiency Rebate Program
Advanced Power Strips: $10-$13
Programmable Wi-Fi Thermostat: $110
Energy Star Heat Pump Water Heater: $500
Energy Star Electric Clothes Dryer: $50
Energy Star Refrigerators: $50
Energy Star Clothes Washer: $50
Energy Star Bathroom Ventilation Fan: $25
Energy Star Room A/C: $25
Energy Star Water Cooler: $25
Energy Star Air Purifiers: $20-$50
Door Sweeps: $3
Door Seals: $5
Spray Foam Insulation: $1
Furnace Filters: $1
Pool Pump: $400
Attic/Ceiling Insulation: $400
Knee Wall Insulation, Wall Insulation, Floor/Crawlspace Insulation, Air Infiltration: Multiple Upgrades Only
Air Conditioner/Heat Pump Replacement: $500-$800
Ground Source Heat Pump: $800
Furnace ECM, Duct Replacement, Duct Sealing: Multiple Upgrades Only
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
The term "solar incentives" refers to a 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. Incentives can include things like discounts, cash back or credit on your utility bill each month. Some incentives are offered federally, while others are provided by the Oklahoma government or your specific utility company, county or municipality. Categories of solar incentives include:
- Rebates: A solar rebate is a partial refund credited to your account after you've paid for your solar panels. Rebates might be offered by your local utility company, your county or your state. The cash back that you get from the rebates is normally applied before calculating tax credits.
- Net Metering: Net metering factors in after your solar system is up and running. If you have a net metering agreement with your Tulsa utility company, it 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 other places you might make back a percentage of the value.
- Tax Credits: Tax credits reduce, dollar-for-dollar, the total amount of tax you owe the government. These differ from tax deductions.
- Tax Exemptions: Sales tax exemptions are applied at the point of sale for your solar system. Property tax exemptions allow you to ignore the added value of your solar system when you calculate how much property tax you need to pay on your home.
Federal Solar Incentives
When you hear the term "solar incentives," federal incentives might be the first thing that comes to mind. The Federal Solar Investment Tax Credit, or ITC, is likely the best-known federal solar incentive. The ITC provides a tax credit for a predetermined percentage of the cost of your solar system.
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. The credit initially covered 30% of the total cost — for panels, labor, accessories and equipment — although it may range from 26-30%, depending on when your solar system was installed. There is no cap on the amount you can claim.
To find out exactly how much money the ITC could save you, contact your local Tulsa solar panel installer.
In August 2022, the ITC (now called the Clean Energy Credit) was bolstered by the passage of the Inflation Reduction Act. For solar system installations that begin after January 1, 2022 and are completed by the end of 2032, homeowners may be eligible for a credit for 30% of the total cost. The percentage will then decrease annually until the Clean Energy Credit ends in 2035. 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. To fully understand how the new Clean Energy Credit applies to you, speak with your local Tulsa solar installation company.
State & Local Solar Incentives
There are often also state solar incentives in addition to those provided by the federal government. Tax credits, rebates and more can be offered at a more local level. Some incentives are offered for only a limited time, while others are ongoing. Your local solar incentives could come from the Oklahoma government, or from your specific county or municipality.
Next Steps for Installing Solar in Tulsa
The variety of solar incentives available has enormously increased the nationwide adoption of solar energy over the past 15 years. You might qualify for solar incentives from your local utility company, the federal government or the Oklahoma government. Call your local solar panel installer today to find out more information and to save the most money possible on a solar system for your Tulsa home.
- 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 Tulsa, OK Solar Incentives FAQs
How can I find out if I qualify for solar incentives?
Broadly, solar incentives apply to:
- a new solar panel system
- installed on a property that you own
- within the U.S.
- within the date range specified by a particular incentive.
Specific incentives, including ones handled by the Oklahoma government or by your county/municipality, might have additional qualifications. Talk to your local Tulsa solar installer to find out what incentives your project may qualify for.
How much can I save annually on my electric bill if I install solar panels on my house in Tulsa?
Once you add solar panels to your house in Tulsa, you can expect to save approximately $866.28 per year, or approximately $16,459.31 over 20 years.
What are the highest-rated solar panel installation companies near me?
To learn about the best solar panel installation companies near you, read our article on Tulsa's best solar panel companies.
If I trade in my appliances for ones that utilize solar energy, are there any benefits I can claim?
Under the new Inflation Reduction Act, there are a number of new financial incentives to encourage you to make eco-friendly improvements to your home. More details regarding these incentives, including information about incentives for purchasing new appliances, can be found here.
Can I receive incentives both towards the up-front cost of solar panels, and later as reimbursement?
Yes, you can claim both tax credits and rebates towards the cost of your solar panels. Depending on precisely which incentives you are eligible for, they may apply in a different order. Be sure to talk to 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.