Solar Panel Cost Guide in Melissa, TX (2023 Update)
- Melissa Solar Installation Cost: $14,563
- 25-Year Savings: $24,974
- Payback Period: 9.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Melissa
Let's have a look at the average cost of solar in Melissa.
The national average cost of solar panels is $2.66 per watt, but in Melissa it's 2.69 per watt. The average solar panel system size in Melissa 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.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of making the switch to solar can vary quite a bit depending on several factors, such as what size system you need, your energy usage and what company you go with. With average savings of about $19,000 on electricity bills over 20 years, many homeowners in Melissa find investing in solar has a decent ROI.
To get a free estimate from a highly rated solar company in Melissa, you can click the button below.
Solar savings over time in Melissa
| Year | Return on Investment |
|---|---|
| 1 years | $-13,133 |
| 3 years | $-10,272 |
| 5 years | $-7,412 |
| 7 years | $-4,552 |
| 9 years | $-1,691 |
| 11 years | $1,169 |
| 13 years | $4,030 |
| 15 years | $6,890 |
| 17 years | $9,751 |
| 19 years | $12,611 |
| 21 years | $15,472 |
| 23 years | $18,332 |
| 25 years | $21,193 |
Top Solar Installers in Melissa
Many homeowners opt for a solar installation company since trying to install solar panels on your own can be hard. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and system component replacements.
If you'd like to make the switch to solar but still aren't certain which solar installer to go with, here are our recommendations for providers 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 Melissa
Factors that Affect Solar Panel Costs in Melissa
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that affect your total cost in Melissa: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are provided by most installers in Melissa, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. 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 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 securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar panel installer you pick will play a role in your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $18,923 | 9.6 years |
| 8 kW | $2.74 | $15,365 | $25,532 | 9.4 years |
| 10 kW | $2.69 | $18,830 | $32,291 | 9.2 years |
| 12 kW | $2.64 | $22,144 | $39,201 | 9.0 years |
| 14 kW | $2.58 | $25,308 | $46,262 | 8.8 years |
| 16 kW | $2.53 | $28,320 | $53,474 | 8.7 years |
| 18 kW | $2.47 | $31,182 | $60,836 | 8.5 years |
| 20 kW | $2.42 | $33,894 | $68,348 | 8.3 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
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 Melissa, TX Solar Cost FAQs
What is the average cost of installing solar panels in Melissa?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly 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 extra solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost 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.
Is going solar worth it?
Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already pretty low, solar panels might not be for you.
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 usually produce about 250 to 400 watt-hours per hour, the average household 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.