Benefits of Solar Energy
Solar energy provides multiple perks. Let's look at a few of them.
- Lowered energy bills: Solar panels allow you to generate your own energy to power your home, lowering your regular electricity costs. You can eliminate your bills completely if you go off-grid. Plus, a significant amount of states offer net metering, which permit you to earn money by selling your unused energy back to the grid.
- Reduced carbon footprint: The sun is the universe's most abundant clean energy source, meaning you can lower or beat your home's dependence on non-renewable sources.
- Better energy independence: Photovoltaic solar panel systems with energy storage systems function through power outages and emergencies, and you won't have to rely on the grid for your safety and well-being.
What Solar Incentives Are Available to Oklahoma City Homeowners?
Oklahoma's public agencies and power companies offer a number of solar incentives to help lower your solar system costs. Here is a breakdown of eligible solar programs where you live.
Incentive Type: Loan Program
Website: okc.govIncentive Amount:
$15,000
Incentive Type: Rebate Program
Website: okcoop.orgIncentive Amount:
Air-source Heat Pumps: $125 - $325/ton
Geothermal Heat Pumps: $375-$1050/ton
Desuperheater: $225/unit
Electric Water Heaters: $180
Commercial LED Retrofit: contact Randy Harnsberger at (405) 217-6705
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
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
The more comprehensive your company investigation is, the better your photovoltaic system will ultimately perform. Make your choice based on the following vital factors.
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 projects as different from any other electrical job. Check for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of the solar sector's most trusted trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Oklahoma City
The kind of solar panels you select dictates how much electricity you can generate. Monocrystalline panels and high-quality and give you the best performance but cost more upfront. Polycrystalline panels work with a tried-and-true mechanism and cost less, but produce less power. Thin-film panels aren't the best for large residential installations, but they are excellent accessories for non-traditional roofs.
Additional accessories, such as battery storage and electric vehicle (EV) chargers, will add to your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar company provides these optional components, so look for a contractor that installs them if it's a priority for you.
A majority of Oklahoma City homeowners opt for solar systems rated for five kilowatts (kW) of electrical capacity. These systems run about $15,650 to install, considering both materials and labor. You can find more specific solar cost information in the table.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,070 |
| Solar Polycrystalline | $835 |
| Thin-Film | $488 |
| Solar Battery | $685 |
| Solar Home EV Charger | $2,568 |
Financing Solar Energy in Oklahoma City
There are a plethora of ways to pay for a solar energy system, and the right one will minimize your overhead. A few of the most common options include loans, power purchase agreements (PPAs), leases, and cash payments. Most solar experts recommend paying cash or using a solar loan. Cash payments demand a large up-front sum, but they save you from paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Much like a home or auto loan, you'll pay a set monthly rate with potentially $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, much like an electric bill. Both options disqualify you for solar incentives and don't grant you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. We advise working with a contractor that offers multiple financing options. Speak with each consultant about what's available, and get more than one estimate for the best odds of keeping within 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 solar 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 |
|---|---|
| 1 kW | 2.3 years |
| 2 kW | 4.5 years |
| 5 kW | 11.3 years |
| 10 kW | 22.7 years |
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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 solar panels increase my Oklahoma City home price?
Could I still use solar power if I live in a dark, rainy, or wooded area?
How long is a Oklahoma City solar panel's average lifespan?
What care do my solar panels need, and how often do they need it?
What is "net metering," and how does it work?
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