Solar Panel Cost Guide in Greenville, TX (2023 Update)
- Greenville Solar Installation Cost: $14,650
- 25-Year Savings: $25,431
- Payback Period: 9.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Greenville
We go over average solar pricing in Greenville.
In Greenville, solar panels cost about 2.69 per watt on average. Since a 7.8-kW system is needed to cover the energy usage of a typical home in Greenville, the average price of going solar will be about $14,650 after claiming the federal solar tax credit of 30%.
The true price you pay can go higher or lower than the average in Greenville depending on several factors, such as the type of solar panels you choose and the solar installer you hire. Many homeowners find going solar is a rewarding investment. The average homeowner in Greenville can save around $20,000 on their power bills over 20 years.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Greenville
| Year | Return on Investment |
|---|---|
| 1 years | $-13,047 |
| 3 years | $-9,840 |
| 5 years | $-6,634 |
| 7 years | $-3,427 |
| 9 years | $-221 |
| 11 years | $2,986 |
| 13 years | $6,192 |
| 15 years | $9,398 |
| 17 years | $12,605 |
| 19 years | $15,811 |
| 21 years | $19,018 |
| 23 years | $22,224 |
| 25 years | $25,431 |
Top Solar Installers in Greenville
Many homeowners choose to hire a solar panel installer since trying to install solar panels yourself can be a lot of work. Companies can also provide access to a large variety of the best solar panels and help you choose which one will be best for your family.
There are various licensed solar professionals that can help you install your solar panels. 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 Greenville
Factors that Affect Solar Panel Costs in Greenville
There are several factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's important to accurately assess 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 pick also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you want to install 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
If paying for solar panels in cash is out of reach, solar loans are a popular choice because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. Although solar loans make going solar more accessible for Greenville homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can affect how much you pay. Greenville's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $19,172 | 9.5 years |
| 8 kW | $2.74 | $15,365 | $25,864 | 9.3 years |
| 10 kW | $2.69 | $18,830 | $32,707 | 9.1 years |
| 12 kW | $2.64 | $22,144 | $39,700 | 9.0 years |
| 14 kW | $2.58 | $25,308 | $46,844 | 8.8 years |
| 16 kW | $2.53 | $28,320 | $54,138 | 8.6 years |
| 18 kW | $2.47 | $31,182 | $61,583 | 8.4 years |
| 20 kW | $2.42 | $33,894 | $69,179 | 8.2 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Greenville, 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:
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases provide quality solar panel installation and expertise.
- Installation Process: When going solar, it's necessary to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process works and the project completion timeline.
- Contract: When looking through your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
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 Greenville, TX Solar Cost FAQs
What is the average cost of installing solar panels in Greenville?
This is a hard question to answer precisely, because the cost depends on many 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. 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. 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 Greenville?
A solar panel system isn't free in Greenville, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is making the switch to solar worth it?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Greenville?
On average, solar panels can last 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 larger 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.