Solar Panel Cost Guide in Mcgregor, TX (Mar 2023)
- Mcgregor Solar Installation Cost: $14,217
- 25-Year Savings: $17,155
- Payback Period: 11.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Mcgregor
See how much it might cost to switch to solar power in Mcgregor.
In Mcgregor, solar panels cost about 2.69 per watt on average. To account for the typical energy usage of the average home in Mcgregor, most homeowners require a 7.5-kilowatt system. Using the figure above, a solar installation costs about $14,217, or $20,330 before the federal solar tax credit of 30% is applied.
These figures are just averages, and how much solar costs for you will most likely look different based on factors unique to your home and what company you go with. But, after you've paid the initial cost of installation, the savings for most homeowners is typically good, with a net average savings of about $16,000 over 20 years on power bills.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Mcgregor
| Year | Return on Investment |
|---|---|
| 1 years | $-12,962 |
| 3 years | $-10,452 |
| 5 years | $-7,942 |
| 7 years | $-5,433 |
| 9 years | $-2,923 |
| 11 years | $-413 |
| 13 years | $2,096 |
| 15 years | $4,606 |
| 17 years | $7,116 |
| 19 years | $9,625 |
| 21 years | $12,135 |
| 23 years | $14,645 |
| 25 years | $17,155 |
Top Solar Installers in Mcgregor
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Going with a solar panel installer can make converting to solar power much easier. Plus, if you aren't sure what kind of solar panels and equipment you need, a solar expert can help you figure that out after a site survey and consultation.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Mcgregor
Factors that Affect Solar Panel Costs in Mcgregor
There are many criteria that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
Solar 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 gauge the size of the solar energy system needed for your home by figuring out your typical energy use. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Mcgregor, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many Mcgregor homeowners opt to finance their solar panel systems to offset upfront costs. 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
Lastly, the company you choose to install your solar panel system can affect the cost. Mcgregor's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $13,173 | 11.8 years |
| 8 kW | $2.74 | $15,365 | $17,865 | 11.6 years |
| 10 kW | $2.69 | $18,830 | $22,708 | 11.3 years |
| 12 kW | $2.64 | $22,144 | $27,701 | 11.1 years |
| 14 kW | $2.58 | $25,308 | $32,846 | 10.9 years |
| 16 kW | $2.53 | $28,320 | $38,140 | 10.7 years |
| 18 kW | $2.47 | $31,182 | $43,586 | 10.4 years |
| 20 kW | $2.42 | $33,894 | $49,182 | 10.2 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: Before you sign a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
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 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 $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the type 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 option if you can't pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.