Solar Panel Cost Guide in Nichols Hills, OK (Nov 2022)

  • Nichols Hills Solar Installation Cost: $15,461
  • 25-Year Savings: $21,352
  • Payback Period: 10.5 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Nichols Hills

Find out what the average cost of a solar system is in Nichols Hills.

The average cost of a solar panel system in Nichols Hills is $3 per watt. The average Nichols Hills homeowner needs a 8.4-kilowatt system, which would cost about $15,461, or $11,441 after the federal solar tax credit of 30% is applied.

The true price you pay can go higher or lower than the average in Nichols Hills depending on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire. With typical savings of about $17,000 on power bills over 20 years, many homeowners in Nichols Hills find investing in solar has a decent ROI.

To get a free estimate from a top solar installation company in Nichols Hills, you can click the button below.

Solar savings over time in Nichols Hills

Year Return on Investment
1 years $-13,988
3 years $-11,043
5 years $-8,098
7 years $-5,153
9 years $-2,208
11 years $737
13 years $3,682
15 years $6,627
17 years $9,572
19 years $12,517
21 years $15,462
23 years $18,407
25 years $21,352

Top Solar Installers in Nichols Hills

Trying to install solar panels yourself can be a dangerous project, which is why getting a solar installer is a good option for many homeowners. The expertise that solar installers provide can be useful as well, particularly if you don't quite know what brand of solar equipment would be right for your home.

If you're searching for a solar installer in Nichols Hills, we've put together a list of our top suggestions here:

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

★★★★★
4.5

  • 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

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

See all of the solar companies in Nichols Hills

Factors that Affect Solar Panel Costs in Nichols Hills

For many Nichols Hills homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Nichols Hills, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you'll pay, which we'll go over below.

Solar Equipment

One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay about $2,620 per kilowatt in Nichols Hills. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Nichols Hills, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Most solar companies in Nichols Hills offer solar loans, which reduce the initial cost of installing solar. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.

Solar Panel Installation Company

Lastly, the company you opt for to install your solar panel system can impact the cost. Nichols Hills' solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that has the products, warranties and services you want and also fits within your budget.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $2.72 $11,444 $14,744 10.9 years
8 kW $2.67 $14,965 $19,952 10.7 years
10 kW $2.62 $18,340 $25,307 10.5 years
12 kW $2.57 $21,568 $30,808 10.3 years
14 kW $2.52 $24,649 $36,457 10.1 years
16 kW $2.46 $27,583 $42,252 9.9 years
18 kW $2.41 $30,371 $48,193 9.7 years
20 kW $2.36 $33,012 $54,282 9.5 years

How to Save on Solar Panels

The solar company you choose will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, including:

  • Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
  • Warranty: Warranties that provide coverage for defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a good company.
  • Contract: When looking over your solar installer'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 component breaking or the company going out of business.
  • Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.

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

★★★★★
4.5

  • 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

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Nichols Hills, OK Solar Cost FAQs

What is the average cost of installing solar panels in Nichols Hills?

This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $13,100 for a 5-kW system and $26,200 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.

Is it better to lease or buy solar panels in Nichols Hills?

Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.

Is going solar worth it?

Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.

How often do you have to replace solar panels?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.

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.

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