Solar Panel Cost Guide in Alva, OK (2023 Update)
- Alva Solar Installation Cost: $15,234
- 25-Year Savings: $20,856
- Payback Period: 10.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Alva
Let's take a look at the average cost of solar panels in Alva.
Although the national average of solar panels is $2.66 per watt, solar panels in Alva generally cost about 2.62. To account for the typical energy needs of the average home in Alva, most homeowners require a 8.3-kilowatt system. Using the figure above, a solar installation costs about $15,241, or $21,795 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Alva homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find installing solar panels is a rewarding investment. The average homeowner in Alva can save around $17,000 on their power bills over 20 years.
Click the button below to get connected to a top solar company in your area for a customized quote.
Solar savings over time in Alva
| Year | Return on Investment |
|---|---|
| 1 years | $-15,113 |
| 3 years | $-14,873 |
| 5 years | $-14,632 |
| 7 years | $-14,391 |
| 9 years | $-14,151 |
| 11 years | $-13,910 |
| 13 years | $-13,670 |
| 15 years | $-13,429 |
| 17 years | $-13,188 |
| 19 years | $-12,948 |
| 21 years | $-12,707 |
| 23 years | $-12,467 |
| 25 years | $-12,226 |
Top Solar Installers in Alva
Installing solar panels on your own can be a dangerous task, which is why hiring a solar installation company is a good option for many homeowners. The expertise that solar companies provide can be useful as well, particularly if you don't quite know what kind of solar equipment would be right for your home.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Alva
Factors that Affect Solar Panel Costs in Alva
There are several factors that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy 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 about $2,620 per kilowatt in Alva. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get 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, higher efficiency could save you more over time on your power bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Alva average.
Solar Financing Terms
Many homeowners find the average cost of solar in Alva to be too steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you go with to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies in Alva, and each can charge varying amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies keep up 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 car 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 | $2.72 | $11,444 | $14,625 | 11.0 years |
| 8 kW | $2.67 | $14,965 | $19,793 | 10.8 years |
| 10 kW | $2.62 | $18,340 | $25,109 | 10.6 years |
| 12 kW | $2.57 | $21,568 | $30,570 | 10.3 years |
| 14 kW | $2.52 | $24,649 | $36,179 | 10.1 years |
| 16 kW | $2.46 | $27,583 | $41,934 | 9.9 years |
| 18 kW | $2.41 | $30,371 | $47,836 | 9.7 years |
| 20 kW | $2.36 | $33,012 | $53,885 | 9.5 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Solar Panel Brands: The model of solar panel you'd like to install plays a role in which installer you should go with, since different companies provide 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 Alva, OK Solar Cost FAQs
How much does it cost to install solar panels in Alva?
This is a difficult question to answer precisely, because the cost depends on many factors. Broadly 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 consumption. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $868.97 per year.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.