Solar Panel Cost Guide in Monahans, TX (Feb 2023)

  • Monahans Solar Installation Cost: $12,804
  • 25-Year Savings: $24,383
  • Payback Period: 8.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Monahans

Let's have a look at the average cost of solar in Monahans.

The national average cost of solar panels is $2.66 per watt, but in Monahans it's $3 per watt. The average solar panel system size in Monahans is around 6.8 kilowatts, meaning a cost of about $12,804 for a solar installation, or $9,475 after the 30% federal solar tax credit is applied.

The actual price you pay can go above or below the average in Monahans based on a variety of factors, such as the kind of solar panels you choose and the solar company you hire. With average savings of about $22,000 on electricity bills over 20 years, many homeowners in Monahans find investing in solar can pay off big.

For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Monahans

Year Return on Investment
1 years $-11,317
3 years $-8,342
5 years $-5,367
7 years $-2,392
9 years $583
11 years $3,558
13 years $6,533
15 years $9,508
17 years $12,483
19 years $15,458
21 years $18,433
23 years $21,408
25 years $24,383

Top Solar Installers in Monahans

Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Hiring a solar company can make your switch to solar power much easier. Plus, if you're unsure what kind of solar panels and equipment you need, a solar expert can help you find the right equipment for you after a site survey and consultation.

You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in Monahans:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • 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 Monahans

Factors that Affect Solar Panel Costs in Monahans

Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that determine your overall cost in Monahans: 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 significant 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 power your household consumes, the larger your system will likely need to be. You can expect to pay around $2,690 per kilowatt in Monahans. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your electric bills. In addition, extra products, such as solar batteries, can bring your total well above the Monahans average.

Solar Financing Terms

For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Monahans, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.

Solar Panel Installation Company

Lastly, the company you get to install your solar system can affect how much you pay. Monahans' solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 $21,055 9.0 years
8 kW $2.74 $15,365 $28,374 8.8 years
10 kW $2.69 $18,830 $35,844 8.6 years
12 kW $2.64 $22,144 $43,465 8.4 years
14 kW $2.58 $25,308 $51,236 8.3 years
16 kW $2.53 $28,320 $59,158 8.1 years
18 kW $2.47 $31,182 $67,231 7.9 years
20 kW $2.42 $33,894 $75,454 7.7 years

How to Save on Solar Panels

There are many companies available in Monahans, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:

  • Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
  • Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
  • Solar Panel Brands: Different companies offer different brands and models of panels. If you want a specific brand, make sure the solar company you're considering has it.
  • Contract: It's important to read your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

EcoWatch's Monahans, TX Solar Cost FAQs

What is the average cost of installing solar panels in Monahans?

This is a tough 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 cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.

Should I lease or buy solar panels in Monahans?

Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The downside 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.

Is switching to solar power worth it?

Solar panels can be a great investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.

How many solar panels do I need to power my home?

To figure out how many solar panels you need, you need to know 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.

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