Solar Panels Cost 8.7k-17k in Elk City, OK | October, 2024

Solar Panels Cost $8.7k-$17k in Elk City, OK | October, 2024

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How much do solar panels cost in Elk City, OK in 2024?

Solar panels in Elk City, OK during October, 2024 have an average cost of $3.12 per watt.

Each 1 kW (1000 watts) of solar power capacity will cost you $3,120 for installation. After applying the 30% federal tax credit, a 5 kW solar installation in Elk City generally costs $10,920. It's vital to realize that a higher capacity system could be essential to fulfill your energy needs.

To the left, you can choose your county to see the typical roof size and the average maximum generation capacity for solar panel systems on homes in your area. You can review the costs, payback period, and 20-year average savings for a 5 kW system installed in your county below.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Elk City: $10,920US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Elk City: 6 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Elk City: $19,094US Average: $15,784

Solar Potential in Elk City

Estimated system size and solar electricity production per median viable roof in
Elk City.

Roof size 876sq. ft.
Capacity 12.25kW DC
Electricity 15.5kkWh AC per yr.

Electricity Costs in Elk City, OK & What that Means for Your Solar Panel Pricing

The standard kWh usage for a Elk City resident is 1,037 monthly, with an average electric bill of $144.56. Compact apartments are also included in the numbers mentioned in the prior sentence. The lower energy use in these types of residences impacts those averages.

In October 2024, the mean electricity rate in Elk City, OK is 13.94¢ per kWh.

In Elk City, a system size of 8 kW or larger is needed for the typical energy consumer to account for their entire electricity consumption requirements. After incentives, an 8 kW solar installation costs around $17,472.

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Average solar panel costs by system size in Elk City

On the left, you will find a breakdown of prices for different solar panel system sizes set up in Elk City. With more extensive solar systems, the price goes up, but so do the electricity savings and the income tax credits you can gain.

The solar panel cost calculator, situated down and to the right, offers a cost-benefit analysis using an average $144.56 electric bill for Elk City. By changing the $144.56 to your average electricity bill, you can get customized results.

System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $914 a year
Est. Price
$8,736
Savings from a 4kWthis system
  • Est. yearly production 6,526 kWh
  • Est. monthly savings $76
  • Full payback in 5 years
Environmental Impacts
  • Reduces CO2 emissions by 2.7 tons a year
  • Equivalent to planting 124 trees a year
  • Equivalent to driving 6,675 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,142 a year
Est. Price
$10,920
Savings from a 5kWthis system
  • Est. yearly production 8,157 kWh
  • Est. monthly savings $95
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 3.37 tons a year
  • Equivalent to planting 155 trees a year
  • Equivalent to driving 8,343 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,370 a year
Est. Price
$13,104
Savings from a 6kWthis system
  • Est. yearly production 9,788 kWh
  • Est. monthly savings $114
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 4.04 tons a year
  • Equivalent to planting 186 trees a year
  • Equivalent to driving 10,012 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,599 a year
Est. Price
$15,288
Savings from a 7kWthis system
  • Est. yearly production 11,420 kWh
  • Est. monthly savings $133
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 4.72 tons a year
  • Equivalent to planting 217 trees a year
  • Equivalent to driving 11,681 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,827 a year
Est. Price
$17,472
Savings from a 8kWthis system
  • Est. yearly production 13,051 kWh
  • Est. monthly savings $145
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 5.14 tons a year
  • Equivalent to planting 236 trees a year
  • Equivalent to driving 12,713 mi less a year

Elk City Solar Panel Installation Incentives & Rebates | 2024

The REAP Grant is designed to assist rural agricultural enterprises and small businesses by covering 80% to 100% of the costs associated with photovoltaic or wind turbine installations. Not sure if you are eligible? Use our REAP Grant eligibility tool to check.

A 30% federal tax credit is available to most homeowners for residential solar installations, which helps make solar energy a practical choice in various regions in the United States. State and local efforts are also in place to further drive the growth of solar energy use.

In Oklahoma, 2 solar rebates and incentives are currently available from various utilities and government bodies.

Solar incentives in OK

Renewable Energy Goal

Value:Varies

The Energy Security Act effectively established a renewable portfolio standard to guide state energy investment. The Act required utilities in the state to generate at least 15% of their retail energy from renewable sources by 2015, but without stepped progress "checkpoints" or longer-term goals enumerated. In lieu of renewable energy credits, compliance with the standard goal was measured through annual reports sent to the Oklahoma legislature. Currently, 25.9% of retail energy in Oklahoma is generated renewably. The same legislation elevated the status of natural gas as the preferred fossil fuel for energy generation. Utilities that do not use natural gas are required to explain why they made that choice to the Oklahoma Corporation Commission.

Energy Standards for State Buildings

Value:Varies

Previously in Oklahoma, new state facilities were required to meet certain energy-efficient building standards and seek certification from the Office of Management and Enterprise Services. The statutes codifying this requirement were repealed in 2013. Oklahoma still sets energy efficiency standards at the state level for public and private buildings to follow at their choice. The state government may seek ENERGY STAR certification for buildings at its discretion.

Are solar panels worth it in Oklahoma?

Homeowners in Elk City who expect to live in their residence beyond the payback period of their solar system will find solar panels an clear choice. A 5 kW system in Elk City, OK will enable you to save the average homeowner, on average, $23,774.4 over a 20 period and the average break even point is 6 years.

The cost of not having solar panels in Elk City, OK

The absence of solar panels or another backup power source means missing out on the previously highlighted savings and full dependence on your electric utility for power. Recent news examples have shown that full reliance on your utility provider is not always ideal.

Each year, the average number of outages per customer in Elk City is about 1.49. The average length of an outage is 225.8 minutes. However, during significant events such as equipment failure, landslides or planned maintenance, this duration can grow considerably.

Whether it includes a backup battery or not, a solar panel system could ease the inconvenience of any future power interruptions you may encounter.

Power Outages

Currently, 0 customers are being tracked in Beckham County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Elk City, OK?

Your Energy Needs - Even though larger solar panel systems are more expensive initially, the average price per watt lowers as the system size increases. It is often useful for homeowners to set up a solar system that can make enough electricity to completely replace their electric bill, which results in substantial savings.

Make & Model - Solar panels and mounting equipment, similar to many other products, are available in a variety of makes and models. Your installer’s potential brand preferences make it more important to pick a highly rated contractor. Consumers who choose superior makes and models generally enjoy a superior long-term experience.

Solar Panel Type - It's understandable that monocrystalline panels are now the standard in the industry. These panels are more expensive but produce more energy. The majority of installers in the industry use panels crafted from this material.

Your Property - No two homes or properties are the same. Elements such as trees, sloping terrain, or additional challenges might complicate the installation process. These days, solar installers typically leverage satellite images to evaluate your home and factor in these considerations into the preliminary cost estimate.

Labor Rates - Different companies have varied pay scales for their employees, and these costs are eventually passed on to consumers. Higher wages typically lead to businesses getting better reviews for their work and customer service.

Permitting & Interconnection - Your final installation cost will be impacted by local permitting and utility interconnection fees, which vary by area. Reliable installers will factor these costs into your initial quotes to prevent unexpected expenses.

See what solar panels cost in other OK cities

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Who are the best solar installers in Elk City?

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Auditing of energy requirements for independent energy generation.

Micrometer Engineering

Scottsdale, AZ(602) 790-5749

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.

SunPro Solar

Mandeville, LA(866) 599-3643

Services

  • Monitoring of independent energy generation.
  • Auditing of energy requirements for independent energy generation.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.

Dividend Finance

San Francisco, CA(415) 805-7000

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.
  • Installation of batteries for energy storage.
  • Reparation of solar arrays.
  • Installation of solar arrays.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Engie North America

Houston, TX(713) 636-0000

Services

  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Elk City, OK Solar Panel Cost FAQs

  • As of October, 2024, the average per-watt cost for solar panels in Elk City, OK is $3.12/W. The approximate cost of a 5 kW solar panel system in Elk City, OK, after deducting federal tax credits, is $10,920.
  • Various utility providers and government organizations in Oklahoma are offering 2 rebates and incentives at this time. Additionally, the vast majority qualify for the 30% federal tax credit.
  • Paying in cash provides the highest savings, but there are several financing options available today for solar panels that are also cost-effective. Financing options are frequently available through installers and will be detailed in your initial quotes.
  • Yes, the average 5 kW solar panel payback time in Elk City, OK is 6 years, with expected savings of $23,774.4 on electricity over 20 years.
King Manalo
Last Reviewed By: King Manalo
Published: 2024-10-01