Solar Panel Cost Guide in Collinsville, OK (2024 Update)
- Collinsville Solar Installation Cost: $19,071
- 25-Year Savings: $23,969
- Payback Period: 11.9 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Collinsville
Find out how much it might cost to switch to solar power in Collinsville.
In Collinsville, solar panels cost about 3 per watt on average.Using this figure, a typical 8.7-kW system would cost about $19,071 before the 0 federal solar tax credit is applied.
How much you pay can go higher or lower than the average in Collinsville based on a few factors, such as the kind of solar panels you choose and the solar contractor you hire.With typical savings of about $17,000 on electricity bills over 20 years, many homeowners in Collinsville find investing in solar can be quite rewarding.
Click the button below to get connected to a vetted solar company in your area for a custom quote.
Solar savings over time in Collinsville
Year | Return on Investment |
---|---|
1 years | $-17,834 |
3 years | $-15,359 |
5 years | $-12,884 |
7 years | $-10,409 |
9 years | $-7,934 |
11 years | $-5,459 |
13 years | $-2,984 |
15 years | $-509 |
17 years | $1,966 |
19 years | $4,441 |
21 years | $6,916 |
23 years | $9,391 |
25 years | $11,866 |
Top Solar Installers in Collinsville
Although it's possible to install solar panels by yourself, it takes extra effort and expertise. That's one of the reasons most people choose to hire a solar panel installer. Another great thing about going with a reputable solar installer is that it'll provide warranties and free repairs, which help protect your solar system over time.
If you’d like to switch to solar energy but still aren’t certain which solar company to go with, here are our suggestions for providers in Collinsville:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Collinsville
Factors that Affect Solar Panel Costs in Collinsville
While the average cost of a solar system in Collinsville is $19,071, your final cost may differ. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,130. The solar equipment you choose can bring your price up or down 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. However, higher efficiency could save you more over time on your electric bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Collinsville average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are available from most installers in Collinsville, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can affect your pricing. Collinsville’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to 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 | $13,854 | 12.4 years |
8 kW | $3.19 | $17,879 | $18,823 | 12.2 years |
10 kW | $3.13 | $21,910 | $23,966 | 11.9 years |
12 kW | $3.07 | $25,766 | $29,285 | 11.7 years |
14 kW | $3.00 | $29,447 | $34,780 | 11.5 years |
16 kW | $2.94 | $32,953 | $40,449 | 11.2 years |
18 kW | $2.88 | $36,283 | $46,294 | 11.0 years |
20 kW | $2.82 | $39,438 | $52,315 | 10.7 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose greatly impacts your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: If you’re concerned about the endurance of your solar panel system, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: Before signing a contract with a solar company, make sure to read it through completely so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Collinsville, OK Solar Cost FAQs
What is the average cost of installing solar panels in Collinsville?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $15,650 for a 5-kW system and $31,300 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 above-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Collinsville?
Leasing solar panels can be an attractive choice, as it often 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Can solar panels significantly reduce my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located 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 $917.53 per year.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home requires 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.