Solar Panel Cost Guide in Spencer, OK (Feb 2023)
- Spencer Solar Installation Cost: $15,461
- 25-Year Savings: $21,352
- Payback Period: 10.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Top Solar Installers in Spencer
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Hiring an installer can make your switch to solar power much easier. The expertise that solar companies offer can be useful as well, especially if you don't quite know what type of solar equipment you need.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
See all of the solar companies in Spencer
Factors that Affect Solar Panel Costs in Spencer
For many Spencer homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Spencer, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.
When it comes to estimating the cost of a solar energy system in Spencer, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can figure out by looking at past electricity bills. Your total cost can increase by around $2,620 for each additional kilowatt you need. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag 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 extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a popular option because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. Even though solar loans make adopting solar energy more accessible for Spencer homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can affect your pricing. Spencer's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 company that does your system 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 challenge, we have some tips to help you, such as:
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Solar Panel Brands: The model of solar panel you'd like to install plays a part in which installer you should choose, since different companies offer different panels.
EcoWatch's Spencer, OK Solar Cost FAQs
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.