Solar Panel Cost Guide in Hugo, OK (2024 Update)
- Hugo Solar Installation Cost: $18,836
- 25-Year Savings: $26,418
- Payback Period: 11.2 Years
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Average Cost of Solar Panels in Hugo
We go over average solar pricing in Hugo.
Although the national average of solar panels is $2.66 per watt, solar panels in Hugo generally cost about 3.Using this figure, a typical 8.6-kW system would cost about $18,836 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy consumption, the type of equipment you want, your solar contractor and more.With average savings of about $19,000 on electricity bills over 20 years, many homeowners in Hugo find going solar has a decent ROI.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Hugo
| Year | Return on Investment |
|---|---|
| 1 years | $-17,598 |
| 3 years | $-15,123 |
| 5 years | $-12,648 |
| 7 years | $-10,173 |
| 9 years | $-7,698 |
| 11 years | $-5,223 |
| 13 years | $-2,749 |
| 15 years | $-274 |
| 17 years | $2,201 |
| 19 years | $4,676 |
| 21 years | $7,151 |
| 23 years | $9,626 |
| 25 years | $12,101 |
Top Solar Installers in Hugo
Many homeowners opt for a solar panel company since installing solar panels on your own can be a lot of work. The payback period of solar panels will vary depending on factors like your location and energy consumption, but going with a solar company can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
If you’d like to switch to solar energy but still aren’t certain which solar panel company to go with, here are our recommendations for providers in Hugo:
See all of the solar companies in Hugo
Factors that Affect Solar Panel Costs in Hugo
The cost of installing a solar system in Hugo can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production require 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.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Hugo, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a solid option because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you choose will impact your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Hugo are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, 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 | $3.26 | $13,672 | $15,769 | 11.6 years |
| 8 kW | $3.19 | $17,879 | $21,377 | 11.4 years |
| 10 kW | $3.13 | $21,910 | $27,159 | 11.2 years |
| 12 kW | $3.07 | $25,766 | $33,116 | 10.9 years |
| 14 kW | $3.00 | $29,447 | $39,249 | 10.7 years |
| 16 kW | $2.94 | $32,953 | $45,558 | 10.5 years |
| 18 kW | $2.88 | $36,283 | $52,041 | 10.3 years |
| 20 kW | $2.82 | $39,438 | $58,700 | 10.0 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: If you’re concerned about the longevity of your solar panels, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Contract: Even though reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
EcoWatch's Hugo, OK Solar Cost FAQs
What is the average cost of installing solar panels in Hugo?
The average cost of solar panels in Hugo 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 type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Hugo?
A solar panel system isn’t free in Hugo, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can solar panels significantly reduce my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $981.38 per year.
How long do solar panels last in Hugo?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using 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.