Solar Panel Cost Guide in Altus, OK (2023 Update)
- Altus Solar Installation Cost: $14,635
- 25-Year Savings: $30,390
- Payback Period: 8.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Altus
See how much it might cost to go solar in Altus.
In Altus, solar panels cost about 2.62 per watt on average. Using this figure, a typical 8.0-kW system would cost about $14,635 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of solar system you want to get, your solar contractor and more. Even with the significant initial cost, the average Altus homeowner can save around $21,000 on their energy bills over 20 years, which is one of the positives of solar.
To get a free quote from a vetted solar installer in Altus, you can click the button below.
Solar savings over time in Altus
| Year | Return on Investment |
|---|---|
| 1 years | $-12,834 |
| 3 years | $-9,232 |
| 5 years | $-5,630 |
| 7 years | $-2,028 |
| 9 years | $1,574 |
| 11 years | $5,176 |
| 13 years | $8,778 |
| 15 years | $12,380 |
| 17 years | $15,982 |
| 19 years | $19,584 |
| 21 years | $23,186 |
| 23 years | $26,788 |
| 25 years | $30,390 |
Top Solar Installers in Altus
Many homeowners decide to hire a solar installation company since trying to put up solar panels yourself can be hard. A solar installer can also help save you money over time by providing warranties, repairs and part replacements.
If you're looking for a solar company in Altus, the EcoWatch team has organized a list of our top suggestions here:
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Altus
Factors that Affect Solar Panel Costs in Altus
For many Altus homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Altus, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $2,620 per kilowatt in Altus. The brand of solar panels and equipment you get is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Moreover, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are provided by most installers in Altus, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you get to install your solar panels can impact how much you pay. Altus' solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.72 | $11,444 | $22,407 | 8.5 years |
| 8 kW | $2.67 | $14,965 | $30,169 | 8.3 years |
| 10 kW | $2.62 | $18,340 | $38,078 | 8.1 years |
| 12 kW | $2.57 | $21,568 | $46,134 | 8.0 years |
| 14 kW | $2.52 | $24,649 | $54,337 | 7.8 years |
| 16 kW | $2.46 | $27,583 | $62,686 | 7.6 years |
| 18 kW | $2.41 | $30,371 | $71,182 | 7.5 years |
| 20 kW | $2.36 | $33,012 | $79,825 | 7.3 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for a long time and save you money on part replacement and repairs.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Altus, OK Solar Cost FAQs
What is the average cost of installing solar panels in Altus?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $13,100 for a 5-kW system and $26,200 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Altus?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,128.37 per year.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.