Solar Panel Cost Guide in Woodward, OK (2024 Update)
- Woodward Solar Installation Cost: $18,035
- 25-Year Savings: $25,001
- Payback Period: 11.2 Years
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Average Cost of Solar Panels in Woodward
Let’s take a look at the average cost of solar in Woodward.
Although the national average of solar panels is $2.66 per watt, solar panels in Woodward typically cost about 3.The average solar panel system size in Woodward is around 8.2 kilowatts, meaning a cost of about $18,035 for a solar installation, or $25,790 before the 0 federal solar tax credit is applied.
The actual price you pay can be higher or lower than the average in Woodward based on several factors, such as the type of solar panels you choose and the solar company you hire.For most homeowners, the upfront investment in solar power is worth paying. On average Woodward homeowners see about $19,000 in savings on electricity bills over 20 years.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Woodward
| Year | Return on Investment |
|---|---|
| 1 years | $-16,826 |
| 3 years | $-14,408 |
| 5 years | $-11,990 |
| 7 years | $-9,571 |
| 9 years | $-7,153 |
| 11 years | $-4,735 |
| 13 years | $-2,316 |
| 15 years | $102 |
| 17 years | $2,520 |
| 19 years | $4,938 |
| 21 years | $7,357 |
| 23 years | $9,775 |
| 25 years | $12,193 |
Top Solar Installers in Woodward
Many homeowners decide to hire a solar installer since installing solar panels on your own can be a labor-intensive endeavor. Also, companies with a good reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
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 Woodward
Factors that Affect Solar Panel Costs in Woodward
Though the average cost of a solar system in Woodward is $18,035, your actual cost may differ. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend around $3,130 per kilowatt in Woodward.There are many different solar panel brands and the one you choose also changes the cost. Typically, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That’s why many Woodward homeowners opt to finance their solar panel systems to make going solar more affordable.While solar loans make adopting solar energy more accessible for Woodward homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Woodward is the company you get to install your solar panel system. As with choosing a company to renovate your kitchen, for example, there are plenty of solar installers that provide a range of services for different budgets.The company’s size sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $15,555 | 11.7 years |
| 8 kW | $3.19 | $17,879 | $21,091 | 11.5 years |
| 10 kW | $3.13 | $21,910 | $26,802 | 11.2 years |
| 12 kW | $3.07 | $25,766 | $32,688 | 11.0 years |
| 14 kW | $3.00 | $29,447 | $38,750 | 10.8 years |
| 16 kW | $2.94 | $32,953 | $44,986 | 10.6 years |
| 18 kW | $2.88 | $36,283 | $51,398 | 10.3 years |
| 20 kW | $2.82 | $39,438 | $57,986 | 10.1 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Different companies carry various brands and types of panels. If you want a specific brand, make sure the solar panel installer you’re considering has it.
- Contract: When reading over your solar installer’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Installation Process: An important thing to understand when adopting solar power 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.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Woodward, OK Solar Cost FAQs
What is the average cost of installing solar panels in Woodward?
The average cost of solar panels in Woodward is about $15,650 for a 5-kW system and $31,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Woodward?
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 savings from going solar.
Does Woodward have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future energy bills.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.