Solar Panel Cost Guide in Norman, OK (2023 Update)
- Norman Solar Installation Cost: $15,409
- 25-Year Savings: $23,264
- Payback Period: 10.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Norman
Let's take a look at the average cost of solar in Norman.
In Norman, solar panels cost about 2.62 per watt on average. To cover the typical energy needs of the average home in Norman, most homeowners require a 8.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $15,406, or $22,031 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Norman homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. With average savings of about $17,000 on power bills over 20 years, many homeowners in Norman find installing solar panels has a decent ROI.
Click the button below to get connected to a reputable solar panel company in Norman for a customized estimate.
Solar savings over time in Norman
| Year | Return on Investment |
|---|---|
| 1 years | $-15,280 |
| 3 years | $-15,022 |
| 5 years | $-14,764 |
| 7 years | $-14,507 |
| 9 years | $-14,249 |
| 11 years | $-13,991 |
| 13 years | $-13,733 |
| 15 years | $-13,475 |
| 17 years | $-13,217 |
| 19 years | $-12,960 |
| 21 years | $-12,702 |
| 23 years | $-12,444 |
| 25 years | $-12,186 |
Top Solar Installers in Norman
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Using an installer can make switching to solar power much easier. Plus, if you're unsure what type of solar panels and equipment you may need, a solar expert can help you figure that out after a site survey and consultation.
If you're searching for a solar company in Norman, the EcoWatch team has 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 Norman
Factors that Affect Solar Panel Costs in Norman
For many Norman homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Norman, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar panel 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 $2,620. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Norman provide solar loans, which reduce the initial cost of installing a solar system. However, the interest on solar loans also adds to your overall costs, so it's crucial to take that into consideration as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you hire to install your solar system can play a role in determining your pricing. Norman's solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $16,173 | 10.4 years |
| 8 kW | $2.67 | $14,965 | $21,857 | 10.2 years |
| 10 kW | $2.62 | $18,340 | $27,688 | 10.0 years |
| 12 kW | $2.57 | $21,568 | $33,666 | 9.8 years |
| 14 kW | $2.52 | $24,649 | $39,791 | 9.6 years |
| 16 kW | $2.46 | $27,583 | $46,062 | 9.4 years |
| 18 kW | $2.41 | $30,371 | $52,480 | 9.2 years |
| 20 kW | $2.36 | $33,012 | $59,045 | 9.0 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which model 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 peruse their list of options before making your decision.
- Contract: It's important to read your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
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 Norman, OK Solar Cost FAQs
How much does it cost to install solar panels in Norman?
The average cost of solar panels in Norman is about $13,100 for a 5-kW system and $26,200 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels significantly reduce my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Norman, that will require at least a 10-kW system. Not all homes will have roofs that 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 long do solar panels last in Norman?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.