Solar Panel Cost Guide in Krum, TX (2024 Update)
- Krum Solar Installation Cost: $17,850
- 25-Year Savings: $19,570
- Payback Period: 13.1 Years
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Average Cost of Solar Panels in Krum
We break down average solar pricing in Krum.
The average cost of a solar system in Krum is 3 per watt.To cover the typical energy usage of the average home in Krum, most homeowners require a 7.7-kilowatt system. Using the figure above, a solar installation costs about $17,850, or $25,526 before the federal solar tax credit of 0 is applied.
These figures are just estimates, and how much solar costs for you will vary based on factors unique to your home and what company you go with.But, after you've paid the upfront cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $17,000 over 20 years on energy bills.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Krum
| Year | Return on Investment |
|---|---|
| 1 years | $-16,407 |
| 3 years | $-13,520 |
| 5 years | $-10,633 |
| 7 years | $-7,746 |
| 9 years | $-4,859 |
| 11 years | $-1,973 |
| 13 years | $914 |
| 15 years | $3,801 |
| 17 years | $6,688 |
| 19 years | $9,575 |
| 21 years | $12,461 |
| 23 years | $15,348 |
| 25 years | $18,235 |
Top Solar Installers in Krum
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Using an installer can make your swap to solar power much easier. Plus, if you aren’t sure what type of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.
If you’d like to make the switch to solar but still aren’t sure which solar system company to go with, here are our suggestions for providers in Krum:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Krum
Factors that Affect Solar Panel Costs in Krum
For many Krum homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Krum, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Krum to be too steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can impact your pricing. Krum’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and go with the company that has the products, warranties and services you’re looking for and also is within your budget.
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 | $12,086 | 13.7 years |
| 8 kW | $3.40 | $19,021 | $16,487 | 13.4 years |
| 10 kW | $3.33 | $23,310 | $21,075 | 13.1 years |
| 12 kW | $3.26 | $27,413 | $25,850 | 12.9 years |
| 14 kW | $3.20 | $31,329 | $30,811 | 12.6 years |
| 16 kW | $3.13 | $35,058 | $35,958 | 12.3 years |
| 18 kW | $3.06 | $38,601 | $41,292 | 12.1 years |
| 20 kW | $3.00 | $41,958 | $46,813 | 11.8 years |
How to Save on Solar Panels
The solar installer you choose will affect not only your total 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 consider, such as:
- Reputation: Your solar installer should have a good reputation as a company and have verifiable 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 previous customers.
- Solar Panel Brands: The model of solar panel you need plays a part in which installer you should go with, since different companies provide different panels.
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one indication of a quality company.
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Krum, TX Solar Cost FAQs
How much does it cost to install solar panels in Krum?
The average cost of solar panels in Krum is about $16,650 for a 5-kW system and $33,300 for a 10-kW system before the ITC, but the real cost will depend on things 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 Krum?
You can’t get solar panels for free in Krum. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Krum?
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 many solar panels should I get to power 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 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 buy 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.