Solar Panel Cost Guide in Nichols Hills, OK (2023 Update)
- Nichols Hills Solar Installation Cost: $15,468
- 25-Year Savings: $21,344
- Payback Period: 10.5 Years
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Updated September 15, 2023
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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 typically cost about 2.62. The average solar panel system size in Nichols Hills is around 8.4 kilowatts, meaning a cost of about $15,461 for a solar installation, or $22,109 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of going solar can vary quite a bit based on several factors, such as how many panels you need, your energy consumption and what solar installer you go with. But, once you've paid the upfront cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $17,000 over 20 years on utility bills.
To receive a free quote from a top solar installer in Nichols Hills, you can click the button below.
Solar savings over time in Nichols Hills
| Year | Return on Investment |
|---|---|
| 1 years | $-15,346 |
| 3 years | $-15,100 |
| 5 years | $-14,855 |
| 7 years | $-14,609 |
| 9 years | $-14,364 |
| 11 years | $-14,118 |
| 13 years | $-13,873 |
| 15 years | $-13,628 |
| 17 years | $-13,382 |
| 19 years | $-13,137 |
| 21 years | $-12,891 |
| 23 years | $-12,646 |
| 25 years | $-12,401 |
Top Solar Installers in Nichols Hills
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Going with an installer can make your swap to solar power much easier. Plus, if you aren't sure what brand of solar panels and equipment you may need, a solar installer can help you find the right equipment for you after a site survey and consultation.
If you're looking for a solar company in Nichols Hills, 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 Nichols Hills
Factors that Affect Solar Panel Costs in Nichols Hills
There are a number of criteria that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
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. There are a lot of different solar panel brands and the one you pick also affects the cost. Typically, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Nichols Hills to be too expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Nichols Hills is the company you get to install your solar panel system. Similar to choosing a company to build a deck or pool, for instance, there's no shortage of solar installers that offer a range of services at different costs. Some companies 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 cost more. It's best to do some research and choose a company that offers the products, warranties and services you're looking for 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
There are numerous companies available in Nichols Hills, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Make sure you're aligned with the installer with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Before signing a contract with a solar company, make sure to look it over carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of options before deciding.
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
What is the average cost of installing 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 $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 above-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Nichols Hills?
Leasing solar panels can be an attractive choice, as it typically 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 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 it worth going solar in Nichols Hills?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and how much 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 buy between 20 and 35 panels to account for 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.