Solar Panel Cost Guide in Addison, TX (2023 Update)
- Addison Solar Installation Cost: $14,480
- 25-Year Savings: $27,272
- Payback Period: 8.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Addison
Let's have a look at the average cost of solar in Addison.
Although the national average of solar panels is $2.66 per watt, solar panels in Addison typically cost about 2.69. Since a 7.7-kW system is needed to cover the energy costs of a typical home in Addison, the average price of going solar will be about $14,480 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of solar panels you want to get, your solar contractor and more. With typical savings of about $21,000 on utility bills over 20 years, many homeowners in Addison find investing in solar can be quite rewarding.
You can click the button below to get connected with a vetted solar company in Addison for a quote for your home.
Solar savings over time in Addison
| Year | Return on Investment |
|---|---|
| 1 years | $-12,810 |
| 3 years | $-9,470 |
| 5 years | $-6,130 |
| 7 years | $-2,790 |
| 9 years | $551 |
| 11 years | $3,891 |
| 13 years | $7,231 |
| 15 years | $10,571 |
| 17 years | $13,911 |
| 19 years | $17,251 |
| 21 years | $20,592 |
| 23 years | $23,932 |
| 25 years | $27,272 |
Top Solar Installers in Addison
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Going with a solar panel installer can make converting to solar power much easier. Plus, if you aren't sure what brand of solar panels and equipment you may need, a solar installer can help you find the right equipment for you after a site survey and consultation.
Working with a professional solar company can make going solar easier. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Addison
Factors that Affect Solar Panel Costs in Addison
Though the average cost of a solar system in Addison is $14,480, your final cost may differ. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay about $2,690 per kilowatt in Addison. There are a lot of different solar panel brands and the one you choose also affects the cost. In general, the brands that are more efficient tend to also cost more. Plus, the type of equipment you're looking to install 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
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are available from most installers in Addison, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Addison is the company you hire to install your PV system. As with choosing a company to build a deck or pool, for example, you'll have many options for solar installers that offer a range of services for different budgets. Additionally, some companies in Addison have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.80 | $11,750 | $20,817 | 9.0 years |
| 8 kW | $2.74 | $15,365 | $28,058 | 8.8 years |
| 10 kW | $2.69 | $18,830 | $35,449 | 8.7 years |
| 12 kW | $2.64 | $22,144 | $42,990 | 8.5 years |
| 14 kW | $2.58 | $25,308 | $50,683 | 8.3 years |
| 16 kW | $2.53 | $28,320 | $58,526 | 8.2 years |
| 18 kW | $2.47 | $31,182 | $66,519 | 8.0 years |
| 20 kW | $2.42 | $33,894 | $74,664 | 7.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one sign of a good company.
- Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Addison, TX Solar Cost FAQs
What is the average cost of installing solar panels in Addison?
The average cost of solar panels in Addison is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Addison?
You can't get solar panels for free in Addison. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,085.58 per year.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.