Benefits of Solar Energy
Solar energy provides several advantages that will enhance your home for years to come.
- Reduced carbon footprint: Using clean solar power reduces your dependence on conventional, less environmentally-friendly sources.
- Lowered energy bills: You can avoid the premium cost of grid-tied power by creating some electricity at home.
- Better energy independence: Solar panels can keep your home powered through blackouts and emergencies, giving you additional security. You can use your solar energy anytime with optional battery backup.
What Solar Incentives Are Available to Midwest City Homeowners?
Oklahoma homeowners who upgrade to solar could qualify for rebates, special financing, tax credits and reimbursements. Here are just a few of the local incentive offerings.
Incentive Type: Rebate ProgramWebsite: okcoop.org
Air-source Heat Pumps: $125 - $325/ton
Geothermal Heat Pumps: $375-$1050/ton
Electric Water Heaters: $180
Commercial LED Retrofit: contact Randy Harnsberger at (405) 217-6705
Incentive Type: Personal Tax CreditWebsite: ecowatch.com
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.
How To Choose the Best Solar Company in Midwest City
The more thorough your provider search is, the better your photovoltaic system will ultimately operate. Here are some essential aspects to bear in mind while shopping for a solar provider.
Licensing and Training
Anyone with an electrician's license from the Oklahoma Construction Industries Board may perform solar energy work. Oklahoma doesn't treat solar projects as different from any other electrical job. You should also visit a company's website to learn about its private accreditations. Two of the most respected are the Solar Heating Installer and PV Installation Professional certificates, awarded by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.
Cost of Solar Panels in Midwest City
Different solar panel types look and perform differently. Monocrystalline panels cost more than other options, but they generate the most power. Polycrystalline panels produce less power, but start at a more budget-friendly price point. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.
If you'd like to charge an electric car or use your solar power in cloudy weather, you can pay extra for accessories. By selecting the right components, you can make your panel array more effective and convenient to use. Not all solar contractors include these additional features, so look for a contractor that installs them if it's crucial for you.
A majority of Midwest City homeowners select solar systems rated for five kilowatts (kW) of electrical capacity. These systems run about $15,650 to set up, considering both materials and labor. You can find more specific cost information in the table.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Midwest City
Solar providers offer multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are solar leases, power purchase agreements (PPAs), solar loans and cash payments. Most solar experts recommend paying cash or using a solar loan. Cash payments require a large up-front sum, but they help you avoid paying interest, grant you system ownership, and qualify you for cost-saving incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Similar to a home or auto loan, you'll pay a set monthly rate with as little as $0 down. Solar leases let you rent your panels for a set monthly rate, while PPAs let you pay just for the energy you use, similar to an electric bill. Both options disqualify you for solar incentives and do not provide you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Look for companies that offer multiple payment plans to find the right fit for your budget.
The table below lists the average payback periods for different capacities of solar systems in Midwest City.
You can claim a 26% federal tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, local governments and utilities may have their own rebates and financing plans that could reduce your total cost even more.
|Solar System Capacity
|Estimated Payback period
Ready to Get a Quote on Your Solar Project?
Frequently Asked Questions About Solar in Midwest City
How much energy and money could I save per year by switching to solar?
Is solar energy readily available in Midwest City?
Should I expect a property value increase after going solar?
What can I do to estimate my home's solar viability?
What's the average solar system size in Midwest City?
How long does it take to pay back a solar loan in Midwest City?
How does "net metering" work, and do I need to participate?
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