Solar Panel Cost Guide in Laredo, TX (2023 Update)
- Laredo Solar Installation Cost: $13,280
- 25-Year Savings: $29,138
- Payback Period: 7.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Laredo
Let's take a look at the average cost of solar in Laredo.
In Laredo, solar panels cost about 2.69 per watt on average. The average solar panel system size in Laredo is around 7.0 kilowatts, meaning a cost of about $13,275 for a solar installation, or $18,983 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of solar system you want, your solar contractor and more. But, once you've paid the initial cost of installation, the savings for most homeowners is quite good, with a net average savings of about $23,000 over 20 years on utility bills.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Laredo
| Year | Return on Investment |
|---|---|
| 1 years | $-11,765 |
| 3 years | $-8,733 |
| 5 years | $-5,702 |
| 7 years | $-2,671 |
| 9 years | $361 |
| 11 years | $3,392 |
| 13 years | $6,424 |
| 15 years | $9,455 |
| 17 years | $12,486 |
| 19 years | $15,518 |
| 21 years | $18,549 |
| 23 years | $21,581 |
| 25 years | $24,612 |
Top Solar Installers in Laredo
Although you can install solar panels by yourself, it takes extra time and expertise. That's why the majority of homeowners choose to go with a solar panel installer. The expertise that solar companies offer can be helpful as well, particularly if you aren't sure what brand of solar equipment would be right for your home.
If you're searching for a solar installer in Laredo, the EcoWatch team has compiled a list of our top suggestions here:
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 Laredo
Factors that Affect Solar Panel Costs in Laredo
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Laredo: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The kind of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions 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
Most solar installers in Laredo have solar loans, which reduce your upfront costs of installing a solar system. You'll have to consider the long-term cost of loans, 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 principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Laredo is the company you hire to install your PV system. Similar to choosing a company to build a deck or pool, for example, there are plenty of solar installers that provide a range of services at different costs. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $24,336 | 8.1 years |
| 8 kW | $2.74 | $15,365 | $32,749 | 8.0 years |
| 10 kW | $2.69 | $18,830 | $41,313 | 7.8 years |
| 12 kW | $2.64 | $22,144 | $50,028 | 7.7 years |
| 14 kW | $2.58 | $25,308 | $58,893 | 7.5 years |
| 16 kW | $2.53 | $28,320 | $67,909 | 7.4 years |
| 18 kW | $2.47 | $31,182 | $77,075 | 7.2 years |
| 20 kW | $2.42 | $33,894 | $86,393 | 7.0 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Different companies will have different brands and kinds of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, completion timeline rebates and warranties.
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 Laredo, TX Solar Cost FAQs
What is the average cost of installing solar panels in Laredo?
This is a hard question to answer precisely, 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 consumption. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Are solar panels free in Laredo?
You can't get solar panels for free in Laredo. 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.
Do solar panels increase the value of your home?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Laredo?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.