Solar Panel Cost Guide in Groesbeck, TX (2024 Update)
- Groesbeck Solar Installation Cost: $17,785
- 25-Year Savings: $20,381
- Payback Period: 12.8 Years
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Average Cost of Solar Panels in Groesbeck
Let’s have a look at the average cost of solar panels in Groesbeck.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Groesbeck, the typical cost of a solar system is 3 per watt.The average solar panel system size in Groesbeck is around 7.6 kilowatts, meaning a cost of about $17,785 for a solar installation, or $25,433 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Groesbeck homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Despite the significant upfront cost, the average Groesbeck homeowner can save around $17,000 on their energy bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a highly rated solar installer in your area for a personalized quote.
Solar savings over time in Groesbeck
| Year | Return on Investment |
|---|---|
| 1 years | $-16,382 |
| 3 years | $-13,575 |
| 5 years | $-10,769 |
| 7 years | $-7,962 |
| 9 years | $-5,156 |
| 11 years | $-2,350 |
| 13 years | $457 |
| 15 years | $3,263 |
| 17 years | $6,069 |
| 19 years | $8,876 |
| 21 years | $11,682 |
| 23 years | $14,488 |
| 25 years | $17,295 |
Top Solar Installers in Groesbeck
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Going with a solar company can make converting to solar power much easier. Another good thing about going with a top solar installer is that it'll likely provide warranties and free repairs, which help protect your solar system over time.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some near you:
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Groesbeck
Factors that Affect Solar Panel Costs in Groesbeck
Even though the average cost of a solar system in Groesbeck is $17,785, your final cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the price of a solar energy system in Groesbeck, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past power bills. Your total cost can increase by about $3,330 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Groesbeck, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of 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
Many homeowners find the average cost of solar in Groesbeck to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in paying more over time due to interest.However, the interest on solar loans also increases your all-in costs, so it’s vital to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installer you choose will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor.The company’s size sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.46 | $14,545 | $12,780 | 13.3 years |
| 8 kW | $3.40 | $19,021 | $17,414 | 13.1 years |
| 10 kW | $3.33 | $23,310 | $22,233 | 12.8 years |
| 12 kW | $3.26 | $27,413 | $27,239 | 12.5 years |
| 14 kW | $3.20 | $31,329 | $32,432 | 12.3 years |
| 16 kW | $3.13 | $35,058 | $37,811 | 12.0 years |
| 18 kW | $3.06 | $38,601 | $43,376 | 11.8 years |
| 20 kW | $3.00 | $41,958 | $49,128 | 11.5 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Installation Process: Make sure you’re aligned with the company in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating your electrical system or roof.
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Groesbeck, TX Solar Cost FAQs
How much does it cost to install solar panels in Groesbeck?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $16,650 for a 5-kW system and $33,300 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Groesbeck?
Solar panels aren’t free in Groesbeck, 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 you can take advantage of.
Do solar panels increase the value of your home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Groesbeck is currently $205,139, which means you could be looking at a value of about $8,411 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Groesbeck is a rewarding investment.
How long do solar panels last in Groesbeck?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.