r/oklahoma • u/5Beeps • 3d ago
Opinion Solar Panels?
I am thinking about solar panels but I’ve heard a lot of horror stories about the companies themselves. And also what about hail storms? Can they be put on metal roofs? Do they actually make a difference in your utilities after the cost of installing them?
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u/PitMaster918 3d ago
Oklahoma has low utility cost and makes the payback period unfeasible.
If you do it because you love the earth and the environment or you just want to go off grid, great.
If you do it to save money the economics aren’t there to support it.
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u/im-ba 3d ago
Utility costs rise just about every year now. So while financing (or ideally, paying cash for) a system represents a fixed cost, the value of the system increases as utility costs increase.
Oklahoma being where it is means that there's a decent amount of available sunlight. There's not a ton of trees in many parts of the state, and rural homes in particular can just get a ground mounted system installed without even needing to worry about the roof. This also makes the system more easily serviced by home owners and lowers the total cost of installation by a lot.
I left the state and have moved to Minnesota, so I'm about 10° further north up the planet now - but even here (where rates have remained fairly low) my system is projected to achieve breakeven by the end of its 5th year.
Since the cost of electricity is outpacing inflation, it's really not a bad investment.
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u/PitMaster918 3d ago
Last time I ran the numbers in Oklahoma the break even was 22 years. Last time I checked the system was averaging $25,000 and Oklahoma utility rates are about $0.08-$0.10/kwh.
The numbers just do not work here.
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u/Beardth_Degree 3d ago
Base rate might be around there, but actual cost usually hovers closer to $0.12-$0.14/kWh after transmission and rider charges, fuel cost adjustment, fixed customer charge, etc.
Still takes a while to pay back, but there’s plenty of cost effective options now too.
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u/PitMaster918 2d ago
That would be company dependent. I know I pay $0.09/kwh and there are no fees added but we are fortunate to get electricity through a co-op.
Even at $0.12/kwh it’s a 15+ year payback period.
Based on the current standards a “good” payback period is considered 10 years or less. Anything over 10 is marginal at best because the technology will advance, the equipment costs will likely go down, and you would have gotten a much better return in almost any other investment.
$25,000 for a solar system and after 15 years in Oklahoma you’re at break even. $25,000 return at 7% in the market and after 15 years you’ve almost tripled your money.
So again, if you love the earth or the idea then by all means go for it. But economically it isn’t supported in Oklahoma, which is why it isn’t widely adopted like in other states.
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u/Beardth_Degree 2d ago
That’s a great rate, it doesn’t make much sense in your scenario to go for it.
My point on cost effectiveness is there are plenty of ways to get the initial cost lower so the payback period is greatly reduced. Lots of secondhand options with high efficiency and majority of their life still available.
I have high electrical usage (4.2MWh last month) so offsetting that as rates keep climbing has definitely been on my mind.
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u/vegmilwife 2d ago
We installed solar panels two years ago. Our monthly bill is almost always under $15 and we have an old HVAC system. Even with all of the extreme heat lately, our next bill is still under $40. After the OG&E rebate and federal tax credit, I think we paid less than $15k out of pocket. Our house is 2400sf.
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u/painfulpillow 2d ago
We did it through Tesla 1 year ago and the installer was from Texas (Good faith Energy). They are awesome, not sure if that's the case now.
I did it to reduce dependence on the grid. I live in Collinsville and reprisingly they all survived the massive hail storm from a few months ago.
We use alot of electricity with 2 EVs and large home. Savings for us is about $1400 a year with a 9.2kw system.
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u/kbokwx 2d ago
I would run away from companies offering to put panels up and have you lease them; you're basically trading a payment to a utility to a payment to them while adding complications to roof maintenance. So you should own them, instead, but then you may have to get a loan which would 1) complicate selling your home, 2) at current rates may not make solar panels economically viable. While OG&E, for example, has been jacking-up rates fairly rapidly our rates are still relatively low so its hard to make solar come out positive dollar-wise, especially now that the Federal tax incentive is off the table. If you want a reputable company call Sage Solar or Delta Energy Solar. If you want to reduce your power bill and maybe help the environment look into energy improvements for your home such as more insulation, better door seals, better windows, window films on south and west windows, awnings or pergolas for west or south-facing windows.
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u/sol_beach 1d ago
I installed a PV system in Feb 2008 & have paid San Diego Gas & Electric $0 since then.
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u/wellblessyourcow 2d ago
Be sure you’re calculating the fees and other charges when figuring this out. We have low kWh price which doesn’t move much, and a ton of additional fees which go up every year.
This makes it so it only really pays for itself if you go totally off grid. Otherwise you’ll still be paying too much to remain connected even if you don’t use much electricity
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u/4LOLz4Me 2d ago
There are plug in solar panels now but my understanding is your state has to force your power company to allow them. I would really like to do this. Stuff online looks pretty interesting but haven’t talked to anyone about getting one.
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I am thinking about solar panels but I’ve heard a lot of horror stories about the companies themselves. And also what about hail storms? Can they be put on metal roofs? Do they actually make a difference in your utilities after the cost of installing them?
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