Solar Panel Cost Guide in Fair Oaks Ranch, TX (2023 Update)
- Fair Oaks Ranch Solar Installation Cost: $14,179
- 25-Year Savings: $22,437
- Payback Period: 9.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Fair Oaks Ranch
Let's take a look at the average cost of solar in Fair Oaks Ranch.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Fair Oaks Ranch, the average cost of solar panels is 2.69 per watt. The average Fair Oaks Ranch homeowner needs a 7.5-kilowatt system, which would cost about $14,179 with the federal tax credit, or $20,276 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy use, the type of solar system you want to get, your solar contractor and more. Despite the high initial cost, the average Fair Oaks Ranch homeowner can save around $18,000 on their power bills over 20 years, which is one of the benefits of solar.
To get a free quote from a pre-vetted solar installer in Fair Oaks Ranch, you can click the button below.
Solar savings over time in Fair Oaks Ranch
| Year | Return on Investment |
|---|---|
| 1 years | $-12,714 |
| 3 years | $-9,785 |
| 5 years | $-6,856 |
| 7 years | $-3,926 |
| 9 years | $-997 |
| 11 years | $1,932 |
| 13 years | $4,861 |
| 15 years | $7,791 |
| 17 years | $10,720 |
| 19 years | $13,649 |
| 21 years | $16,579 |
| 23 years | $19,508 |
| 25 years | $22,437 |
Top Solar Installers in Fair Oaks Ranch
Although you can install solar panels by yourself, it takes extra energy and know-how. Because of that, the majority of homeowners choose to go with a solar panel installer. Some solar companies, particularly local ones, can help you make the most of incentives in Fair Oaks Ranch, thereby optimizing your ROI.
If you'd like to go solar but still aren't certain which solar panel installer to go with, here are our suggestions for providers nearby:
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 Fair Oaks Ranch
Factors that Affect Solar Panel Costs in Fair Oaks Ranch
Though the average cost of a solar system in Fair Oaks Ranch is $14,179, your final cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,690. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Fair Oaks Ranch, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Fair Oaks Ranch homeowners choose to finance their solar panel systems to make going solar more affordable. Though solar loans make adopting solar energy more accessible for Fair Oaks Ranch homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the massive popularity of renewable energy solutions in Fair Oaks Ranch, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and go with the company that has the products, warranties and services you're looking for and also fit into 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 | $17,446 | 10.1 years |
| 8 kW | $2.74 | $15,365 | $23,562 | 9.9 years |
| 10 kW | $2.69 | $18,830 | $29,829 | 9.7 years |
| 12 kW | $2.64 | $22,144 | $36,247 | 9.5 years |
| 14 kW | $2.58 | $25,308 | $42,815 | 9.3 years |
| 16 kW | $2.53 | $28,320 | $49,534 | 9.1 years |
| 18 kW | $2.47 | $31,182 | $56,404 | 8.9 years |
| 20 kW | $2.42 | $33,894 | $63,424 | 8.7 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
- Contract: Before signing a contract with a solar installer, make sure you look it over carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
- Warranty: If you care about the longevity of your solar energy system, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
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 Fair Oaks Ranch, TX Solar Cost FAQs
How much does it cost to install solar panels in Fair Oaks Ranch?
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 additional solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Fair Oaks Ranch?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to 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.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $973.18 per year.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.