Understanding the specifics of solar panel installation is essential when considering the transition to solar power. The installation process itself involves a series of steps, starting with site assessment and ending with the grid connection.
Homeowners should also be informed about the long-term investment aspects of solar panels, which include ongoing maintenance costs, as well as warranty and financing options.
Call now to get a free quote
Key Takeaways
- Solar panel installation in Oklahoma City averages between $10,000 to $15,000 before incentives.
- The actual cost and savings depend on size, rebates, and financing options.
- Costs include initial installation, ongoing maintenance, and potential financing.
Solar Panel Installation Process
Ryan Rodriguez emphasizes the importance of meticulous planning for solar installations, highlighting that in Oklahoma City, the plentiful solar energy can be effectively captured through solar panel systems.
These systems offer a sustainable and cost-efficient energy solution, perfectly suited to the region’s sunny climate.
Average Solar Panel System Costs
The average solar panel system cost in Oklahoma City is about $2.54 per watt as of February 2024, including installation. For a standard 5 kW solar system, homeowners can expect to pay about $12,700 on average before incentives.
- Pre-incentive price range: Approximately $10,792 to $14,602
- Post-federal tax credit: Prices can drop by 30%, making the average price after the federal solar tax credit around $8,889.
These figures provide a clear initial financial outlook for those considering solar power in this city.
Solar Energy System Prices in Oklahoma
Prices for solar systems in Oklahoma City vary depending on several factors: the size of your home, energy needs, and the type of solar panels chosen.
Typical system size for Oklahoma City homes:
- Average cost per watt: $2.53 to $2.62
- Typical system size: 6 kW to 8.4 kW
- Average cost for typical system size: Ranges from $11,008 to $18,445 after the 30% federal tax credit.
Solar Panel Cost Breakdown
Cody Duesing points out that when delving into solar panel installation in Oklahoma City, it’s crucial to meticulously examine two main categories of expenses: the cost of equipment and materials, including monocrystalline and photovoltaic (PV) components, and the fees associated with labor and installation.
He emphasizes that these factors collectively form the bulk of the investment required for solar installations, underscoring the importance of finding the best contractors and companies for an accurate cost estimate.
Equipment and Material Costs
In Oklahoma City, the average solar panel cost per watt is around $2.53 to $3.00, with complete systems averaging between $10,621 and $18,445 after tax credits. The efficiency and brand of panels can influence this price.
Solar equipment also includes inverters, mounting hardware, and wiring, which together can cost several thousand dollars depending on the system’s size and complexity.
| Item | Average Cost Range (before tax credits) |
|---|---|
| Solar Panels | $2.53 – $3.00 per watt |
| Inverter | $0.30 – $0.70 per watt |
| Mounting Hardware | $0.10 – $0.25 per watt |
| Wiring and Other | $0.10 – $0.20 per watt |
Labor and Installation Fees
Labor costs can vary based on the installer’s experience, the complexity of the installation process, and the size of the solar energy system.
In general, labor and additional installation fees can range between $0.50 and $1.25 per watt, meaning that for an average-sized home solar system of around 6 kW, labor can cost between $3,000 and $7,500.
These costs cover the physical installation of panels, electrical wiring, inspection and permitting services, and connection to the grid.
| Service | Average Cost Range (for 6 kW system) |
|---|---|
| Installation Labor | $3,000 – $7,500 |
| Panel Transportation | Included or up to $500 |
| Permits and Inspection | $100 – $1,000 |
Federal and State Solar Tax Credits
The federal solar tax credit, also known as the Investment Tax Credit (ITC), allows homeowners to deduct 30% of the cost of installing a solar energy system from their federal taxes.
This substantial tax credit can lead to thousands of dollars in savings, making solar energy systems more affordable. In Oklahoma, while specific state-level solar tax credits are not available as of 2024, residents can still take full advantage of the ITC.
For a deeper dive into how the Investment Tax Credit (ITC) can benefit your solar energy project, visit the Department of Energy’s website to learn more about this significant savings opportunity.
Local Rebates and Incentives
Local utilities in Oklahoma City may offer rebates and incentives for homeowners who choose to install solar panels. For instance, certain rebate programs provide a one-time payment that helps to reduce the installation costs.
Additionally, the benefits of net metering allow homeowners to receive credits on their utility bills for any excess energy their solar panels produce and feed back into the grid.
Long-Term Energy Savings
Solar panels provide a return on investment through significant savings on energy bills over the lifespan of the system. As electricity rates rise, these savings become even more pronounced.
A solar system in Oklahoma City typically has a payback period that can be fully realized over time, after which homeowners can benefit from virtually free renewable energy, further enhancing their initial investment in solar technology.
Buying vs. Leasing Solar Panels
Buying Solar Panels: Homeowners who choose to buy their solar panels in Oklahoma City typically pay upfront, or they finance the purchase through a solar loan.
The average cost of a solar panel system in the city is $2.54 per watt before incentives. Buying your solar panels means you can benefit from federal tax incentives, including a 30% tax credit, and any available local rebates.
Purchasing also increases the value of your property and provides long-term savings on electricity bills.
Leasing Solar Panels: Leasing solar panels offers immediate savings with little to no upfront costs. However, leasing means you do not own the system, and therefore, cannot take advantage of tax credits. Long-term savings are usually less compared to buying, and lease agreements can include annual cost increases.
A critical point when leasing is that it may not add to the home’s value like a purchase would.
Understanding Solar Loans and Mortgages
Solar Loans: A solar loan can be secured or unsecured, with terms generally ranging from 5 to 20 years.
The interest rates on solar loans vary based on creditworthiness and loan terms. Solar loans allow homeowners to own their systems outright, with the loan payments often being offset by the reduction in their monthly electricity bills.
Solar Mortgages: Some homeowners may have the option to finance their solar panel installation through a mortgage. This could mean either including the cost in the initial mortgage for a home purchase or refinancing a current mortgage to cover the solar panel costs.
The advantage is potentially low interest rates comparable to home loan rates, but it requires the homeowner to have sufficient equity in their home.
Initial Consultation to Installation Completion
The first step in the installation process is the initial consultation, wherein a solar provider will evaluate the site and discuss the homeowner’s energy needs. This typically includes assessing the roof’s condition, orientation, and shading, as well as reviewing the homeowner’s energy consumption patterns to determine the optimal system size.
Upon agreement, the installation timeline begins, with most residential systems in Oklahoma City taking several weeks to complete. The actual installation of the solar panels themselves is relatively swift, often requiring only a few days to a week.
Necessary Permits and Paperwork
Before solar panel installation can commence, specific permits and paperwork must be filed.
In Oklahoma City, homeowners or their installers require a building permit, an electrical permit, and occasionally a mechanical permit, depending on the system’s complexity and local regulations.
The solar provider often handles the permit application process, but the homeowner’s involvement may be required for certain approvals.
Regular Maintenance Requirements
Solar panels are known for their durability and typically require minimal maintenance. It generally includes periodic cleaning to remove any dust, leaves, or other debris that could obstruct sunlight. Homeowners should inspect their solar panels annually for any physical damage or wear and tear.
Potential Repair and Replacement Costs
Although solar panels are designed to last, eventual repairs or replacements can be part of the lifecycle costs.
Solar panels come with warranties, often covering 25 to 30 years, but external components such as inverters may have shorter lifespans and could require replacement every 10 to 15 years.
The cost of such replacements or repairs can vary, but homeowners must factor these into their financial planning.
Moreover, solar batteries, if part of the system, have their own maintenance schedule and replacement costs, with most having warranties of 5 to 15 years.
Manufacturer’s Warranty
Manufacturers typically offer a product warranty that covers defects in the solar panels for a set period, which often ranges from 10 to 25 years.
Brands distinguish themselves by the length and comprehensiveness of their warranties—a sign of how much faith they have in their products’ durability and performance. It’s important for customers to understand what is covered under the warranty, including potential repair costs, and any related customer service policies.
Call now to get a free quote
Ready to Go Solar?
Take the first step towards a brighter, more sustainable future. Call Solar Panels OKC now and discover how easy and affordable it is to switch to solar.
