Solar Panel Cost Guide in Lone Grove, OK (2024 Update)
- Lone Grove Solar Installation Cost: $18,328
- 25-Year Savings: $23,232
- Payback Period: 11.9 Years
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Average Cost of Solar Panels in Lone Grove
We go over average solar pricing in Lone Grove.
The average cost of solar panels in Lone Grove is 3 per watt.To account for the typical energy usage of the average home in Lone Grove, most homeowners require a 8.4-kilowatt system. Using the figure above, a solar installation costs about $18,328, or $26,209 before the federal solar tax credit of 0 is applied.
How much you pay can go above or below the average in Lone Grove based on a variety of factors, such as the brand of solar panels you choose and the solar company you hire.Many homeowners find going solar is a solid investment. The average homeowner in Lone Grove can save about $18,000 on their energy bills over 20 years.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Lone Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-17,119 |
| 3 years | $-14,700 |
| 5 years | $-12,282 |
| 7 years | $-9,864 |
| 9 years | $-7,446 |
| 11 years | $-5,027 |
| 13 years | $-2,609 |
| 15 years | $-191 |
| 17 years | $2,228 |
| 19 years | $4,646 |
| 21 years | $7,064 |
| 23 years | $9,482 |
| 25 years | $11,901 |
Top Solar Installers in Lone Grove
Although it's possible to install solar panels on your own, it takes extra labor and handiness. That's one of the reasons most homeowners choose to hire a solar panel installer. Plus, if you aren’t sure what type of solar panels and equipment you need, a solar installer can help you find the right equipment for you after a site survey and consultation.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some in Lone Grove:
See all of the solar companies in Lone Grove
Factors that Affect Solar Panel Costs in Lone Grove
While the average cost of a solar system in Lone Grove is $18,328, your actual cost may be above or below the average. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar 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 about $3,130. There are several different solar panel brands and the one you choose also affects the cost. Generally, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Lone Grove to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest.However, the interest on solar loans also increases your all-in costs, so it’s vital to consider that 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
Finally, the company you opt for to install your solar panels can play a part in determining the cost. Lone Grove’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $13,996 | 12.4 years |
| 8 kW | $3.19 | $17,879 | $19,012 | 12.1 years |
| 10 kW | $3.13 | $21,910 | $24,203 | 11.9 years |
| 12 kW | $3.07 | $25,766 | $29,569 | 11.6 years |
| 14 kW | $3.00 | $29,447 | $35,111 | 11.4 years |
| 16 kW | $2.94 | $32,953 | $40,828 | 11.2 years |
| 18 kW | $2.88 | $36,283 | $46,720 | 10.9 years |
| 20 kW | $2.82 | $39,438 | $52,787 | 10.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: When looking over your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- 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 significant role in the company you go with.
- Warranty: If you’re concerned about the endurance of your solar energy system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
EcoWatch's Lone Grove, OK Solar Cost FAQs
How much does it cost to install solar panels in Lone Grove?
The average cost of solar panels in Lone Grove is about $15,650 for a 5-kW system and $31,300 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Lone Grove?
A solar panel system isn’t free in Lone Grove, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Do solar panels increase your home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lone Grove is currently $208,301, which means you could be looking at a value of about $8,540 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Lone Grove is a rewarding investment.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.