Solar Panel Cost Guide in Nichols Hills, OK (2024 Update)
- Nichols Hills Solar Installation Cost: $18,479
- 25-Year Savings: $21,344
- Payback Period: 12.5 Years
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Average Cost of Solar Panels in Nichols Hills
We go over average solar pricing in Nichols Hills.
Although the national average of solar panels is $2.66 per watt, solar panels in Nichols Hills generally cost about 3.To cover the typical energy usage of the average home in Nichols Hills, most homeowners require a 8.4-kilowatt system. Using the figure above, a solar installation costs about $18,479, or $26,425 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of installing solar panels can vary quite a bit depending on several factors, such as how many panels you need, your energy usage and what solar installer you go with.With average savings of about $17,000 on utility bills over 20 years, many homeowners in Nichols Hills find investing in solar has a decent ROI.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Nichols Hills
| Year | Return on Investment |
|---|---|
| 1 years | $-17,270 |
| 3 years | $-14,852 |
| 5 years | $-12,434 |
| 7 years | $-10,015 |
| 9 years | $-7,597 |
| 11 years | $-5,179 |
| 13 years | $-2,760 |
| 15 years | $-342 |
| 17 years | $2,076 |
| 19 years | $4,495 |
| 21 years | $6,913 |
| 23 years | $9,331 |
| 25 years | $11,749 |
Top Solar Installers in Nichols Hills
Many homeowners opt for a solar panel installer since trying to install solar panels on your own can be time-consuming. Because solar panels are exposed to temperature swings and extreme weather, 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.
If you’d like to go solar but still aren’t sure which solar panel installer to go with, here are our suggestions for providers in Nichols Hills:
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 Nichols Hills
Factors that Affect Solar Panel Costs in Nichols Hills
There are several criteria that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,130.The brand of solar panels and equipment you want is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on 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’s in your budget.
Solar Financing Terms
Most solar installers in Nichols Hills offer solar loans, which reduce your upfront costs of installing a solar system.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar panel installation company you pick will influence your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor.You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $12,516 | 13.1 years |
| 8 kW | $3.19 | $17,879 | $17,039 | 12.8 years |
| 10 kW | $3.13 | $21,910 | $21,737 | 12.5 years |
| 12 kW | $3.07 | $25,766 | $26,610 | 12.3 years |
| 14 kW | $3.00 | $29,447 | $31,659 | 12.0 years |
| 16 kW | $2.94 | $32,953 | $36,882 | 11.8 years |
| 18 kW | $2.88 | $36,283 | $42,281 | 11.5 years |
| 20 kW | $2.82 | $39,438 | $47,856 | 11.3 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
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 Nichols Hills, OK Solar Cost FAQs
How much does it cost to install solar panels in Nichols Hills?
This is a difficult question to answer exactly, because the cost depends on many 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 want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Nichols Hills?
Leasing solar panels can be an appealing choice, as it usually 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Is going solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How many solar panels should I get to power my home?
To figure out what solar panel system size 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 typically 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.