Solar Panel Cost Guide in Mineral Wells, TX (Mar 2023)
- Mineral Wells Solar Installation Cost: $14,122
- 25-Year Savings: $16,216
- Payback Period: 11.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Mineral Wells
Find out how much it might cost to make the switch to solar in Mineral Wells.
In Mineral Wells, solar panels cost about 2.69 per watt on average. The average Mineral Wells homeowner needs a 7.5-kilowatt system, which would cost about $14,122 with the federal tax credit, or $20,194 before the 30% tax credit is applied.
The true cost of your system can be higher or lower than the average in Mineral Wells based on several factors, such as the model of solar panels you choose and the solar company you hire. But, after you've paid the initial cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $15,000 over 20 years on energy bills.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Mineral Wells
| Year | Return on Investment |
|---|---|
| 1 years | $-12,909 |
| 3 years | $-10,482 |
| 5 years | $-8,055 |
| 7 years | $-5,628 |
| 9 years | $-3,200 |
| 11 years | $-773 |
| 13 years | $1,654 |
| 15 years | $4,081 |
| 17 years | $6,508 |
| 19 years | $8,935 |
| 21 years | $11,362 |
| 23 years | $13,789 |
| 25 years | $16,216 |
Top Solar Installers in Mineral Wells
Although it's possible to install solar panels by yourself, it involves extra energy and handiness. That's why almost all homeowners choose to hire a solar panel installer. Plus, if you're unsure what kind of solar panels and equipment you want, a solar expert can help you figure that out after a site survey and consultation.
If you're searching for a solar company in Mineral Wells, we've compiled 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 (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 Mineral Wells
Factors that Affect Solar Panel Costs in Mineral Wells
There are several factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Mineral Wells, 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 consumption, which you can figure out by looking at past power bills. Your total cost can increase by about $2,690 for each additional kilowatt you need. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a 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 a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more 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
Many homeowners find the average cost of solar in Mineral Wells to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time because of interest. When considering your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The final key cost factor you should keep in mind is the installer you choose. Given the massive popularity of clean energy solutions in Mineral Wells, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. The company's size sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
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 | $12,517 | 12.1 years |
| 8 kW | $2.74 | $15,365 | $16,991 | 11.9 years |
| 10 kW | $2.69 | $18,830 | $21,616 | 11.6 years |
| 12 kW | $2.64 | $22,144 | $26,391 | 11.4 years |
| 14 kW | $2.58 | $25,308 | $31,316 | 11.2 years |
| 16 kW | $2.53 | $28,320 | $36,393 | 10.9 years |
| 18 kW | $2.47 | $31,182 | $41,620 | 10.7 years |
| 20 kW | $2.42 | $33,894 | $46,997 | 10.5 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Mineral Wells, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Before you sign a contract with a solar installer, make sure to look it over carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Different companies will offer various brands and models of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.
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 Mineral Wells, TX Solar Cost FAQs
What is the average cost of installing solar panels in Mineral Wells?
This is a tough 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 more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Mineral Wells?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How much can I save on power bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Mineral Wells, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Though 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 the amount of energy they produce will have decreased significantly after that point. You can replace them once you've had 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.