Solar Panels Cost 12k-21k in Norman, OK | September, 2024

Solar Panels Cost $12k-$21k in Norman, OK | September, 2024

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How much do solar panels cost in Norman, OK in 2024?

To get solar installed in September, 2024 in Norman, OK averages out to $3.04/W.

You should expect the price to be $3,040, on average, for every 1 kW (or 1000 watts) of solar energy your solar system will need to produce. In Norman, you can expect to spend about $10,640 for a 5 kW solar panel install once the 30% federal income tax credit is factored in. However, please keep in mind that a higher capacity system might be needed to satisfy your energy needs.

On the left-hand side, pick your county to access information on the typical roof size and the average maximum capacity for residential solar on homes within your area. You can review the price, 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.
Norman: $10,640US Average: $12,595
Average Payback Period The number of years until you break even on the solar investment.
Norman: 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.
Norman: $19,847US Average: $15,737

Solar Potential in Norman

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

Roof size 1,073sq. ft.
Capacity 15kW DC
Electricity 20.6kkWh AC per yr.

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

With an average consumption of 1,236 kWh per month, Norman households pay about $146.03 for electricity. Small living spaces, such as condos and cottages, are also included in the data cited in the previous sentence.

Norman, OK's electricity rate is on average 11.82¢ per kWh in September 2024.

To meet all of the energy needs of an average consumer in Norman, a solar system of 10 kW or larger is required. At this time, a 10 kW solar panel system will cost you approximately $30,400, but the 30% federal income tax credit reduces the total to $21,280.

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Average solar panel costs by system size in Norman

On the left side below, there is the pricing details for various sizes of the solar panel systems set up in Norman. Naturally, with a larger solar system, you'll see a greater initial expense, but the rewards are higher electricity savings and more substantial income tax credits.

See a cost benefit analysis in the solar panel cost calculator below and to the right, for an average electric bill of $146.03 in Norman. To get tailored results, simply adjust the $146.03to match your average electricity bill amount.

System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,158 a year
Est. Price
$12,768
Savings from a 6kWthis system
  • Est. yearly production 9,648 kWh
  • Est. monthly savings $96
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 3.39 tons a year
  • Equivalent to planting 156 trees a year
  • Equivalent to driving 8,385 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,351 a year
Est. Price
$14,896
Savings from a 7kWthis system
  • Est. yearly production 11,256 kWh
  • Est. monthly savings $113
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 3.95 tons a year
  • Equivalent to planting 182 trees a year
  • Equivalent to driving 9,783 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,544 a year
Est. Price
$17,024
Savings from a 8kWthis system
  • Est. yearly production 12,864 kWh
  • Est. monthly savings $129
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 4.52 tons a year
  • Equivalent to planting 207 trees a year
  • Equivalent to driving 11,180 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $1,737 a year
Est. Price
$19,152
Savings from a 9kWthis system
  • Est. yearly production 14,472 kWh
  • Est. monthly savings $145
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 5.08 tons a year
  • Equivalent to planting 233 trees a year
  • Equivalent to driving 12,578 mi less a year
System Size 10kW
Roof Size Min. space required
715 ft²
Electricity Value Annual Production $1,930 a year
Est. Price
$21,280
Savings from a 10kWthis system
  • Est. yearly production 16,080 kWh
  • Est. monthly savings $146
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 5.13 tons a year
  • Equivalent to planting 235 trees a year
  • Equivalent to driving 12,689 mi less a year

Norman Solar Panel Installation Incentives & Rebates | 2024

Eligible rural small businesses and farms might have their photovoltaic or wind turbine installation costs covered by the REAP Grant, ranging from 80% to 100%. If you believe you might qualify, we suggest trying our REAP Grant eligibility tool to verify.

For those considering residential solar options, a 30% federal income tax credit is broadly available, increasing the appeal and practicality of solar energy in many areas across the nation. Additionally, there are numerous state and local incentives to further promote the adoption of solar energy.

A total of 2 solar rebates and incentives are available in Oklahoma through various utility companies and government departments.

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?

For those looking to stay in their home past the solar system's payback period, solar panels are a good investment in Norman. Installing a 5 kW solar system in Norman, OK will, on average, save you $24,407.2 over 20 years, and you can expect to break even in about 6 years.

The cost of not having solar panels in Norman, OK

Failing to install solar panels or an alternative backup energy means missing the savings mentioned earlier and being entirely reliant on your electric utility for electricity. The news has provided several examples highlighting that full reliance on your utility isn't always the best idea.

On average, customers in Norman have encountered 0.88 utility outages per year in recent times. Outages typically last for an average of 63 minutes. Major occurrences like overloaded power grids, wildfires or planned maintenance can lead to a significant rise in these time frames.

A solar panel system with (or without) a backup battery could ease the strain of future outages you experience.

Power Outages

Currently, 0 customers are being tracked in Cleveland County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Norman, 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. Setting up a solar panel system that can fully offset the electric bill is advantageous to individuals because of the reduced long-term costs.

Make & Model - Solar panels, similar to many other products, are available in a variety of makes and models. The contractor’s preference for brand makes it crucial to choose a recommended company. Consumers who choose better equipment usually enjoy a better long-term experience.

Solar Panel Type - It's no surprise that monocrystalline panels are now the standard in the industry. These panels have a higher cost but yield more energy. Most installers in the industry utilize panels made from this material.

Your Property - Trees, uneven landscapes, or other barriers can increase the difficulty of the installation. Nowadays, solar installers typically leverage satellite images to evaluate your home and incorporate these considerations into the preliminary cost estimate.

Labor Rates - Companies pay different wages to their employees, and these expenses are inevitably borne by the consumers. It is commonly observed that companies with higher wages garner superior reviews for their services and customer service.

Permitting & Interconnection - The cost of installation will be affected by different local permitting and utility interconnection fees. Quality local installers will integrate these numbers into your first quotes to prevent any surprises.

See what solar panels cost in other OK cities

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Who are the best solar installers in Norman?

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • 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.
  • Monitoring of independent energy generation.

Micrometer Engineering

Scottsdale, AZ(602) 790-5749

Services

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

SunPro Solar

Mandeville, LA(866) 599-3643

Services

  • Solar systems for selling electricity back to the grid.
  • 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.

Dividend Finance

San Francisco, CA(415) 805-7000

Services

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

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

City Electric Supply

Dallas, TX(866) 634-9853

Services

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

Norman, OK Solar Panel Cost FAQs

  • In Norman, OK, the mean cost per watt for solar panels as recorded in September, 2024 is $3.04/W. After the federal tax credit, the estimated cost for a 5 kW solar panel system in Norman, OK is roughly $10,640.

  • As of now, there are 2 rebates and incentives offered by various utilities and government entities in Oklahoma. Furthermore, the majority of people qualify for the 30% federal tax credit.

  • Paying in cash yields the highest savings, but there are multiple financing options available today for solar panels that are also cost-effective. Initial quotes from installers will frequently detail information about available financing options.

  • Yes, homeowners in Norman, OK generally see a payback time of 6 years for 5 kW solar panel systems, with electricity savings averaging $24,407.2 over a 20-year period.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-09-15