Solar Panel Cost Guide in Groves, TX (2024 Update)
- Groves Solar Installation Cost: $17,207
- 25-Year Savings: $21,420
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in Groves
Find out what the average cost of installing solar panels is in Groves.
In Groves, solar panels cost about 3 per watt on average.The average solar panel system size in Groves is around 7.4 kilowatts, meaning a cost of about $17,207 for a solar installation, or $24,606 before the 0 federal solar tax credit is applied.
These figures are just averages, and your own solar costs will vary based on the amount of energy your home requires and what company you want to go with.For many homeowners, the upfront cost of solar power is worth paying. On average homeowners in Groves see about $18,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a vetted solar company in Groves that can help you get a more accurate cost estimate for your home.
Solar savings over time in Groves
| Year | Return on Investment |
|---|---|
| 1 years | $-15,908 |
| 3 years | $-13,311 |
| 5 years | $-10,714 |
| 7 years | $-8,117 |
| 9 years | $-5,520 |
| 11 years | $-2,923 |
| 13 years | $-326 |
| 15 years | $2,272 |
| 17 years | $4,869 |
| 19 years | $7,466 |
| 21 years | $10,063 |
| 23 years | $12,660 |
| 25 years | $15,257 |
Top Solar Installers in Groves
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Going with a solar company can make swapping over to solar power much easier. Local solar installation companies can also help you maximize your return on investment by walking you through any local incentives you can benefit from and by providing warranties and repairs.
There are several licensed solar professionals that can install solar panels for you. 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
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 Groves
Factors that Affect Solar Panel Costs in Groves
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Groves: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,330.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Groves average.
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 Groves homeowners opt to finance their solar panel systems to make paying for solar more affordable.Although solar loans make going solar more accessible for Groves homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the massive popularity of green energy solutions in Groves, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Groves have more knowledge about local solar incentives and can help you take advantage 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 | $3.46 | $14,545 | $14,162 | 12.7 years |
| 8 kW | $3.40 | $19,021 | $19,256 | 12.4 years |
| 10 kW | $3.33 | $23,310 | $24,536 | 12.2 years |
| 12 kW | $3.26 | $27,413 | $30,003 | 11.9 years |
| 14 kW | $3.20 | $31,329 | $35,656 | 11.7 years |
| 16 kW | $3.13 | $35,058 | $41,496 | 11.4 years |
| 18 kW | $3.06 | $38,601 | $47,522 | 11.2 years |
| 20 kW | $3.00 | $41,958 | $53,735 | 11.0 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 challenge, we have some tips to help you, such as:
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one mark of a good company.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
- 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 the terms of the warranty.
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 Groves, TX Solar Cost FAQs
How much does it cost to install solar panels in Groves?
The average cost of solar panels in Groves is about $16,650 for a 5-kW system and $33,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $956.93 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much 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 get 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.