Solar Panel Cost Guide in Meadows Place, TX (2024 Update)
- Meadows Place Solar Installation Cost: $17,743
- 25-Year Savings: $22,855
- Payback Period: 11.9 Years
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Average Cost of Solar Panels in Meadows Place
Let’s have a look at the average cost of solar panels in Meadows Place.
The national average cost of solar panels is $2.66 per watt, but in Meadows Place it’s 3 per watt.Using this figure, a typical 7.6-kW system would cost about $17,743 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of installing solar panels can vary quite a bit depending on several factors, such as how many panels you need, your energy consumption and what installation company you go with.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is usually fruitful, with a net average savings of about $20,000 over 20 years on utility bills.
Click the button below to get connected to a highly rated solar panel company in Meadows Place for a customized quote.
Solar savings over time in Meadows Place
| Year | Return on Investment |
|---|---|
| 1 years | $-16,322 |
| 3 years | $-13,479 |
| 5 years | $-10,637 |
| 7 years | $-7,795 |
| 9 years | $-4,953 |
| 11 years | $-2,111 |
| 13 years | $731 |
| 15 years | $3,574 |
| 17 years | $6,416 |
| 19 years | $9,258 |
| 21 years | $12,100 |
| 23 years | $14,942 |
| 25 years | $17,784 |
Top Solar Installers in Meadows Place
Although it's possible to install solar panels yourself, it takes extra effort and expertise. That's one of the reasons most homeowners choose to go with a solar panel installer. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you’d like to go solar but still aren’t certain which solar installer to go with, here are our recommendations for providers 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 Meadows Place
Factors that Affect Solar Panel Costs in Meadows Place
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few primary factors that determine your overall cost in Meadows Place: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation use 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 in the long run on your electric bills. In addition, add-on products, like solar batteries, can bump up your total well above the Meadows Place average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Meadows Place, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installation company you choose will play a role in your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor.Larger national companies generally have lower costs, but some local companies compete with them by offering 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 | $3.46 | $14,545 | $14,769 | 12.4 years |
| 8 kW | $3.40 | $19,021 | $20,064 | 12.2 years |
| 10 kW | $3.33 | $23,310 | $25,547 | 11.9 years |
| 12 kW | $3.26 | $27,413 | $31,215 | 11.7 years |
| 14 kW | $3.20 | $31,329 | $37,071 | 11.5 years |
| 16 kW | $3.13 | $35,058 | $43,112 | 11.2 years |
| 18 kW | $3.06 | $38,601 | $49,341 | 11.0 years |
| 20 kW | $3.00 | $41,958 | $55,755 | 10.7 years |
How to Save on Solar Panels
There are numerous companies to choose from in Meadows Place, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated 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 good 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 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 $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 like the model 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 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 way to go if you want to maximize your 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 allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
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 larger 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.