Solar Panel Cost Guide in Marlow, OK (2024 Update)
- Marlow Solar Installation Cost: $18,074
- 25-Year Savings: $23,591
- Payback Period: 11.7 Years
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Average Cost of Solar Panels in Marlow
Find out what the average cost of solar panel installation is in Marlow.
In Marlow, solar panels cost about 3 per watt on average.The average solar panel system size in Marlow is around 8.2 kilowatts, meaning a cost of about $18,074 for a solar installation, or $25,846 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy use, the type of solar system you choose, your solar contractor and more.Many homeowners find adopting solar power is a sound investment. The average homeowner in Marlow can save around $18,000 on their electricity bills over 20 years.
To receive a free estimate from a highly rated solar installer in Marlow, you can click the button below.
Solar savings over time in Marlow
| Year | Return on Investment |
|---|---|
| 1 years | $-16,865 |
| 3 years | $-14,447 |
| 5 years | $-12,028 |
| 7 years | $-9,610 |
| 9 years | $-7,192 |
| 11 years | $-4,773 |
| 13 years | $-2,355 |
| 15 years | $63 |
| 17 years | $2,482 |
| 19 years | $4,900 |
| 21 years | $7,318 |
| 23 years | $9,736 |
| 25 years | $12,155 |
Top Solar Installers in Marlow
When making the switch to solar, many homeowners prefer to use a solar company since handling can be a difficult project. Solar warranties and repairs are usually included in the cost of installation when you hire a solar company too, which can save you more money over time.
If you're on the hunt for a solar company in Marlow, we've 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 Marlow
Factors that Affect Solar Panel Costs in Marlow
Although the average cost of a solar system in Marlow is $18,074, your final cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the solar system you need for your household, 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 nearly $3,130. The kind of solar panels and equipment you choose is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment is more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid route because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.When considering your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Marlow, and each can charge different amounts for labor and equipment.The size of the company can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down 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 | $14,490 | 12.1 years |
| 8 kW | $3.19 | $17,879 | $19,671 | 11.9 years |
| 10 kW | $3.13 | $21,910 | $25,027 | 11.7 years |
| 12 kW | $3.07 | $25,766 | $30,558 | 11.4 years |
| 14 kW | $3.00 | $29,447 | $36,265 | 11.2 years |
| 16 kW | $2.94 | $32,953 | $42,147 | 11.0 years |
| 18 kW | $2.88 | $36,283 | $48,204 | 10.7 years |
| 20 kW | $2.82 | $39,438 | $54,436 | 10.5 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Solar Panel Brands: The type of solar panel you need plays a part in which company you should opt for, since different companies have access to different panels.
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 Marlow, OK Solar Cost FAQs
What is the average cost of installing solar panels in Marlow?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $15,650 for a 5-kW system and $31,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Marlow?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
How will solar panels impact how much my home is worth?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses 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 home 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.