Without a strong Renewable Portfolio Standard (RPS), Oklahoma does not have any notable state-based incentives or rebates. However, solar customers can still save thousands of dollars thanks to the federal tax incentive available to them.
Federal Incentives
Oklahoma residents are eligible for the federal solar tax credit, which allows them to deduct up to 30% of their solar panel system’s cost from their income taxes. The result is a 30% reduction in the net cost of the system, leading to a shorter payback period. The solar investment tax credit is available to U.S. residents until 2032.
Statewide Incentives
The only state-mandated solar policy incentive in Oklahoma is net metering. It allows solar panel owners to send excess power from their solar panels into the grid in exchange for energy credits. These credits can be used to buy grid energy during the night or on cloudy days. All the major utility companies in Oklahoma offer net metering.
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