Solar Panel Cost Guide in Fate, TX (2023 Update)
- Fate Solar Installation Cost: $14,515
- 25-Year Savings: $27,237
- Payback Period: 8.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Fate
Find out what the average cost of solar panels are in Fate.
In Fate, solar panels cost about 2.69 per watt on average. The average solar panel system size in Fate is around 7.7 kilowatts, meaning a cost of about $14,518 for a solar installation, or $20,761 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy consumption, the type of solar panels you choose, your solar contractor and more. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is typically rewarding, with a net average savings of about $21,000 over 20 years on electricity bills.
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Solar savings over time in Fate
| Year | Return on Investment |
|---|---|
| 1 years | $-14,376 |
| 3 years | $-14,098 |
| 5 years | $-13,819 |
| 7 years | $-13,541 |
| 9 years | $-13,263 |
| 11 years | $-12,984 |
| 13 years | $-12,706 |
| 15 years | $-12,428 |
| 17 years | $-12,149 |
| 19 years | $-11,871 |
| 21 years | $-11,593 |
| 23 years | $-11,314 |
| 25 years | $-11,036 |
Top Solar Installers in Fate
Many homeowners decide to hire a solar installation company since installing solar panels on your own can be hard. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and system component replacements.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Fate
Factors that Affect Solar Panel Costs in Fate
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in Fate: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend around $2,690 per kilowatt in Fate. There are many different solar panel brands and the one you pick also affects the cost. Usually, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you're looking to get 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
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are available from most installers in Fate, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also adds to your total costs, so it's vital to keep that in mind as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The final significant cost factor you should keep in mind is the installer you choose. Given the massive popularity of green energy solutions in Fate, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $20,748 | 9.0 years |
| 8 kW | $2.74 | $15,365 | $27,965 | 8.9 years |
| 10 kW | $2.69 | $18,830 | $35,333 | 8.7 years |
| 12 kW | $2.64 | $22,144 | $42,852 | 8.5 years |
| 14 kW | $2.58 | $25,308 | $50,521 | 8.3 years |
| 16 kW | $2.53 | $28,320 | $58,341 | 8.2 years |
| 18 kW | $2.47 | $31,182 | $66,311 | 8.0 years |
| 20 kW | $2.42 | $33,894 | $74,432 | 7.8 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Before signing a contract with a solar installer, make sure to look it over completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: Each company may 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 based on their locations and how much efficiency they need. 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 offerings before making your decision.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two 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 positive reviews from past customers.
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 Fate, TX Solar Cost FAQs
How much does it cost to install solar panels in Fate?
This is a hard 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Fate?
You can't get solar panels for free in Fate. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Fate?
Solar panels can be a good 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 electricity bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.