Solar Panel Cost Guide in Canyon, TX (2025 Update)
- Canyon Solar Installation Cost: $16,817
- 25-Year Savings: $27,733
- Payback Period: 10.2 Years
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Average Cost of Solar Panels in Canyon
Here’s how much it might cost to make the switch to solar in Canyon.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Canyon, the typical cost of solar panels is 3 per watt.To account for the typical energy needs of the average home in Canyon, most homeowners require a 7.2-kilowatt system. Using the figure above, a solar installation costs around $16,817, or $24,048 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of making the switch to solar can vary quite a bit based on a few factors, such as how many panels you need, your energy consumption and what installation company you go with.Despite the large initial cost, the average Canyon homeowner can save around $22,000 on their power bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a pre-vetted solar company in Canyon that can help you get a more accurate cost estimate for your home.
Solar savings over time in Canyon
| Year | Return on Investment |
|---|---|
| 1 years | $-15,501 |
| 3 years | $-12,869 |
| 5 years | $-10,236 |
| 7 years | $-7,604 |
| 9 years | $-4,972 |
| 11 years | $-2,339 |
| 13 years | $293 |
| 15 years | $2,926 |
| 17 years | $5,558 |
| 19 years | $8,190 |
| 21 years | $10,823 |
| 23 years | $13,455 |
| 25 years | $16,088 |
Top Solar Installers in Canyon
When making the switch to solar, many homeowners choose to hire a solar company since overseeing your solar installation yourself can be a time-consuming project. The payback period on a solar system will vary depending on factors like your location and energy consumption, but working with a solar company can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
See all of the solar companies in Canyon
Factors that Affect Solar Panel Costs in Canyon
The cost of installing a solar system in Canyon can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of a solar energy system in Canyon, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by around $3,330 for each additional kilowatt you need.The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a solid route because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installation company you select will influence your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor.The size of the company sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $19,816 | 10.6 years |
| 8 kW | $3.40 | $19,021 | $26,794 | 10.4 years |
| 10 kW | $3.33 | $23,310 | $33,959 | 10.2 years |
| 12 kW | $3.26 | $27,413 | $41,310 | 10.0 years |
| 14 kW | $3.20 | $31,329 | $48,848 | 9.8 years |
| 16 kW | $3.13 | $35,058 | $56,572 | 9.6 years |
| 18 kW | $3.06 | $38,601 | $64,483 | 9.4 years |
| 20 kW | $3.00 | $41,958 | $72,580 | 9.2 years |
How to Save on Solar Panels
The solar panel company you opt for will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, such as:
- 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 expectations you should have about your solar system’s energy production.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
EcoWatch's Canyon, TX Solar Cost FAQs
What is the average cost of installing solar panels in Canyon?
The average cost of solar panels in Canyon 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 stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Canyon?
You can’t get solar panels for free in Canyon. However, you may still be able to install 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.
Is it worth going solar in Canyon?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires 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.