Solar Panel Cost Guide in McLoud, OK (2024 Update)
- McLoud Solar Installation Cost: $18,608
- 25-Year Savings: $22,656
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in McLoud
Let’s take a look at the average cost of solar in McLoud.
The average cost of a solar panel system in McLoud is 3 per watt.The average McLoud homeowner needs a 8.5-kilowatt system, which would cost about $18,608 with the federal tax credit, or $26,609 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of installing solar panels can vary depending on several factors, such as what size system you need, your energy consumption and what company you go with.But, after you've paid the initial cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $17,000 over 20 years on utility bills.
You can click the button below to get connected with a top solar company in McLoud for a quote for your home.
Solar savings over time in McLoud
| Year | Return on Investment |
|---|---|
| 1 years | $-17,399 |
| 3 years | $-14,980 |
| 5 years | $-12,562 |
| 7 years | $-10,144 |
| 9 years | $-7,725 |
| 11 years | $-5,307 |
| 13 years | $-2,889 |
| 15 years | $-470 |
| 17 years | $1,948 |
| 19 years | $4,366 |
| 21 years | $6,784 |
| 23 years | $9,203 |
| 25 years | $11,621 |
Top Solar Installers in McLoud
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Taking advantage of a solar company can make swapping over to solar power much easier. Because solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 McLoud
Factors that Affect Solar Panel Costs in McLoud
There are many criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,130. The kind of solar panels and equipment you get is another factor that will significantly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. 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 searching for a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in McLoud provide solar loans, which reduce the initial cost of installing solar panels.However, the interest on solar loans also adds to your overall costs, so it’s important to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you choose to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies in McLoud, and each can charge different amounts for labor and equipment.The company’s size sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and better 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 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 | $13,338 | 12.7 years |
| 8 kW | $3.19 | $17,879 | $18,134 | 12.4 years |
| 10 kW | $3.13 | $21,910 | $23,106 | 12.2 years |
| 12 kW | $3.07 | $25,766 | $28,253 | 11.9 years |
| 14 kW | $3.00 | $29,447 | $33,575 | 11.7 years |
| 16 kW | $2.94 | $32,953 | $39,073 | 11.4 years |
| 18 kW | $2.88 | $36,283 | $44,746 | 11.2 years |
| 20 kW | $2.82 | $39,438 | $50,594 | 11.0 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 brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: When looking over your solar company’s contract, ask for clarification 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.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely offer high-quality solar panel installation and expertise.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
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 McLoud, OK Solar Cost FAQs
How much does it cost to install solar panels in McLoud?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally 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 higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Are solar panels free in McLoud?
A solar panel system isn’t free in McLoud, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can solar panels completely eradicate my power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout McLoud, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily 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 get between 20 and 35 panels to cover 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.