Solar Panel Cost Guide in Oklahoma City, OK (2024 Update)
- Oklahoma City Solar Installation Cost: $18,445
- 25-Year Savings: $22,329
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in Oklahoma City
Let’s have a look at the average cost of solar panels in Oklahoma City.
The average cost of a solar system in Oklahoma City is 3 per watt.The average Oklahoma City homeowner needs a 8.4-kilowatt system, which would cost about $18,445 with the federal tax credit, or $26,376 before the 0 tax credit is applied.
These figures are just averages, and your own solar costs will vary based on factors unique to your home and what company you want to go with.But, once you've paid the initial cost of installation, the ROI for most homeowners is quite fruitful, with a net average savings of about $17,000 over 20 years on utility bills.
To get a free quote from a top solar company in Oklahoma City, you can click the button below.
Solar savings over time in Oklahoma City
| Year | Return on Investment |
|---|---|
| 1 years | $-17,236 |
| 3 years | $-14,818 |
| 5 years | $-12,400 |
| 7 years | $-9,981 |
| 9 years | $-7,563 |
| 11 years | $-5,145 |
| 13 years | $-2,726 |
| 15 years | $-308 |
| 17 years | $2,110 |
| 19 years | $4,529 |
| 21 years | $6,947 |
| 23 years | $9,365 |
| 25 years | $11,783 |
Top Solar Installers in Oklahoma City
When making the switch to solar, many homeowners prefer to hire a solar installer since putting up solar panels yourself can be a difficult project. Local solar installers can also help you optimize your return on investment by walking you through any local incentives you can benefit from and by providing warranties and repairs.
If you're looking for a solar installer in Oklahoma City, we've put together a list of our top suggestions here:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Oklahoma City
Factors that Affect Solar Panel Costs in Oklahoma City
Even though the average cost of a solar system in Oklahoma City is $18,445, your actual cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,130.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your energy bills. In addition, extra products, such as solar batteries, can bump up your total well above the Oklahoma City average.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid choice because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Oklahoma City, and each can charge different amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.26 | $13,672 | $13,246 | 12.7 years |
| 8 kW | $3.19 | $17,879 | $18,011 | 12.5 years |
| 10 kW | $3.13 | $21,910 | $22,953 | 12.2 years |
| 12 kW | $3.07 | $25,766 | $28,069 | 12.0 years |
| 14 kW | $3.00 | $29,447 | $33,361 | 11.7 years |
| 16 kW | $2.94 | $32,953 | $38,827 | 11.5 years |
| 18 kW | $2.88 | $36,283 | $44,470 | 11.2 years |
| 20 kW | $2.82 | $39,438 | $50,287 | 11.0 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Oklahoma City, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Before you sign a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project timeline.
- Solar Panel Brands: The type of solar panel you’d like to get plays a part in which installer you should opt for, since different companies offer different panels.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Oklahoma City, OK Solar Cost FAQs
What is the average cost of installing solar panels in Oklahoma City?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $15,650 for a 5-kW system and $31,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Oklahoma City?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Do solar panels increase your home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Oklahoma City is currently $318,160, so you could be looking at a value of about $13,045 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Oklahoma City is a fruitful investment.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.