Solar Panel Cost Guide in Hugo, OK (2024 Update)
- Hugo Solar Installation Cost: $18,836
- 25-Year Savings: $26,418
- Payback Period: 11.2 Years
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Average Cost of Solar Panels in Hugo
We go over average solar pricing in Hugo.
The average cost of solar panels in Hugo is 3 per watt.The average Hugo homeowner needs a 8.6-kilowatt system, which would cost about $18,836 with the federal tax credit, or $26,935 before the 0 tax credit is applied.
The actual price you pay can go above or below the average in Hugo depending on several factors, such as the kind of solar panels you choose and the solar installer you hire.Even with the significant upfront cost, the average Hugo homeowner can save about $19,000 on their electricity bills over 20 years, which is one of the positives of solar.
To receive a free estimate from a pre-vetted solar installation company in Hugo, you can click the button below.
Solar savings over time in Hugo
| Year | Return on Investment |
|---|---|
| 1 years | $-17,598 |
| 3 years | $-15,123 |
| 5 years | $-12,648 |
| 7 years | $-10,173 |
| 9 years | $-7,698 |
| 11 years | $-5,223 |
| 13 years | $-2,749 |
| 15 years | $-274 |
| 17 years | $2,201 |
| 19 years | $4,676 |
| 21 years | $7,151 |
| 23 years | $9,626 |
| 25 years | $12,101 |
Top Solar Installers in Hugo
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar panel installer can make swapping over to solar power much easier. Local solar companies can also help you maximize your return on investment by walking you through any local incentives and by providing warranties and repairs.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:
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 Hugo
Factors that Affect Solar Panel Costs in Hugo
For many Hugo homeowners, the decision to install a solar energy system 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 greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Hugo, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can determine by looking at past energy bills. Your total cost can increase by about $3,130 for each additional kilowatt you need.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get 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 power bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Hugo average.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Hugo homeowners decide to finance their solar panel systems to make paying for solar more affordable.While solar loans make switching to solar energy more accessible for Hugo homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The last significant cost factor you should consider is the installer you choose. Given the massive popularity of sustainable energy solutions in Hugo, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $15,769 | 11.6 years |
| 8 kW | $3.19 | $17,879 | $21,377 | 11.4 years |
| 10 kW | $3.13 | $21,910 | $27,159 | 11.2 years |
| 12 kW | $3.07 | $25,766 | $33,116 | 10.9 years |
| 14 kW | $3.00 | $29,447 | $39,249 | 10.7 years |
| 16 kW | $2.94 | $32,953 | $45,558 | 10.5 years |
| 18 kW | $2.88 | $36,283 | $52,041 | 10.3 years |
| 20 kW | $2.82 | $39,438 | $58,700 | 10.0 years |
How to Save on Solar Panels
The solar company you opt for will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, such as:
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and how long the project will take.
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, completion timeline rebates and warranties.
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 Hugo, OK Solar Cost FAQs
How much does it cost to install solar panels in Hugo?
The average cost of solar panels in Hugo is about $15,650 for a 5-kW system and $31,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Hugo?
You can’t get solar panels for free in Hugo. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
How much can I save on energy bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Hugo, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.