Solar Panel Cost Guide in Hominy, OK (Dec 2022)

  • Hominy Solar Installation Cost: $15,827
  • 25-Year Savings: $22,165
  • Payback Period: 10.4 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Hominy

Let's have a look at the average cost of solar panels in Hominy.

In Hominy, solar panels cost about $3 per watt on average. The average solar panel system size in Hominy is around 8.6 kilowatts, meaning a cost of about $15,827 for a solar installation, or $11,712 after the 30% federal solar tax credit is applied.

Bear in mind that the figures above are only estimates based on the average energy use of Hominy homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. With average savings of about $17,000 on energy bills over 20 years, many homeowners in Hominy find installing solar panels has a decent ROI.

Click the button below to get connected to a highly rated solar panel company in Hominy for a customized quote.

Solar savings over time in Hominy

Year Return on Investment
1 years $-14,308
3 years $-11,268
5 years $-8,229
7 years $-5,190
9 years $-2,150
11 years $889
13 years $3,929
15 years $6,968
17 years $10,007
19 years $13,047
21 years $16,086
23 years $19,126
25 years $22,165

Top Solar Installers in Hominy

Trying to install solar panels by yourself can be a challenging task, which is why using a solar installation company is a good option for many homeowners. Also, companies with a good reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.

You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • 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

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

See all of the solar companies in Hominy

Factors that Affect Solar Panel Costs in Hominy

For many Hominy homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Hominy, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.

Solar Equipment

The size of the solar energy 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, your total will most likely increase by about $2,620. The kind of solar panels and equipment you choose is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.

Solar Financing Terms

Most solar installers in Hominy have solar loans, which reduce your upfront costs of installing solar panels. However, the interest on solar loans also increases your total costs, so it's important to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.

Solar Panel Installation Company

The solar panel installation company you select will influence your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Larger national companies usually have lower costs, but some local companies compete 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 $14,970 10.8 years
8 kW $2.67 $14,965 $20,253 10.6 years
10 kW $2.62 $18,340 $25,683 10.4 years
12 kW $2.57 $21,568 $31,260 10.2 years
14 kW $2.52 $24,649 $36,983 10.0 years
16 kW $2.46 $27,583 $42,853 9.8 years
18 kW $2.41 $30,371 $48,870 9.6 years
20 kW $2.36 $33,012 $55,034 9.4 years

How to Save on Solar Panels

Since the brand of solar panels and the company you choose significantly influences your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:

  • Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
  • Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project timeline.
  • Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
  • Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • 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

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Hominy, OK Solar Cost FAQs

What is the average cost of installing solar panels in Hominy?

The average cost of solar panels in Hominy is about $13,100 for a 5-kW system and $26,200 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.

Are solar panels free in Hominy?

You can't get solar panels for free in Hominy. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.

Is it worth going solar in Hominy?

Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.

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 decreases 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.

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