Solar Panel Cost Guide in McGregor, TX (2024 Update)
- McGregor Solar Installation Cost: $17,605
- 25-Year Savings: $17,150
- Payback Period: 14.0 Years
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Average Cost of Solar Panels in McGregor
Find out what the average cost of solar panel installation is in McGregor.
In McGregor, solar panels cost about 3 per watt on average.Using this figure, a typical 7.6-kW system would cost about $17,605 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average McGregor homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $16,000 over 20 years on utility bills.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in McGregor
| Year | Return on Investment |
|---|---|
| 1 years | $-16,424 |
| 3 years | $-14,061 |
| 5 years | $-11,699 |
| 7 years | $-9,337 |
| 9 years | $-6,975 |
| 11 years | $-4,612 |
| 13 years | $-2,250 |
| 15 years | $112 |
| 17 years | $2,474 |
| 19 years | $4,837 |
| 21 years | $7,199 |
| 23 years | $9,561 |
| 25 years | $11,923 |
Top Solar Installers in McGregor
When going solar, many homeowners decide to use a solar installation company since DIY solar panel installation can be a difficult project. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance in the long run.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some nearby:
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 McGregor
Factors that Affect Solar Panel Costs in McGregor
Even though the average cost of a solar system in McGregor is $17,605, your actual cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,330.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 choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your power bills. In addition, extra products, like solar batteries, can bring your total well above the McGregor average.
Solar Financing Terms
Many homeowners find the average cost of solar in McGregor to be prohibitively expensive, 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 for most homeowners, but they also lead to a higher cost over time because of interest.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installation company you select will affect your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in McGregor know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $3.46 | $14,545 | $10,377 | 14.6 years |
| 8 kW | $3.40 | $19,021 | $14,209 | 14.3 years |
| 10 kW | $3.33 | $23,310 | $18,228 | 14.0 years |
| 12 kW | $3.26 | $27,413 | $22,433 | 13.7 years |
| 14 kW | $3.20 | $31,329 | $26,824 | 13.5 years |
| 16 kW | $3.13 | $35,058 | $31,402 | 13.2 years |
| 18 kW | $3.06 | $38,601 | $36,167 | 12.9 years |
| 20 kW | $3.00 | $41,958 | $41,118 | 12.6 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- 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.
- 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 completion timeline.
- Reputation: Your solar installer should have a solid reputation as a company and have proven 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 satisfied reviews from previous customers.
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 McGregor, TX Solar Cost FAQs
What is the average cost of installing solar panels in McGregor?
The average cost of solar panels in McGregor is about $16,650 for a 5-kW system and $33,300 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in McGregor?
Leasing solar panels can be an appealing choice, because it often 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Do solar panels increase the value of your home?
Solar panels can increase your home value remarkably 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 a solar system."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.