Solar Panel Cost Guide in Norman, OK (2024 Update)
- Norman Solar Installation Cost: $18,408
- 25-Year Savings: $23,264
- Payback Period: 11.9 Years
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Average Cost of Solar Panels in Norman
Let’s take a look at the average cost of solar in Norman.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Norman, the average cost of solar panels is 3 per watt.The average solar panel system size in Norman is around 8.4 kilowatts, meaning a cost of about $18,408 for a solar installation, or $26,323 before the 0 federal solar tax credit is applied.
The true cost of your system can be above or below the average in Norman depending on a variety of factors, such as the kind of solar panels you choose and the solar company you hire.Even with the large initial cost, the average Norman homeowner can save around $17,000 on their electricity bills over 20 years, which is one of the positives of solar.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Norman
| Year | Return on Investment |
|---|---|
| 1 years | $-17,199 |
| 3 years | $-14,781 |
| 5 years | $-12,363 |
| 7 years | $-9,944 |
| 9 years | $-7,526 |
| 11 years | $-5,108 |
| 13 years | $-2,689 |
| 15 years | $-271 |
| 17 years | $2,147 |
| 19 years | $4,565 |
| 21 years | $6,984 |
| 23 years | $9,402 |
| 25 years | $11,820 |
Top Solar Installers in Norman
Although it's possible to install solar panels on your own, it involves extra effort and expertise. That's one of the reasons almost all homeowners choose to hire a solar panel installer. Solar installers provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in Norman:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
See all of the solar companies in Norman
Factors that Affect Solar Panel Costs in Norman
Though the average cost of a solar system in Norman is $18,408, your final cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the cost of solar panels in Norman, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can determine by looking at past power bills. Your overall cost can increase by around $3,130 for each additional kilowatt you need.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your electric bills. In addition, add-on products, such as solar batteries, can bring your total well above the Norman average.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Norman homeowners decide to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also adds to your overall costs, so it’s important to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can affect how much it costs. Norman’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $13,945 | 12.4 years |
| 8 kW | $3.19 | $17,879 | $18,944 | 12.1 years |
| 10 kW | $3.13 | $21,910 | $24,118 | 11.9 years |
| 12 kW | $3.07 | $25,766 | $29,468 | 11.7 years |
| 14 kW | $3.00 | $29,447 | $34,993 | 11.4 years |
| 16 kW | $2.94 | $32,953 | $40,693 | 11.2 years |
| 18 kW | $2.88 | $36,283 | $46,568 | 10.9 years |
| 20 kW | $2.82 | $39,438 | $52,619 | 10.7 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Warranty: If you’re worried about the durability of your solar panel system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Though reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
EcoWatch's Norman, OK Solar Cost FAQs
How much does it cost to install solar panels in Norman?
This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $15,650 for a 5-kW system and $31,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Norman?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property 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 savings from going solar.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How long do solar panels last in Norman?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use 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.