Solar Panel Cost Guide in Elk City, OK (2024 Update)
- Elk City Solar Installation Cost: $17,643
- 25-Year Savings: $29,947
- Payback Period: 9.9 Years
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Average Cost of Solar Panels in Elk City
Find out what the average cost of installing solar panels is in Elk City.
While the national average of solar panels is $2.66 per watt, solar panels in Elk City generally cost about 3.The average solar panel system size in Elk City is around 8.1 kilowatts, meaning a cost of about $17,643 for a solar installation, or $25,229 before the 0 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, your solar contractor and more.For most homeowners, the upfront cost of solar is worth paying. On average Elk City homeowners see about $21,000 in savings on electricity bills over 20 years.
To get a free quote from a pre-vetted solar company in Elk City, you can click the button below.
Solar savings over time in Elk City
| Year | Return on Investment |
|---|---|
| 1 years | $-16,405 |
| 3 years | $-13,930 |
| 5 years | $-11,455 |
| 7 years | $-8,980 |
| 9 years | $-6,505 |
| 11 years | $-4,031 |
| 13 years | $-1,556 |
| 15 years | $919 |
| 17 years | $3,394 |
| 19 years | $5,869 |
| 21 years | $8,344 |
| 23 years | $10,819 |
| 25 years | $13,294 |
Top Solar Installers in Elk City
Installing solar panels yourself can be a challenging undertaking, which is why getting a solar installer is a good option for many homeowners. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance over the lifespan of your panels.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Elk City
Factors that Affect Solar Panel Costs in Elk City
While the average cost of a solar system in Elk City is $17,643, your actual cost may be above or below the average. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $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 choose 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 in the long run on your electric bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Elk City average.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a solid choice because they reduce your upfront costs and let you pay for your system over five to seven years on average.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 more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you select will play a role in your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.Larger national companies typically have lower costs, but some local companies compete with 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 | $3.26 | $13,672 | $19,646 | 10.3 years |
| 8 kW | $3.19 | $17,879 | $26,545 | 10.1 years |
| 10 kW | $3.13 | $21,910 | $33,619 | 9.9 years |
| 12 kW | $3.07 | $25,766 | $40,869 | 9.7 years |
| 14 kW | $3.00 | $29,447 | $48,294 | 9.5 years |
| 16 kW | $2.94 | $32,953 | $55,894 | 9.3 years |
| 18 kW | $2.88 | $36,283 | $63,669 | 9.1 years |
| 20 kW | $2.82 | $39,438 | $71,620 | 8.9 years |
How to Save on Solar Panels
There are many companies to choose from in Elk City, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: When going solar, it’s essential to maintain an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the completion timeline.
- Contract: Even though reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
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 Elk City, OK Solar Cost FAQs
How much does it cost to install solar panels in Elk City?
This is a hard question to answer exactly, because the cost depends on many factors. Generally 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 usage. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost 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.
Can you sell solar power back to the grid in Elk City?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.