Solar Panel Cost Guide in Groesbeck, TX (2023 Update)
- Groesbeck Solar Installation Cost: $14,367
- 25-Year Savings: $20,381
- Payback Period: 10.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Groesbeck
Find out how much it might cost to go solar in Groesbeck.
While the national average of solar panels is $2.66 per watt, solar panels in Groesbeck generally cost around 2.69. Since a 7.6-kW system is needed to cover the energy costs of a typical home in Groesbeck, the average price of going solar will be about $14,367 after claiming the federal solar tax credit of 30%.
How much you pay can be higher or lower than the average in Groesbeck depending on a few factors, such as the model of solar panels you choose and the solar company you hire. Many homeowners find installing a solar panel system is a sound investment. The average homeowner in Groesbeck can save around $17,000 on their energy bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Groesbeck
| Year | Return on Investment |
|---|---|
| 1 years | $-12,977 |
| 3 years | $-10,198 |
| 5 years | $-7,418 |
| 7 years | $-4,638 |
| 9 years | $-1,858 |
| 11 years | $922 |
| 13 years | $3,702 |
| 15 years | $6,482 |
| 17 years | $9,261 |
| 19 years | $12,041 |
| 21 years | $14,821 |
| 23 years | $17,601 |
| 25 years | $20,381 |
Top Solar Installers in Groesbeck
Many homeowners choose to hire a solar panel company since trying to install solar panels yourself can be a lot of work. The expertise that solar companies offer can be helpful as well, particularly if you don't quite know what brand of solar equipment would be right for your home.
If you're searching for a solar company in Groesbeck, we've compiled 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
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 Groesbeck
Factors that Affect Solar Panel Costs in Groesbeck
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that determine your overall cost in Groesbeck: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. There are a lot of different solar panel brands and the one you pick also changes the cost. Generally, the brands that have better 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
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Groesbeck homeowners opt to finance their solar panel systems to offset upfront costs. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the massive popularity of sustainable energy solutions in Groesbeck, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $15,576 | 10.7 years |
| 8 kW | $2.74 | $15,365 | $21,069 | 10.5 years |
| 10 kW | $2.69 | $18,830 | $26,713 | 10.3 years |
| 12 kW | $2.64 | $22,144 | $32,508 | 10.1 years |
| 14 kW | $2.58 | $25,308 | $38,453 | 9.9 years |
| 16 kW | $2.53 | $28,320 | $44,549 | 9.7 years |
| 18 kW | $2.47 | $31,182 | $50,795 | 9.5 years |
| 20 kW | $2.42 | $33,894 | $57,192 | 9.3 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, 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:
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- 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.
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
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 Groesbeck, TX Solar Cost FAQs
What is the average cost of installing solar panels in Groesbeck?
The average cost of solar panels in Groesbeck is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Groesbeck?
A solar panel system isn't free in Groesbeck, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How will installing solar panels impact the value of my home?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How many solar panels should I get to power 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 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 install between 20 and 35 panels to account for 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.