Solar Panel Cost Guide in Hugo, OK (Feb 2023)
- Hugo Solar Installation Cost: $15,772
- 25-Year Savings: $26,412
- Payback Period: 9.3 Years
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Top Solar Installers in Hugo
Many homeowners decide to use a solar panel installer since figuring out how to install solar panels on your own can be a lot of work. The expertise that solar installers provide can be helpful as well, especially if you don't quite know what type of solar equipment you need.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some near you:
See all of the solar companies in Hugo
Factors that Affect Solar Panel Costs in Hugo
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Hugo: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
When it comes to estimating the cost 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 chiefly based on your home's energy consumption, which you can determine by looking at past energy bills. Your overall cost can increase by about $2,620 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Hugo, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Hugo homeowners opt to finance their solar panel systems to offset upfront costs. You'll have to consider the long-term cost of loans, including the total 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 more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installation company you pick will play a role in your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and find a 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
There are a large number of companies to choose from in Hugo, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- 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 most likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Warranty: If you're concerned about the longevity of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Different companies offer various brands and kinds of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
EcoWatch's Hugo, OK Solar Cost FAQs
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.