Solar Panel Cost Guide in Elsa, TX (Feb 2023)
- Elsa Solar Installation Cost: $13,388
- 25-Year Savings: $17,670
- Payback Period: 10.8 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Elsa
Find out what the average cost of solar panels are in Elsa.
Although the national average of solar panels is $2.66 per watt, solar panels in Elsa typically cost about $3. The average solar panel system size in Elsa is around 7.1 kilowatts, meaning a cost of about $13,388 for a solar installation, or $9,907 after the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of going solar can vary depending on a few factors, such as what size system you need, your energy usage and what installation company you go with. But, once you've paid the initial cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $17,000 over 20 years on power bills.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Elsa
| Year | Return on Investment |
|---|---|
| 1 years | $-12,146 |
| 3 years | $-9,661 |
| 5 years | $-7,177 |
| 7 years | $-4,692 |
| 9 years | $-2,207 |
| 11 years | $277 |
| 13 years | $2,762 |
| 15 years | $5,247 |
| 17 years | $7,731 |
| 19 years | $10,216 |
| 21 years | $12,701 |
| 23 years | $15,185 |
| 25 years | $17,670 |
Top Solar Installers in Elsa
Many homeowners decide to hire a solar panel company since trying to put up solar panels on your own can be a lot of work. Since solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you'd like to start using solar energy but still aren't certain which solar panel company to go with, here are our suggestions for providers in Elsa:
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 Elsa
Factors that Affect Solar Panel Costs in Elsa
For many Elsa homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Elsa, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That's why it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. There are many different solar panel brands and the one you choose also changes the cost. Usually, the brands that are more efficient tend to also cost more. In addition, the type of equipment you choose 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
Many homeowners find the average cost of solar in Elsa to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest. It's a good idea to factor 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 the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Elsa is the company you get to install your solar panel system. Similar to choosing a company to install new cabinets, for example, you'll have many options for solar installers that offer a range of services for different budgets. Additionally, some companies in Elsa are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $14,460 | 11.2 years |
| 8 kW | $2.74 | $15,365 | $19,582 | 11.0 years |
| 10 kW | $2.69 | $18,830 | $24,854 | 10.8 years |
| 12 kW | $2.64 | $22,144 | $30,277 | 10.6 years |
| 14 kW | $2.58 | $25,308 | $35,850 | 10.3 years |
| 16 kW | $2.53 | $28,320 | $41,574 | 10.1 years |
| 18 kW | $2.47 | $31,182 | $47,449 | 9.9 years |
| 20 kW | $2.42 | $33,894 | $53,474 | 9.7 years |
How to Save on Solar Panels
There are numerous companies available in Elsa, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: When making the switch to solar power, it's necessary to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the project timeline.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: The brand of solar panel you'd like plays a role in which company you should choose, since different companies have different panels.
- Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand what services your solar company will provide 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 (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 Elsa, TX Solar Cost FAQs
How much does it cost to install solar panels in Elsa?
This is a difficult question to answer exactly, because the cost depends on a few different 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Elsa?
Leasing solar panels can be an option if you can't afford to 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 bang for your buck from going solar.
How will solar panels impact my home value?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels do I need to power my home?
To figure out how many solar panels 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 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.