Solar Panel Cost Guide in Tishomingo, OK (Feb 2023)
- Tishomingo Solar Installation Cost: $15,534
- 25-Year Savings: $24,101
- Payback Period: 9.8 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Tishomingo
Let's have a look at the average cost of solar in Tishomingo.
Although the national average of solar panels is $2.66 per watt, solar panels in Tishomingo typically cost around $3. Since a 8.5-kW system is needed to cover the energy costs of a typical home in Tishomingo, the average price of going solar will be about $15,534 before claiming the federal solar tax credit of 30%.
These figures are just estimates, and how much solar costs for you may vary based on your energy needs and what company you go with. Despite the large initial cost, the average Tishomingo homeowner can save about $18,000 on their energy bills over 20 years, which is one of the benefits of solar.
To receive a free estimate from a top solar installer in Tishomingo, you can click the button below.
Solar savings over time in Tishomingo
| Year | Return on Investment |
|---|---|
| 1 years | $-13,949 |
| 3 years | $-10,778 |
| 5 years | $-7,607 |
| 7 years | $-4,436 |
| 9 years | $-1,265 |
| 11 years | $1,905 |
| 13 years | $5,076 |
| 15 years | $8,247 |
| 17 years | $11,418 |
| 19 years | $14,588 |
| 21 years | $17,759 |
| 23 years | $20,930 |
| 25 years | $24,101 |
Top Solar Installers in Tishomingo
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Taking advantage of a solar panel installer can make swapping over to solar power much easier. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Tishomingo
Factors that Affect Solar Panel Costs in Tishomingo
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in Tishomingo: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Tishomingo, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can gauge by looking at past power bills. Your total cost can increase by about $2,620 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you pick also affects the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you're looking to get 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
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are provided by most installers in Tishomingo, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also adds to your all-in costs, so it's vital to take that into consideration as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Tishomingo, and each can charge different amounts for labor and equipment. Additionally, some companies in Tishomingo have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $16,624 | 10.2 years |
| 8 kW | $2.67 | $14,965 | $22,458 | 10.0 years |
| 10 kW | $2.62 | $18,340 | $28,440 | 9.8 years |
| 12 kW | $2.57 | $21,568 | $34,568 | 9.6 years |
| 14 kW | $2.52 | $24,649 | $40,843 | 9.4 years |
| 16 kW | $2.46 | $27,583 | $47,264 | 9.2 years |
| 18 kW | $2.41 | $30,371 | $53,833 | 9.0 years |
| 20 kW | $2.36 | $33,012 | $60,548 | 8.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: Read the contract terms closely to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Tishomingo, OK Solar Cost FAQs
How much does it cost to install solar panels in Tishomingo?
The average cost of solar panels in Tishomingo 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 certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Tishomingo?
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 can't take advantage of 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.
How will having solar panels impact how much my home is worth?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in Tishomingo?
On average, the lifespan of solar panels is 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.