Solar Panel Cost Guide in Meadows Place, TX (2023 Update)
- Meadows Place Solar Installation Cost: $14,333
- 25-Year Savings: $22,855
- Payback Period: 9.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Meadows Place
Find out what the average cost of a solar system is in Meadows Place.
The average cost of a solar system in Meadows Place is 2.69 per watt. Since a 7.6-kW system is needed to cover the energy needs of a typical home in Meadows Place, the average price of going solar will be about $14,330 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of going solar can vary depending on a few factors, such as how many panels you need, your energy consumption and what installation company you go with. With typical savings of about $20,000 on utility bills over 20 years, many homeowners in Meadows Place find installing solar panels can pay off big.
You can click the button below to get connected with a top solar installer in Meadows Place that can help you get a more accurate cost estimate for your home.
Solar savings over time in Meadows Place
| Year | Return on Investment |
|---|---|
| 1 years | $-12,912 |
| 3 years | $-10,069 |
| 5 years | $-7,227 |
| 7 years | $-4,385 |
| 9 years | $-1,543 |
| 11 years | $1,299 |
| 13 years | $4,141 |
| 15 years | $6,984 |
| 17 years | $9,826 |
| 19 years | $12,668 |
| 21 years | $15,510 |
| 23 years | $18,352 |
| 25 years | $21,194 |
Top Solar Installers in Meadows Place
When making the switch to solar, many homeowners prefer to hire a solar installation company since DIY solar panel installation can be a challenging project. Some solar installers, especially local ones, can help you take advantage of incentives in Meadows Place, therefore optimizing your ROI.
If you're on the hunt for a solar installer in Meadows Place, the EcoWatch team has put together 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 Meadows Place
Factors that Affect Solar Panel Costs in Meadows Place
There are many criteria that can play into your solar system 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
When it comes to estimating the cost of a solar system in Meadows Place, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can figure out by looking at past power bills. Your overall cost can increase by about $2,690 for each additional kilowatt you need. There are several different solar panel brands and the one you choose also changes the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you choose 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
If paying for a solar system out of pocket is difficult, solar loans are a solid option because they lower your upfront costs and allow you to pay for your system over five to seven years on average. However, the interest on solar loans also adds to your overall costs, so it's vital to consider that as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you get to install your solar system can affect the cost. Meadows Place's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that offers the products, warranties and services you're looking for and also fits 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 | $17,564 | 10.0 years |
| 8 kW | $2.74 | $15,365 | $23,720 | 9.8 years |
| 10 kW | $2.69 | $18,830 | $30,027 | 9.6 years |
| 12 kW | $2.64 | $22,144 | $36,484 | 9.4 years |
| 14 kW | $2.58 | $25,308 | $43,092 | 9.2 years |
| 16 kW | $2.53 | $28,320 | $49,850 | 9.1 years |
| 18 kW | $2.47 | $31,182 | $56,759 | 8.9 years |
| 20 kW | $2.42 | $33,894 | $63,819 | 8.7 years |
How to Save on Solar Panels
The solar installer you choose will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Contract: Before you sign a contract with a solar installer, make sure to read it through carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Different companies have different brands and models of panels. If you want a specific brand, make sure the solar company you're considering has it.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
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 Meadows Place, TX Solar Cost FAQs
What is the average cost of installing solar panels in Meadows Place?
The average cost of solar panels in Meadows Place is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Meadows Place?
Leasing solar panels can be an attractive choice, because it commonly 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 incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Can you sell solar power back to the grid in Meadows Place?
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 energy bills.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.