Top 5 Solar Companies in oklahoma

Below you’ll find the top solar companies in Oklahoma as ranked by us and reviewed by verified solar customers. To learn more about what goes into our “Best Rank” score for each company, visit our How We Rank page. For our full Oklahoma Solar Overview, keep reading:

Oklahoma Solar Overview

Although Oklahoma has invested a significant amount of resources in wind energy, the state has done little else in terms of solar power. A huge utility investment in 2017 and a comparable commercial solar installation the following year account for the majority of solar energy in the Sooner State; but the lack of solar-friendly policies and state-level incentives have hampered its residential solar market.

That said, recent years (2018–2020) have seen a marked increase in residential panel installations, Oklahoma still has far to go.

Read on to learn more about the ins and outs of going solar in Oklahoma.

Pros and Cons of Going Solar in Oklahoma

Here's an at-a-glance description of the current benefits and drawbacks of switching to solar in Oklahoma:

Benefits of Going Solar in Oklahoma:

  • High Residential Adoption in Recent Years
  • 30 Percent Federal Tax Credit
  • High Savings Potential

Drawbacks of Going Solar in Oklahoma:

  • No Lease or PPA
  • Weak Renewable Portfolio Standard
  • Cheap Utility Rates
  • Voluntary Net Metering
  • No Power Rebates
  • No Tax Credits or Exemptions

Cost of Solar in Oklahoma

The levelized cost of solar energy in Oklahoma is 5 cents per kilowatt-hour. Levelized cost is the quotient of total solar PV system costs and total energy output over 25 years. To provide some context, the levelized cost of traditional electricity in the state is 21 cents per kWh, which suggests that even without cost-mitigating incentives and policies, solar power is still a much less expensive alternative to traditional utilities in the long run.

As for upfront, dollars and cents costs, Oklahoma is on par with several of its neighboring states. A typical 5 kW system will go for about $20,000, which is a big number; but accounting for the federal solar tax credit (worth 30 percent of the bill), that number will be reduced to $14,000. This figure can be higher or lower depending on system capacity, the installation company, and other factors.

Oklahoma Solar Financing Options

Only two financing options are available to Oklahomans ready to transition to solar energy: cash purchase and solar loans. Regrettably, solar leases and power purchase agreements (PPA) are not currently available in the state. Although the savings potential of either are much smaller than the purchase and loan options, so is the long-term investment and liability.

Cash Purchase

As mentioned above, to buy a 5 kW system outright in Oklahoma, residents should expect to pay around $20,000, as well as receive a credit from the federal government worth 30 percent of the final cost (or in this case, $6,000).

Because electricity is so affordable in Oklahoma, the annual savings from solar energy will be smaller than in other states. In fact, in order to totally recoup the upfront costs, solar customers will need to wait close to 17 years. On the bright side, that leaves another seven or eight years (totalling the 25-year life span of the solar power system) of pure profit. After 25 years, customers will have netted more than $10,000 in income and the home value will have increased by a comparable average.

Solar Loan or HELOC

The other option is to finance the solar panel system through a third-party lender or by taking out a line of credit that borrows against the equity of your home (HELOC). In either case, qualified homeowners could secure a $20,000 loan with 15-year terms, zero down, and a 4 percent APR. And because financing a system through a lender is essentially the same as owning the system, you’ll still qualify for the federal solar tax credit!

With no money down, customers will begin saving immediately. In fact, the first year of operation will see the highest total savings of any of the 25 years of system operation: roughly $5,000. These savings will decrease during each year of the loan, and by year 15, customers will be in the hole by about $7,000. This is due in large part to loan payments being more expensive than monthly utility bills.

Thankfully, once the loan has been satisfied after 15 years, solar owners will begin to make some of their money back, breaking even at year 22, and scoring a net profit of just under $5,000 by year 25.

Oklahoma Solar Incentives

Unfortunately, Oklahoma has nothing to offer in terms of solar incentives. Apart from the federal solar tax credit, the solar installation projects in the state will receive nothing from either the state government or the utility company to help alleviate the significant upfront costs of making the switch to solar. This means no solar power rebates from the electric company, or tax credits or exemptions from the state.

Oklahoma Solar Policy Information

Oklahoma’s solar policies, meanwhile, are middling at best, and mostly voluntary. For example, its renewable portfolio standard, the minimum amount of energy from renewable sources like wind, solar, and natural gas, is only 15 percent by 2015. Not only is this goal drastically outdated, but it is also far from being met. With no monetary penalties in place for utility providers that fail to meet this standard, Oklahoma will likely remain in renewable energy limbo for years to come.

On a related note, the state’s net metering policy is also voluntary. Net metering, in most cases, requires utility providers to credit solar users for the surplus energy their systems contribute to the utility grid. But in Oklahoma, utility companies are under no obligation to purchase solar energy from customers. The state also lacks uniform interconnection rules.

Oklahoma Solar Statistics

Despite more than 1,000 residential, commercial, and utility solar installations throughout the state, Oklahoma is only producing enough solar energy (51 mW as of 2020) to power a little more than 6,000 homes. Twenty-two solar providers, installers, and manufacturers employing nearly 850 people currently operate within the state.

Interested in a solar quote? Check out the top-ranked solar companies in Oklahoma and read reviews from verified solar customers.