Solar Panel Cost Guide in Farmersville, TX (Mar 2023)
- Farmersville Solar Installation Cost: $14,556
- 25-Year Savings: $27,197
- Payback Period: 8.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Farmersville
We break down average solar pricing in Farmersville.
The average cost of solar panels in Farmersville is 2.69 per watt. Using this figure, a typical 7.7-kW system would cost about $14,556 before the 30% federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Farmersville depending on a few factors, such as the model of solar panels you choose and the solar installer you hire. Many homeowners find installing a solar panel system is a rewarding investment. The average homeowner in Farmersville can save about $21,000 on their electricity bills over 20 years.
To receive a free estimate from a highly rated solar installer in Farmersville, you can click the button below.
Solar savings over time in Farmersville
| Year | Return on Investment |
|---|---|
| 1 years | $-12,886 |
| 3 years | $-9,545 |
| 5 years | $-6,205 |
| 7 years | $-2,865 |
| 9 years | $475 |
| 11 years | $3,815 |
| 13 years | $7,156 |
| 15 years | $10,496 |
| 17 years | $13,836 |
| 19 years | $17,176 |
| 21 years | $20,516 |
| 23 years | $23,856 |
| 25 years | $27,197 |
Top Solar Installers in Farmersville
Many homeowners decide to use a solar installation company since trying to put up solar panels yourself can be hard. The expertise that solar installers provide can be useful as well, particularly if you aren't sure what kind of solar equipment you need.
If you're on the hunt for a solar company in Farmersville, the EcoWatch team has organized 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 Farmersville
Factors that Affect Solar Panel Costs in Farmersville
While the average cost of a solar system in Farmersville is $14,556, your actual cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
When it comes to estimating the cost of solar panels in Farmersville, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can determine by looking at past energy bills. Your overall cost can increase by around $2,690 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you're looking to get 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
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Farmersville homeowners opt to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also adds to your overall costs, so it's important to include that in your estimate as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the massive popularity of sustainable energy solutions in Farmersville, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in Farmersville have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $20,641 | 9.1 years |
| 8 kW | $2.74 | $15,365 | $27,823 | 8.9 years |
| 10 kW | $2.69 | $18,830 | $35,155 | 8.7 years |
| 12 kW | $2.64 | $22,144 | $42,638 | 8.5 years |
| 14 kW | $2.58 | $25,308 | $50,271 | 8.4 years |
| 16 kW | $2.53 | $28,320 | $58,056 | 8.2 years |
| 18 kW | $2.47 | $31,182 | $65,990 | 8.0 years |
| 20 kW | $2.42 | $33,894 | $74,076 | 7.8 years |
How to Save on Solar Panels
The solar panel company you choose will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, such as:
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases provide good-quality solar panel installation and expertise.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. While there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of options before making your decision.
- Contract: Before signing a contract with a solar company, make sure to read it through carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
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 Farmersville, TX Solar Cost FAQs
How much does it cost to install solar panels in Farmersville?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly 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 other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Is it worth going solar in Farmersville?
Solar panels can be a great investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires 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.