Solar Panel Cost Guide in McKinney, TX (2023 Update)
- McKinney Solar Installation Cost: $14,563
- 25-Year Savings: $23,392
- Payback Period: 9.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in McKinney
Find out what the average cost of installing solar panels is in McKinney.
The national average cost of solar panels is $2.66 per watt, but in McKinney it's 2.69 per watt. The average solar panel system size in McKinney is around 7.7 kilowatts, meaning a cost of about $14,556 for a solar installation, or $20,815 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 will differ based on your household energy use, the type of equipment you want to get, your solar contractor and more. Even with the significant initial cost, the average McKinney homeowner can save around $19,000 on their power bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a vetted solar installer in McKinney for a personalized quote.
Solar savings over time in McKinney
| Year | Return on Investment |
|---|---|
| 1 years | $-13,223 |
| 3 years | $-10,542 |
| 5 years | $-7,861 |
| 7 years | $-5,180 |
| 9 years | $-2,499 |
| 11 years | $181 |
| 13 years | $2,862 |
| 15 years | $5,543 |
| 17 years | $8,224 |
| 19 years | $10,905 |
| 21 years | $13,585 |
| 23 years | $16,266 |
| 25 years | $18,947 |
Top Solar Installers in McKinney
Trying to install solar panels on your own can be a difficult task, which is why using a solar installation company is a good option for many homeowners. Plus, if you aren't sure what type of solar panels and equipment you need, a solar installer can help you figure that out after a site survey and consultation.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:
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 McKinney
Factors that Affect Solar Panel Costs in McKinney
There are several factors that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. There are several different solar panel brands and the one you pick also affects the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in McKinney have solar loans, which reduce the initial cost of installing solar. You'll have to consider the long-term cost of financing options, including the amount of 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The last major cost factor you should take into consideration is the installer you choose. Given the massive popularity of sustainable energy solutions in McKinney, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. Some companies 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 find a 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 | $2.80 | $11,750 | $17,695 | 10.0 years |
| 8 kW | $2.74 | $15,365 | $23,895 | 9.8 years |
| 10 kW | $2.69 | $18,830 | $30,246 | 9.6 years |
| 12 kW | $2.64 | $22,144 | $36,747 | 9.4 years |
| 14 kW | $2.58 | $25,308 | $43,398 | 9.2 years |
| 16 kW | $2.53 | $28,320 | $50,201 | 9.0 years |
| 18 kW | $2.47 | $31,182 | $57,154 | 8.8 years |
| 20 kW | $2.42 | $33,894 | $64,257 | 8.6 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
- Contract: Look through the contract terms carefully to make sure you understand the overall cost, project completion timeline incentives and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of options before making your decision.
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 McKinney, TX Solar Cost FAQs
How much does it cost to install solar panels in McKinney?
This is a difficult 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 other solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Are solar panels free in McKinney?
You can't get solar panels for free in McKinney. 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 solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $981.51 per year.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can keep using them at a lower efficiency.
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.