Are you thinking of installing solar panels in Oklahoma City? Are you ready to take the leap into clean energy but unsure about the costs of solar panel installation?
This blog post will take a look at some specific costs associated with installing solar panels in Oklahoma City and provide insight into what factors might influence them. Don’t forget about the costs of maintaining them too.
After reading this article, you’ll know what to expect to spend on a solar panel installation in Oklahoma City.
Solar Panel Installation Cost In Oklahoma City 2022
Recognizing the cost-effective benefits of utilizing solar power is quickly becoming a priority in Oklahoma City homes. With renewable energy technologies increasingly becoming more mainstream, understanding the expenses associated with getting your own solar system installed is crucial when deciding to pursue this avenue for green living.
The average solar panel installation cost in Oklahoma City is approximately $13,500. This estimate is based on the installation of a 5-kilowatt system size, with an average cost of $2.70 per watt. However, the price for a solar company to install solar panels can be even lower after accounting for incentives from the federal government.
Per the Office of Energy Efficiency and Renewable Energy (EERE), homeowners can get a 30% tax credit for the installation of residential solar photovoltaics (PV) between 2022-2032. The federal investment tax credit (also known as the ITC) will incrementally decrease after 2032 before it expires in 2035 unless Congress votes to renew it.
Average Cost Of Solar Panels By Size In Oklahoma City
Here is a breakdown of the average cost of solar panels by size in Oklahoma City.
|System Kilowatt Capacity||System Installation Cost||Cost After 30% Federal ITC|
What To Consider Besides Cost
Besides the cost of solar panel installation, there are several other aspects you should consider when thinking about a solar system for your home.
Types Of Solar Energy Systems
There are 3 main types of home solar systems:
Grid-tied solar energy system: This is the most common type of system installed in homes in the US. Electricity produced by the residential solar panels flows into an inverter that converts direct current (DC) into alternating current (AC). Excess electricity is sent to the utility grid.
Hybrid solar energy system: This type of system is tied into the electric grid, but it also utilizes a solar battery to store excess electricity. The solar battery can then be used as a backup power source rather than relying on the electric grid to fill gaps.
Off-grid solar energy system: This type of system is completely disconnected from the grid. Instead, it relies fully on solar panels and solar batteries for electrical needs. This type of system is usually only installed in areas that don’t have any access to the electric grid.
The Angle Of Your Solar Panels
If you are having your solar panels installed by a professional installation company, they will determine the best pitch for the solar panels in your area.
Oklahoma City, OK, is an ideal solar energy destination with its abundance of natural sunlight. In Oklahoma City, the ideal pitch for stationary photovoltaic solar panels is 30.1 degrees, facing south.
However, if you are changing the angle of your panels based on the seasons, use the following guide:
- Spring: 32.5 degrees
- Summer: 8.3 degrees
- Fall: 32.5 degrees
- Winter: 55.6 degrees
Cost Factors For Installing Solar Panels In Oklahoma City, OK
There are multiple factors that affect the cost of solar panel installation. Here are some of the biggest:
Solar Energy System Size
The larger the solar system, the more solar panels are needed and, consequently, the higher the cost. Of course, bigger solar systems also have other benefits, like increased efficiency of electricity and better energy production across large areas. When deciding on solar panel installation size, it’s important to consider these tradeoffs and decide which works best for your individual needs.
Solar System Panel Quality And Brand
Quality solar panels and trusted solar panel brands make all of the difference when it comes to cost considerations for solar panel installation. Solar panel owners should consider the up-front cost and be mindful of future costs that may come with owning and operating solar panels. Making sure that you invest in quality solar panels and a brand that offers reliable operation over the years will save you a tremendous amount of money in the long run.
Home Electrical Usage
Residential solar installations are most effective when homeowners evaluate their current energy needs, including all electricity-using appliances from washers and dryers to air conditioning and heaters. Work with solar installers who will take the time to analyze your unique situation so you get the most value out of your solar purchase.
Federal And Local Solar Incentives
In August 2022, Congress passed an extension of the Investment Tax Credit that also increased it from 26% to 30%.
Oklahoma offers net metering, which allows you to sell your excess electricity back to the power company in exchange for credits. However, per Oklahoma law, the utilities are not required to purchase your excess electricity production. For this reason, your main incentive for installing solar panels in Oklahoma City is the federal solar tax credit.
If you have a complex roofing situation, your solar installer may charge you more for installation.
Solar panel installation companies all charge different amounts for their labor. While it’s important to shop around for the best deal, cheaper doesn’t necessarily mean better. You are better off paying a little more upfront to deal with a reputable company with great reviews rather than just going with the cheapest installer.
Here at Blue Sky Electric, we pride ourselves not only on our quality solar panel installation work but on our superior customer service.
Permits And Connection Fees
While this typically isn’t a very significant cost, in some cases, you may need to pay for a permit and interconnection fee to the grid on top of your installation costs.
Is Solar Panel Installation Worth It For Your Home?
While every solar panel installation setup is unique, generally speaking, solar panel installation is worth it in the long run. In fact, over the course of 20 years, you can expect to save over $20,000 in electricity costs with an average-sized 5 kW system.
How To Get The Best Price On Solar Panel Installation
Start by doing research into solar companies in your immediate area. Talk to people who have had solar panels installed, and be sure to ask about the pricing scheme and the quality of service each provider offers.
Don’t forget to take advantage of any tax credits or state incentives that are available–these can often take a large chunk out of the final bill. Finally, get multiple quotes from solar companies when considering solar installation so you can compare them side-by-side and determine which offers you the best price.
How Solar Panel Installation Costs Are Offset By Solar Incentives In Oklahoma City
As noted above, the main incentive that lowers solar panel installation costs in Oklahoma City is the 30% federal tax credit. Oklahoma also offers net metering so you can sell your excess electricity production back to the utility, but this is not a guaranteed incentive since the power company is not required to purchase it.
Common Solar Panel FAQs
Are There Solar Panel Financing Options?
Yes. Some solar panel installation companies offer their own financing, such as Tesla. Other companies offer a solar power purchase agreement in which you lease the solar panels and agree to purchase the power they generate at a set rate. Finally, if you don’t want to pay for your solar panels with cash, you can also get a home equity loan or HELOC to help pay for the installation.
Are There Solar Panel Incentives In Oklahoma City?
The 30% federal tax credit for solar panel installation is available in Oklahoma City. Oklahoma is also set up for net metering if your solar energy system is tied to the grid.
How Much Do Solar Panels Cost In Oklahoma City, OK?
As noted above, the average solar panel installation cost in Oklahoma City is approximately $13,500 for a 5 kW system. That being said, it’s important to remember that these are just estimates–the actual cost will depend on factors like panel quality and brand, installation difficulty, permits and connection fees, and more.
Can A Solar Panel System Decrease My Electrical Bill
Definitely! While every solar energy system is unique, the expected savings from a 5 kW solar system is estimated at over $20,000 across a 20-year time span.
What Size Solar Panel System Is Right For My Home?
The number and size of solar panels you need depend on the size of your house, as well as your typical monthly energy usage. The average household gets 20 to 35 panels installed.
Get Your Solar Panel Installation Done Right By The Experts At Blue Sky Electric
Solar panel installation costs vary greatly depending on factors like the size of the system needed; the quality and brand; federal and local incentives; the difficulty level involved with installing the system; and the contractor chosen for installation. But overall, investing in solar power is definitely worth it because not only does it reduce emissions and save money over time, but it also adds significant value to properties!
If you’ve been considering installing solar panels in your home, our team at Blue Sky Electric can help. Fill out our contact form today, and one of our expert electricians will be in touch shortly.