Solar Panel Cost Guide in Hugo, OK (2023 Update)
- Hugo Solar Installation Cost: $15,767
- 25-Year Savings: $26,418
- Payback Period: 9.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hugo
Let's have a look at the average cost of solar in Hugo.
The national average cost of solar panels is $2.66 per watt, but in Hugo it's 2.62 per watt. Using this figure, a typical 8.6-kW system would cost about $15,772 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of installing solar panels can vary based on multiple factors, such as how many panels you need, your energy consumption and what installation company you go with. Many homeowners find going solar is a sound investment. The average homeowner in Hugo can save around $19,000 on their power bills over 20 years.
Click the button below to get connected to a reputable solar installer in Hugo for a personalized quote.
Solar savings over time in Hugo
| Year | Return on Investment |
|---|---|
| 1 years | $-14,529 |
| 3 years | $-12,054 |
| 5 years | $-9,579 |
| 7 years | $-7,104 |
| 9 years | $-4,629 |
| 11 years | $-2,154 |
| 13 years | $321 |
| 15 years | $2,796 |
| 17 years | $5,271 |
| 19 years | $7,746 |
| 21 years | $10,221 |
| 23 years | $12,696 |
| 25 years | $15,171 |
Top Solar Installers in Hugo
When switching to solar energy, many homeowners opt to go with a solar company since DIY solar panel installation can be a time-consuming project. A solar installer can also help save you money in the long run by offering warranties, repairs and system component replacements.
If you're searching for a solar company in Hugo, the EcoWatch team has 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 Hugo
Factors that Affect Solar Panel Costs in Hugo
For many Hugo homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Hugo, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Hugo, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can determine by looking at past power bills. Your total cost can increase by around $2,620 for each additional kilowatt you need. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a solid choice because they cut back your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also increases your total costs, so it's vital to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you select will influence your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the company that provides the products, warranties and services you want and also is within your budget.
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 | $17,997 | 9.7 years |
| 8 kW | $2.67 | $14,965 | $24,290 | 9.5 years |
| 10 kW | $2.62 | $18,340 | $30,729 | 9.3 years |
| 12 kW | $2.57 | $21,568 | $37,315 | 9.2 years |
| 14 kW | $2.52 | $24,649 | $44,047 | 9.0 years |
| 16 kW | $2.46 | $27,583 | $50,927 | 8.8 years |
| 18 kW | $2.41 | $30,371 | $57,953 | 8.6 years |
| 20 kW | $2.36 | $33,012 | $65,126 | 8.4 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, 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 clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer's reputation is by reading reviews.
- Contract: Read the contract terms thoroughly to make sure you understand the total cost, project completion timeline rebates and warranties.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
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 Hugo, OK Solar Cost FAQs
What is the average cost of installing solar panels in Hugo?
The average cost of solar panels in Hugo 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.
What other factors should I consider apart from cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Hugo?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs 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 install 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.