Solar Panel Cost Guide in Hondo, TX (2023 Update)
- Hondo Solar Installation Cost: $14,047
- 25-Year Savings: $24,087
- Payback Period: 9.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Hondo
Find out what the average cost of a solar system is in Hondo.
The national average cost of solar panels is $2.66 per watt, but in Hondo it's 2.69 per watt. Because a 7.5-kW system is needed to cover the energy usage of a typical home in Hondo, the average price of going solar will be about $14,047 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy consumption, the type of solar system you want, your solar contractor and more. For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Hondo see about $19,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Hondo that can help you get a more accurate cost estimate for your home.
Solar savings over time in Hondo
| Year | Return on Investment |
|---|---|
| 1 years | $-12,522 |
| 3 years | $-9,471 |
| 5 years | $-6,420 |
| 7 years | $-3,370 |
| 9 years | $-319 |
| 11 years | $2,732 |
| 13 years | $5,782 |
| 15 years | $8,833 |
| 17 years | $11,884 |
| 19 years | $14,934 |
| 21 years | $17,985 |
| 23 years | $21,036 |
| 25 years | $24,087 |
Top Solar Installers in Hondo
Although you can install solar panels yourself, it takes extra time and handiness. Because of that, the majority of homeowners choose a solar panel installer. Plus, if you're unsure what brand of solar panels and equipment you need, a solar installer can help you find the right equipment for you after a site survey and consultation.
If you'd like to start using solar energy but still aren't sure which solar company to go with, here are our suggestions for providers in Hondo:
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 Hondo
Factors that Affect Solar Panel Costs in Hondo
The cost of installing a solar system in Hondo can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,690. The model of solar panels and equipment you choose is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Hondo to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in a higher cost over time because of interest. 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're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can influence the cost. Hondo's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Hondo have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $2.80 | $11,750 | $18,915 | 9.6 years |
| 8 kW | $2.74 | $15,365 | $25,521 | 9.4 years |
| 10 kW | $2.69 | $18,830 | $32,278 | 9.2 years |
| 12 kW | $2.64 | $22,144 | $39,186 | 9.0 years |
| 14 kW | $2.58 | $25,308 | $46,244 | 8.8 years |
| 16 kW | $2.53 | $28,320 | $53,453 | 8.7 years |
| 18 kW | $2.47 | $31,182 | $60,813 | 8.5 years |
| 20 kW | $2.42 | $33,894 | $68,323 | 8.3 years |
How to Save on Solar Panels
There are many companies to choose from in Hondo, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Though reading through a contract can take a lot of time, 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.
- Solar Panel Brands: Different companies will offer various brands and kinds of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Installation Process: Make sure you're on the same page with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases offer good-quality solar panel installation and expertise.
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 Hondo, TX Solar Cost FAQs
How much does it cost to install solar panels in Hondo?
The average cost of solar panels in Hondo is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Hondo?
Solar panels aren't free in Hondo, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can solar panels eliminate my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,022.17 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a 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 cover 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.