Solar Panel Cost Guide in Mckinney, TX (Mar 2023)
- Mckinney Solar Installation Cost: $14,556
- 25-Year Savings: $23,400
- Payback Period: 9.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Mckinney
Let's take a look at the average cost of solar panels in Mckinney.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Mckinney, the typical cost of a solar system is 2.69 per watt. The average Mckinney homeowner needs a 7.7-kilowatt system, which would cost about $14,556 with the federal tax credit, or $20,815 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of making the switch to solar can vary based on a few factors, such as how many panels you need, your energy usage and what solar installer you go with. With typical savings of about $19,000 on utility bills over 20 years, many homeowners in Mckinney find investing in solar can pay off big.
Click the button below to get connected to a vetted solar installer in your area for a personalized quote.
Solar savings over time in Mckinney
| Year | Return on Investment |
|---|---|
| 1 years | $-13,037 |
| 3 years | $-10,001 |
| 5 years | $-6,964 |
| 7 years | $-3,928 |
| 9 years | $-892 |
| 11 years | $2,145 |
| 13 years | $5,181 |
| 15 years | $8,218 |
| 17 years | $11,254 |
| 19 years | $14,291 |
| 21 years | $17,327 |
| 23 years | $20,363 |
| 25 years | $23,400 |
Top Solar Installers in Mckinney
Many homeowners opt for a solar panel installer since trying to install solar panels by yourself can be challenging. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and system component replacements.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Mckinney
Factors that Affect Solar Panel Costs in Mckinney
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Mckinney: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,690 per kilowatt in Mckinney. There are several different solar panel brands and the one you pick also changes the cost. Generally, the brands that are more efficient tend to also be more expensive. Additionally, 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
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Mckinney homeowners decide to finance their solar panel systems to make going solar more affordable. Even though solar loans make adopting solar energy more accessible for Mckinney homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installation company you choose will influence your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Mckinney know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. 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 | $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
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 select the right company for you, here are some tips to keep in mind:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can research your installer's reputation is by reading reviews.
- Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
- Installation Process: When going solar, it's important to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process works and the completion timeline.
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 Mckinney, TX Solar Cost FAQs
What is the average cost of installing 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.
Is cost the most important thing to consider when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Mckinney have a net metering program?
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 offer you credit toward your future electricity bills.
How long do solar panels last in Mckinney?
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 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.