Solar Panel Cost Guide in Hereford, TX (Mar 2023)
- Hereford Solar Installation Cost: $13,445
- 25-Year Savings: $25,499
- Payback Period: 8.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Hereford
Let's have a look at the average cost of solar panels in Hereford.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hereford, the average cost of a solar system is 2.69 per watt. To cover the typical energy usage of the average home in Hereford, most homeowners require a 7.1-kilowatt system. Using the figure above, a solar installation costs about $13,445, or $19,226 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of going solar can vary quite a bit depending on multiple factors, such as what size system you need, your energy consumption and what company you go with. Even with the significant 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.
Click the button below to get connected to a reputable solar company in your area for a custom quote.
Solar savings over time in Hereford
| Year | Return on Investment |
|---|---|
| 1 years | $-11,887 |
| 3 years | $-8,771 |
| 5 years | $-5,656 |
| 7 years | $-2,540 |
| 9 years | $575 |
| 11 years | $3,691 |
| 13 years | $6,806 |
| 15 years | $9,922 |
| 17 years | $13,037 |
| 19 years | $16,153 |
| 21 years | $19,268 |
| 23 years | $22,384 |
| 25 years | $25,499 |
Top Solar Installers in Hereford
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Using a solar company can make your swap to solar power much easier. The expertise that solar companies offer can be useful as well, particularly if you don't quite know what type of solar equipment you need.
If you'd like to start using solar energy but still aren't certain which solar system installer to go with, here are our recommendations for providers in Hereford:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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
For many Hereford homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Hereford, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of solar panels in Hereford, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by around $2,690 for each additional kilowatt you need. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your power bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Hereford average.
Solar Financing Terms
Many homeowners find the average cost of solar in Hereford to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to paying more over time because of interest. Though solar loans make switching to solar energy more accessible for Hereford homeowners, they can also raise the total you pay for your system, depending on your interest rate. 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 (coming 2022)
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.