Solar Panel Cost Guide in Norman, OK (2024 Update)
- Norman Solar Installation Cost: $18,408
- 25-Year Savings: $23,264
- Payback Period: 11.9 Years
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Average Cost of Solar Panels in Norman
Let’s take a look at the average cost of solar in Norman.
The national average cost of solar panels is $2.66 per watt, but in Norman it’s 3 per watt.Using this figure, a typical 8.4-kW system would cost about $18,408 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of installing solar panels can vary quite a bit depending on a few factors, such as how many panels you need, your energy consumption and what installation company you go with.Even with the significant initial cost, the average Norman homeowner can save around $17,000 on their power bills over 20 years, which is one of the benefits of solar.
To get a free estimate from a vetted solar company in Norman, you can click the button below.
Solar savings over time in Norman
| Year | Return on Investment |
|---|---|
| 1 years | $-17,199 |
| 3 years | $-14,781 |
| 5 years | $-12,363 |
| 7 years | $-9,944 |
| 9 years | $-7,526 |
| 11 years | $-5,108 |
| 13 years | $-2,689 |
| 15 years | $-271 |
| 17 years | $2,147 |
| 19 years | $4,565 |
| 21 years | $6,984 |
| 23 years | $9,402 |
| 25 years | $11,820 |
Top Solar Installers in Norman
Although you can install solar panels by yourself, it involves extra effort and knowledge. That's one of the reasons almost all homeowners choose to hire a solar panel installer. Another good thing about choosing a vetted solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some nearby:
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 Norman
Factors that Affect Solar Panel Costs in Norman
Though the average cost of a solar system in Norman is $18,408, your final cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,130.There are many different solar panel brands and the one you pick also affects the cost. In many cases, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are provided by most installers in Norman, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can affect the cost. Norman’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size sometimes plays the most considerable 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 promotion can bring their pricing lower to compete with bigger 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 | $13,945 | 12.4 years |
| 8 kW | $3.19 | $17,879 | $18,944 | 12.1 years |
| 10 kW | $3.13 | $21,910 | $24,118 | 11.9 years |
| 12 kW | $3.07 | $25,766 | $29,468 | 11.7 years |
| 14 kW | $3.00 | $29,447 | $34,993 | 11.4 years |
| 16 kW | $2.94 | $32,953 | $40,693 | 11.2 years |
| 18 kW | $2.88 | $36,283 | $46,568 | 10.9 years |
| 20 kW | $2.82 | $39,438 | $52,619 | 10.7 years |
How to Save on Solar Panels
There are a lot of companies available in Norman, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project timeline.
- Reputation: Make sure your solar installer has a good reputation by confirming 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.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one mark of a good company.
- Contract: Before you sign a contract with a solar company, make sure you read it through fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
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 Norman, OK Solar Cost FAQs
What is the average cost of installing solar panels in Norman?
The average cost of solar panels in Norman is about $15,650 for a 5-kW system and $31,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Norman?
Leasing solar panels can be an option if you are unable to pay upfront or secure 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 bang for your buck from going solar.
Is it worth going solar in Norman?
Solar panels can be a great investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.