Solar Panel Cost Guide in Collinsville, OK (Mar 2023)
- Collinsville Solar Installation Cost: $15,956
- 25-Year Savings: $23,977
- Payback Period: 10.0 Years
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Updated March 14, 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 Collinsville homeowner needs a 8.7-kilowatt system, which would cost about $15,956 with the federal tax credit, or $22,817 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Collinsville homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. With average savings of about $17,000 on energy bills over 20 years, many homeowners in Collinsville find installing solar panels can be quite rewarding.
Click the button below to get connected to a vetted solar company in Collinsville for a custom estimate.
Solar savings over time in Collinsville
| Year | Return on Investment |
|---|---|
| 1 years | $-14,358 |
| 3 years | $-11,164 |
| 5 years | $-7,969 |
| 7 years | $-4,775 |
| 9 years | $-1,580 |
| 11 years | $1,615 |
| 13 years | $4,809 |
| 15 years | $8,004 |
| 17 years | $11,198 |
| 19 years | $14,393 |
| 21 years | $17,588 |
| 23 years | $20,782 |
| 25 years | $23,977 |
Top Solar Installers in Collinsville
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Hiring an installer can make swapping over to solar power much easier. Local solar installers can also help you optimize your return on investment by assisting with any local incentives you can benefit from and by providing warranties and repairs.
There are various 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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Collinsville
Factors that Affect Solar Panel Costs in Collinsville
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few key factors that affect your total cost in Collinsville: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly 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. Because of that, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The 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. However, higher efficiency could save you more in the long run on your energy bills. Additionally, extra products, like solar batteries, can bump up your total well above the Collinsville average.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Collinsville homeowners decide to finance their solar panel systems to offset upfront costs. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to 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 securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Collinsville, you'll have many options to choose from, but each comes at varying price points for labor and equipment. The size of the company can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger 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 | $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
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Solar Panel Brands: The kind of solar panel you'd like to get plays a part in which installer you should go with, since different companies provide different panels.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Is it better to 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 way to go if you want to maximize your savings.
Is making the switch to solar worth it?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can 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 account for 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.