Solar Panel Cost Guide in Dripping Springs, TX (2023 Update)
- Dripping Springs Solar Installation Cost: $14,219
- 25-Year Savings: $20,832
- Payback Period: 10.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Dripping Springs
Let's take a look at the average cost of solar in Dripping Springs.
In Dripping Springs, solar panels cost about 2.69 per watt on average. The average Dripping Springs homeowner needs a 7.5-kilowatt system, which would cost about $14,217 with the federal tax credit, or $20,330 before the 30% tax credit is applied.
These figures are only averages, and your own solar costs may look different based on factors unique to your home and what company you want to go with. Even with the high initial cost, the average Dripping Springs homeowner can save around $18,000 on their electricity bills over 20 years, which is one of the perks of solar.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Dripping Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-14,102 |
| 3 years | $-13,869 |
| 5 years | $-13,635 |
| 7 years | $-13,401 |
| 9 years | $-13,168 |
| 11 years | $-12,934 |
| 13 years | $-12,700 |
| 15 years | $-12,467 |
| 17 years | $-12,233 |
| 19 years | $-11,999 |
| 21 years | $-11,766 |
| 23 years | $-11,532 |
| 25 years | $-11,298 |
Top Solar Installers in Dripping Springs
Many homeowners choose to hire a solar installer since trying to install solar panels by yourself can be challenging. The expertise that solar companies provide can be useful as well, particularly if you don't quite know what kind of solar equipment you need.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some in Dripping Springs:
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 Dripping Springs
Factors that Affect Solar Panel Costs in Dripping Springs
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that will push your cost above or below the average in Dripping Springs: 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 cost of a solar energy system in Dripping Springs, one of the most crucial 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 usage, which you can gauge by looking at past electricity bills. Your total cost can increase by about $2,690 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you choose also changes the cost. Generally, the brands that are more efficient tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are available from most installers in Dripping Springs, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you hire to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies in Dripping Springs, and each can charge different amounts for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and choose a company that provides the products, warranties and services you're looking for and also fits within your budget.
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 | $16,100 | 10.5 years |
| 8 kW | $2.74 | $15,365 | $21,768 | 10.3 years |
| 10 kW | $2.69 | $18,830 | $27,587 | 10.1 years |
| 12 kW | $2.64 | $22,144 | $33,556 | 9.9 years |
| 14 kW | $2.58 | $25,308 | $39,676 | 9.7 years |
| 16 kW | $2.53 | $28,320 | $45,947 | 9.5 years |
| 18 kW | $2.47 | $31,182 | $52,368 | 9.3 years |
| 20 kW | $2.42 | $33,894 | $58,940 | 9.1 years |
How to Save on Solar Panels
Since the model 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 select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Solar system installers 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.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Contract: Even 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 the terms of the warranty.
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 Dripping Springs, TX Solar Cost FAQs
How much does it cost to install solar panels in Dripping Springs?
This is a tough question to answer exactly, 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. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, 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 Dripping Springs?
Leasing solar panels can be an option if you can't 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.
Does Dripping Springs have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future electricity bills.
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 are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can decide 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.