Benefits of Solar Energy
Solar energy has numerous advantages that will enhance your home for years to come.
- Lowered energy bills: You can skip the premium cost of grid-tied power by creating some electricity right where you use it.
- Reduced carbon footprint: Solar is the universe's most abundant clean energy source, meaning you can reduce or eliminate your home's dependence on non-renewable sources.
- Better energy independence: Solar panels can keep your home running 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 Oklahoma City Homeowners?
Governments and utilities often reward homeowners for going solar. Here are some of the tax credits, rebates, or other programs you could qualify for.
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 Oklahoma City
Choosing a company is the first step toward an effective and cost-efficient solar system. Here are some crucial criteria to remember while shopping for a solar company.
Licensing and Training
Anyone with an electrician's license from the Oklahoma Construction Industries Board may perform solar energy work. The state doesn't treat solar panel installations as different from any other electrical job. Solar providers can also pursue accreditations from trade groups and standards organizations. The most recognized ones in the industry come from the NABCEP. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Oklahoma City
Your solar panels' model will affect how much energy you can generate. Monocrystalline panels perform the best but cost the most. Polycrystalline panels generate less, but they're a great traditional option for low budgets. Thin-film panels are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
You can also add battery backups and electric vehicle (EV) chargers. These will increase your total project price, but they can increase your solar system's performance. Not all solar companies include these extras, so look for a provider that installs them if it's a priority for you.
If you're a resident of Oklahoma City and are looking into a five-kilowatt solar energy system, you could expect to pay about $15,650 for parts and installation. See more information on specific component and panel costs in the table.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Oklahoma City
There are numerous ways to pay for a new solar system, and the right one will reduce your expenses. A few of the most common options include cash payments, loans, leases, and power purchase agreements (PPAs). Though it involves a large up-front payment, cash is the most economical choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the second most effective option. As with a car or home loan, you'll pay a monthly rate towards system ownership, including interest. You can still apply for cost-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) lets you pay a monthly rate determined by the energy you use, similar to an electric bill. We usually don’t recommend these two choices because you won't own the panels and cannot use solar incentives. Ask each business you're evaluating about the payment options it offers. A representative can help you determine the optimal option for your budget.
The table below lists the average payback periods for different capacities of solar systems in Oklahoma 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 Oklahoma City
How much money could I save by going solar in Oklahoma City?
Is solar energy readily available in Oklahoma City?
Will a solar PV system raise my Oklahoma City home value?
Could I still use solar power if I live in a wooded, rainy, or dark area?
How long is a Oklahoma City solar panel's average lifespan?
What maintenance do my solar panels need, and how frequently do they need it?
How does "net metering" work, and do I need to participate?
Some states or power companies mandate you to participate in net metering when purchasing your solar system, while others give you a choice. Either way, once you participate, you'll earn a check or bill credit for your excess generation at a wholesale or retail rate.
To share feedback or ask a question about this article, send a note to our Reviews Team at firstname.lastname@example.org.