Solar Panel Cost Guide in Elm Creek, TX (2024 Update)
- Elm Creek Solar Installation Cost: $16,711
- 25-Year Savings: $41,976
- Payback Period: 7.5 Years
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Average Cost of Solar Panels in Elm Creek
Find out what the average cost of solar panels are in Elm Creek.
In Elm Creek, solar panels cost about 3 per watt on average.To account for the typical energy usage of the average home in Elm Creek, most homeowners require a 7.2-kilowatt system. Using the figure above, a solar installation costs about $16,711, or $23,897 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Elm Creek homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Despite the high upfront cost, the average Elm Creek homeowner can save around $31,000 on their energy bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a pre-vetted solar company in Elm Creek that can help you get a more accurate cost estimate for your home.
Solar savings over time in Elm Creek
| Year | Return on Investment |
|---|---|
| 1 years | $-14,561 |
| 3 years | $-10,260 |
| 5 years | $-5,960 |
| 7 years | $-1,659 |
| 9 years | $2,641 |
| 11 years | $6,942 |
| 13 years | $11,243 |
| 15 years | $15,543 |
| 17 years | $19,844 |
| 19 years | $24,144 |
| 21 years | $28,445 |
| 23 years | $32,746 |
| 25 years | $37,046 |
Top Solar Installers in Elm Creek
Although you can install solar panels yourself, it takes extra energy and knowledge. Because of that, most people choose a solar panel installer. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and component replacements.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Elm Creek
Factors that Affect Solar Panel Costs in Elm Creek
Although the average cost of a solar system in Elm Creek is $16,711, your final cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Elm Creek average.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a popular choice because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.When estimating your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you choose to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies operating in Elm Creek, and each can charge varying amounts for labor and equipment.The company’s size sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to more resources and bulk 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 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 | $3.46 | $14,545 | $31,883 | 7.8 years |
| 8 kW | $3.40 | $19,021 | $42,883 | 7.7 years |
| 10 kW | $3.33 | $23,310 | $54,070 | 7.5 years |
| 12 kW | $3.26 | $27,413 | $65,444 | 7.4 years |
| 14 kW | $3.20 | $31,329 | $77,003 | 7.2 years |
| 16 kW | $3.13 | $35,058 | $88,750 | 7.1 years |
| 18 kW | $3.06 | $38,601 | $100,683 | 6.9 years |
| 20 kW | $3.00 | $41,958 | $112,802 | 6.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Contract: It’s important to read your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Solar Panel Brands: The model of solar panel you need plays a role in which company you should opt for, since different companies provide different panels.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Elm Creek, TX Solar Cost FAQs
What is the average cost of installing solar panels in Elm Creek?
The average cost of solar panels in Elm Creek is about $16,650 for a 5-kW system and $33,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Elm Creek?
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 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 financial benefits from going solar.
Can solar panels significantly reduce my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Elm Creek, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
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 uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house 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.