Solar Panel Cost Guide in Denver City, TX (Dec 2022)
- Denver City Solar Installation Cost: $13,012
- 25-Year Savings: $21,007
- Payback Period: 9.6 Years
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Updated 11/09/2022
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Average Cost of Solar Panels in Denver City
See how much it might cost to make the switch to solar in Denver City.
The average cost of solar panels in Denver City is $3 per watt. Since a 6.9-kW system is needed to cover the energy needs of a typical home in Denver City, the average price of going solar will be about $13,012 before claiming the federal solar tax credit of 30%.
The true cost of your system can go above or below the average in Denver City based on several factors, such as the type of solar panels you choose and the solar installer you hire. Even with the significant initial cost, the average Denver City homeowner can save about $19,000 on their electricity 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 Denver City for a quote for your home.
Solar savings over time in Denver City
| Year | Return on Investment |
|---|---|
| 1 years | $-11,651 |
| 3 years | $-8,929 |
| 5 years | $-6,208 |
| 7 years | $-3,486 |
| 9 years | $-765 |
| 11 years | $1,957 |
| 13 years | $4,678 |
| 15 years | $7,400 |
| 17 years | $10,121 |
| 19 years | $12,843 |
| 21 years | $15,564 |
| 23 years | $18,286 |
| 25 years | $21,007 |
Top Solar Installers in Denver City
When making the switch to solar, many homeowners prefer to hire a solar installer since installing solar panels yourself can be a challenging project. The payback period on a solar system will vary depending on factors like your roof configuration and energy consumption, but going with a solar company can shorten that period. Your provider will be able to help you apply for incentives available in your area.
If you're on the hunt for a solar company in Denver City, we've compiled a list of our top suggestions here:
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 Denver City
Factors that Affect Solar Panel Costs in Denver City
Although the average cost of a solar system in Denver City is $13,012, your actual cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,690 per kilowatt in Denver City. The brand and kind 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 are often more expensive 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 more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a popular option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you hire to handle your switch to green energy can play a part in your total costs. There are about 3 solar installation companies operating in Denver City, and each can charge different amounts for labor and equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, 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 | $17,808 | 9.9 years |
| 8 kW | $2.74 | $15,365 | $24,045 | 9.7 years |
| 10 kW | $2.69 | $18,830 | $30,433 | 9.6 years |
| 12 kW | $2.64 | $22,144 | $36,972 | 9.4 years |
| 14 kW | $2.58 | $25,308 | $43,661 | 9.2 years |
| 16 kW | $2.53 | $28,320 | $50,501 | 9.0 years |
| 18 kW | $2.47 | $31,182 | $57,491 | 8.8 years |
| 20 kW | $2.42 | $33,894 | $64,632 | 8.6 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one sign of a good company.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases provide quality solar panel installation and expertise.
- Contract: It's important to read your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Solar Panel Brands: The kind of solar panel you need plays a part in which company you should choose, since different companies have different panels.
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 Denver City, TX Solar Cost FAQs
What is the average cost of installing solar panels in Denver City?
This is a hard question to answer exactly, because the cost depends on many 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Denver City?
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 don't have access to many solar incentives. Also your property 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.
Do solar panels increase how much your home is worth?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home 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.
