Solar Panel Cost Guide in Hereford, TX (2023 Update)
- Hereford Solar Installation Cost: $13,439
- 25-Year Savings: $25,505
- Payback Period: 8.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hereford
We break down average solar pricing in Hereford.
Although the national average of solar panels is $2.66 per watt, solar panels in Hereford generally cost around 2.69. To account for the typical energy needs of the average home in Hereford, most homeowners require a 7.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $13,445, or $19,226 before the federal solar tax credit of 30% is applied.
These figures are only estimates, and your own solar costs will look different based on the amount of energy your home requires and what company you choose to go with. Despite the large upfront cost, the average Hereford homeowner can save around $21,000 on their energy bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a top solar installer in Hereford that can help you get a more accurate cost estimate for your home.
Solar savings over time in Hereford
| Year | Return on Investment |
|---|---|
| 1 years | $-13,309 |
| 3 years | $-13,049 |
| 5 years | $-12,790 |
| 7 years | $-12,530 |
| 9 years | $-12,270 |
| 11 years | $-12,011 |
| 13 years | $-11,751 |
| 15 years | $-11,492 |
| 17 years | $-11,232 |
| 19 years | $-10,972 |
| 21 years | $-10,713 |
| 23 years | $-10,453 |
| 25 years | $-10,193 |
Top Solar Installers in Hereford
When making the switch to solar, many homeowners decide to go with a solar installation company since putting up a solar system yourself can be a difficult project. Companies can also provide access to various kinds of the best solar panels and help you choose which one will be right for you.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
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 Hereford
Factors that Affect Solar Panel Costs in Hereford
While the average cost of a solar system in Hereford is $13,445, your actual cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,690. The type of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular choice because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. Though solar loans make adopting solar energy more accessible for Hereford 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 solar company you choose to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies in Hereford, and each can charge different amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies compete with them by promoting 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 | $20,990 | 9.0 years |
| 8 kW | $2.74 | $15,365 | $28,288 | 8.8 years |
| 10 kW | $2.69 | $18,830 | $35,737 | 8.6 years |
| 12 kW | $2.64 | $22,144 | $43,336 | 8.5 years |
| 14 kW | $2.58 | $25,308 | $51,086 | 8.3 years |
| 16 kW | $2.53 | $28,320 | $58,987 | 8.1 years |
| 18 kW | $2.47 | $31,182 | $67,038 | 7.9 years |
| 20 kW | $2.42 | $33,894 | $75,240 | 7.8 years |
How to Save on Solar Panels
The solar company you choose will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, such as:
- Solar Panel Brands: Different companies offer different brands and types of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Installation Process: When making the switch to solar, it's necessary to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the project completion timeline.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can be 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
EcoWatch's Hereford, TX Solar Cost FAQs
How much does it cost to install solar panels in Hereford?
This is a tough question to answer exactly, because the cost depends on a few different 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. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Hereford?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Does Hereford have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.
How long do solar panels last in Hereford?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using 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.