Solar Panel Cost Guide in Denison, TX (2023 Update)
- Denison Solar Installation Cost: $14,631
- 25-Year Savings: $27,121
- Payback Period: 8.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Denison
Here's how much it might cost to install solar panels in Denison.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Denison, the average cost of a solar system is 2.69 per watt. Since a 7.8-kW system is needed to cover the energy usage of a typical home in Denison, the average price of going solar will be about $14,631 after claiming the federal solar tax credit of 30%.
How much you pay can go higher or lower than the average in Denison based on several factors, such as the model of solar panels you choose and the solar installer you hire. Many homeowners find adopting solar power is a solid investment. The average homeowner in Denison can save around $20,000 on their power bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Denison
| Year | Return on Investment |
|---|---|
| 1 years | $-12,961 |
| 3 years | $-9,621 |
| 5 years | $-6,280 |
| 7 years | $-2,940 |
| 9 years | $400 |
| 11 years | $3,740 |
| 13 years | $7,080 |
| 15 years | $10,420 |
| 17 years | $13,761 |
| 19 years | $17,101 |
| 21 years | $20,441 |
| 23 years | $23,781 |
| 25 years | $27,121 |
Top Solar Installers in Denison
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Taking advantage of an installer can make converting to solar power much easier. Companies can also have access to various kinds of the best solar panels and help you decide which one will be best for you.
Working with a professional solar company 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 Denison
Factors that Affect Solar Panel Costs in Denison
Though the average cost of a solar system in Denison is $14,631, your final cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the cost of a solar system in Denison, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can gauge by looking at past power bills. Your overall cost can increase by about $2,690 for each additional kilowatt you need. There are several different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that offer higher efficiency tend to also be more expensive. 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 panels out of pocket can be challenging. Solar loans are offered by most installers in Denison, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Denison is the company you choose to install your solar system. Similar to choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services at different price points. The size of the company can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger 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 | $20,496 | 9.1 years |
| 8 kW | $2.74 | $15,365 | $27,629 | 8.9 years |
| 10 kW | $2.69 | $18,830 | $34,913 | 8.8 years |
| 12 kW | $2.64 | $22,144 | $42,347 | 8.6 years |
| 14 kW | $2.58 | $25,308 | $49,932 | 8.4 years |
| 16 kW | $2.53 | $28,320 | $57,668 | 8.2 years |
| 18 kW | $2.47 | $31,182 | $65,554 | 8.1 years |
| 20 kW | $2.42 | $33,894 | $73,591 | 7.9 years |
How to Save on Solar Panels
The solar installer you go with will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, including:
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
- Contract: When looking over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Solar Panel Brands: Different companies will offer various brands and kinds of panels. If you want a specific brand, make sure the solar 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
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 Denison, TX Solar Cost FAQs
How much does it cost to install solar panels in Denison?
This is a tough question to answer precisely, because the cost depends on a variety of 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Denison?
Leasing solar panels can be an option if you can't pay upfront or get 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 savings from going solar.
Can solar panels eliminate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,074.85 per year.
How long do solar panels last in Denison?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using 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.