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

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated June 24, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Nichols Hills

We go over average solar pricing in Nichols Hills.

The average cost of solar panels in Nichols Hills is 3 per watt.Using this figure, a typical 8.4-kW system would cost about $18,479 before the 0 federal solar tax credit is applied.

The actual price you pay can be higher or lower than the average in Nichols Hills based on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire.For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Nichols Hills see about $17,000 in savings on energy bills over 20 years.

You can click the button below to get connected with a pre-vetted solar installer in Nichols Hills that can help you get a more accurate cost estimate for your home.

Solar savings over time in Nichols Hills

YearReturn 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

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Using a solar panel installer can make switching to solar power much easier. Solar warranties and repairs are usually included in the cost of installation when you hire a solar contractor too, which can save you more money over time.

If you’d like to start using solar energy but still aren’t certain which solar installer to go with, here are our suggestions for providers near you:

Best National Provider

SunPower

★★★★★
5.0
  • 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

★★★★★
3.2
  • 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 many factors that can play into 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

One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $3,130 per kilowatt in Nichols Hills.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your power bills. Additionally, extra products, like solar batteries, can bring your total well above the Nichols Hills average.

Solar Financing Terms

Many homeowners find the average cost of solar in Nichols Hills to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.

Solar Panel Installation Company

The solar installer you hire to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies in Nichols Hills, and each can charge varying amounts for labor and equipment.The company’s size can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more resources and better 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 discount can bring their pricing lower to compete with bigger names.

Solar Panel Cost Data by System Size

System sizeCost per system wattSolar system cost25-Year savingsPayback period
6 kW$3.26$13,672$12,51613.1 years
8 kW$3.19$17,879$17,03912.8 years
10 kW$3.13$21,910$21,73712.5 years
12 kW$3.07$25,766$26,61012.3 years
14 kW$3.00$29,447$31,65912.0 years
16 kW$2.94$32,953$36,88211.8 years
18 kW$2.88$36,283$42,28111.5 years
20 kW$2.82$39,438$47,85611.3 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 pick the right company for you, here are some tips to keep in mind:

  • Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
  • Warranty: If you’re concerned about the longevity of your solar system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
  • Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project timeline.

Best National Provider

SunPower

★★★★★
5.0
  • 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

★★★★★
3.2
  • 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. 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.

Should I lease or buy solar panels in Nichols Hills?

Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The drawback 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.

Is making the switch to solar worth it?

Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can 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 install 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.