Solar Panel Cost Guide in Amarillo, TX (2023 Update)
- Amarillo Solar Installation Cost: $13,614
- 25-Year Savings: $23,701
- Payback Period: 9.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Amarillo
See how much it might cost to install solar panels in Amarillo.
In Amarillo, solar panels cost about 2.69 per watt on average. The average Amarillo homeowner needs a 7.2-kilowatt system, which would cost about $13,614 with the federal tax credit, or $19,468 before the 30% tax credit is applied.
How much you pay can be higher or lower than the average in Amarillo based on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire. For most homeowners, the upfront investment in solar is worth paying. On average Amarillo homeowners see about $20,000 in savings on utility bills over 20 years.
To receive a free quote from a highly rated solar installer in Amarillo, you can click the button below.
Solar savings over time in Amarillo
| Year | Return on Investment |
|---|---|
| 1 years | $-12,122 |
| 3 years | $-9,136 |
| 5 years | $-6,151 |
| 7 years | $-3,166 |
| 9 years | $-181 |
| 11 years | $2,804 |
| 13 years | $5,790 |
| 15 years | $8,775 |
| 17 years | $11,760 |
| 19 years | $14,745 |
| 21 years | $17,730 |
| 23 years | $20,715 |
| 25 years | $23,701 |
Top Solar Installers in Amarillo
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Going with a solar company can make swapping over to solar power much easier. A solar installer can also help save you money over time by offering warranties, repairs and component replacements.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
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
See all of the solar companies in Amarillo
Factors that Affect Solar Panel Costs in Amarillo
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Amarillo: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Amarillo, 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 gauge by looking at past energy bills. Your total cost can increase by about $2,690 for each additional kilowatt you need. There are many different solar panel brands and the one you choose also changes the cost. In general, the brands that are more efficient tend to also cost more. In addition, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Amarillo offer solar loans, which reduce your upfront costs of installing solar. Although solar loans make switching to solar energy more accessible for Amarillo homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can impact the cost. Amarillo's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $19,205 | 9.5 years |
| 8 kW | $2.74 | $15,365 | $25,908 | 9.3 years |
| 10 kW | $2.69 | $18,830 | $32,762 | 9.1 years |
| 12 kW | $2.64 | $22,144 | $39,766 | 8.9 years |
| 14 kW | $2.58 | $25,308 | $46,921 | 8.8 years |
| 16 kW | $2.53 | $28,320 | $54,227 | 8.6 years |
| 18 kW | $2.47 | $31,182 | $61,683 | 8.4 years |
| 20 kW | $2.42 | $33,894 | $69,290 | 8.2 years |
How to Save on Solar Panels
There are many companies available in Amarillo, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Different companies offer various brands and models of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely provide quality solar panel installation and expertise.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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
EcoWatch's Amarillo, TX Solar Cost FAQs
What is the average cost of installing solar panels in Amarillo?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $13,450 for a 5-kW system and $26,900 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Amarillo?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Is going solar worth it?
Solar panels can be a great investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.