Solar Panel Cost Guide in Addison, TX (2024 Update)
- Addison Solar Installation Cost: $17,930
- 25-Year Savings: $27,268
- Payback Period: 10.7 Years
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Average Cost of Solar Panels in Addison
We break down average solar pricing in Addison.
The average cost of a solar system in Addison is 3 per watt.To account for the typical energy usage of the average home in Addison, most homeowners require a 7.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $17,930, or $25,640 before the federal solar tax credit of 0 is applied.
The actual price you pay can go higher or lower than the average in Addison depending on a few factors, such as the model of solar panels you choose and the solar installer you hire.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Addison can save around $21,000 on their electricity bills over 20 years.
Click the button below to get connected to a top solar panel company in your area for a customized quote.
Solar savings over time in Addison
| Year | Return on Investment |
|---|---|
| 1 years | $-16,428 |
| 3 years | $-13,424 |
| 5 years | $-10,420 |
| 7 years | $-7,416 |
| 9 years | $-4,412 |
| 11 years | $-1,407 |
| 13 years | $1,597 |
| 15 years | $4,601 |
| 17 years | $7,605 |
| 19 years | $10,609 |
| 21 years | $13,614 |
| 23 years | $16,618 |
| 25 years | $19,622 |
Top Solar Installers in Addison
Although it's possible to install solar panels on your own, it takes extra time and knowledge. Because of that, most homeowners choose to go with a solar panel installer. Local solar companies can also help you optimize your return on investment by walking you through any local incentives and by offering warranties and repairs.
If you’d like to go solar but still aren’t sure which solar panel installer to go with, here are our suggestions for providers in Addison:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Addison
Factors that Affect Solar Panel Costs in Addison
Even though the average cost of a solar system in Addison is $17,930, your final cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Addison, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can determine by looking at past power bills. Your total cost can increase by around $3,330 for each additional kilowatt you need.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your power bills. Additionally, add-on products, like solar batteries, can bring your total well above the Addison average.
Solar Financing Terms
Many homeowners find the average cost of solar in Addison to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you pick will influence your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Addison are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $3.46 | $14,545 | $18,022 | 11.2 years |
| 8 kW | $3.40 | $19,021 | $24,402 | 11.0 years |
| 10 kW | $3.33 | $23,310 | $30,969 | 10.7 years |
| 12 kW | $3.26 | $27,413 | $37,722 | 10.5 years |
| 14 kW | $3.20 | $31,329 | $44,662 | 10.3 years |
| 16 kW | $3.13 | $35,058 | $51,788 | 10.1 years |
| 18 kW | $3.06 | $38,601 | $59,100 | 9.9 years |
| 20 kW | $3.00 | $41,958 | $66,600 | 9.7 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 selecting a company can be a challenge, we have some tips to help you, such as:
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: The model of solar panel you’d like to install plays a role in which installer you should go with, since different companies provide different panels.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 $16,650 for a 5-kW system and $33,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to consider when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Addison?
Most states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.