Solar Panel Cost Guide in Collinsville, OK (2023 Update)
- Collinsville Solar Installation Cost: $15,964
- 25-Year Savings: $23,969
- Payback Period: 10.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Collinsville
Find out what the average cost of solar panels are in Collinsville.
In Collinsville, solar panels cost about 2.62 per watt on average. The average solar panel system size in Collinsville is around 8.7 kilowatts, meaning a cost of about $15,956 for a solar installation, or $22,817 before the 30% 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 model of solar panels you choose and the solar installer you hire. For many homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $17,000 in savings on electricity bills over 20 years.
To receive a free quote from a pre-vetted solar company in Collinsville, you can click the button below.
Solar savings over time in Collinsville
| Year | Return on Investment |
|---|---|
| 1 years | $-15,831 |
| 3 years | $-15,565 |
| 5 years | $-15,298 |
| 7 years | $-15,032 |
| 9 years | $-14,766 |
| 11 years | $-14,500 |
| 13 years | $-14,233 |
| 15 years | $-13,967 |
| 17 years | $-13,701 |
| 19 years | $-13,435 |
| 21 years | $-13,169 |
| 23 years | $-12,902 |
| 25 years | $-12,636 |
Top Solar Installers in Collinsville
Many homeowners opt for a solar panel installer since trying to put up solar panels by yourself can be challenging. Another perk of utilizing a solar installer is that they can help you optimize your return of investment by cutting back on future costs of repairs and replacements with the help of warranties and informing you of local incentives you can take advantage of.
If you're searching for a solar installer in Collinsville, we've organized 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 Collinsville
Factors that Affect Solar Panel Costs in Collinsville
For many Collinsville homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Collinsville, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The 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. However, higher efficiency could save you more in the long run on your electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the Collinsville average.
Solar Financing Terms
Most solar installers in Collinsville provide solar loans, which reduce your upfront costs of installing solar panels. When estimating 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
The solar installation company you pick will affect your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor. 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 add-on 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 | $16,082 | 10.4 years |
| 8 kW | $2.67 | $14,965 | $21,736 | 10.2 years |
| 10 kW | $2.62 | $18,340 | $27,536 | 10.0 years |
| 12 kW | $2.57 | $21,568 | $33,484 | 9.8 years |
| 14 kW | $2.52 | $24,649 | $39,578 | 9.6 years |
| 16 kW | $2.46 | $27,583 | $45,819 | 9.4 years |
| 18 kW | $2.41 | $30,371 | $52,206 | 9.2 years |
| 20 kW | $2.36 | $33,012 | $58,741 | 9.0 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 choosing a company can be difficult, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
- Warranty: Warranties that provide coverage for defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a good company.
- Solar Panel Brands: Different companies will carry various brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Contract: Read the contract terms carefully to make sure you understand the total cost, project completion timeline rebates and warranties.
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?
The average cost of solar panels in Collinsville is about $13,100 for a 5-kW system and $26,200 for a 10-kW system before the ITC, but the actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How will solar panels impact my home value?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.