Solar Panel Cost Guide in Morgans Point Resort, TX (2023 Update)
- Morgans Point Resort Solar Installation Cost: $14,198
- 25-Year Savings: $19,696
- Payback Period: 10.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Morgans Point Resort
We go over average solar pricing in Morgans Point Resort.
The average cost of solar panels in Morgans Point Resort is 2.69 per watt. Because a 7.5-kW system is needed to cover the energy needs of a typical home in Morgans Point Resort, the average price of going solar will be about $14,198 after claiming the federal solar tax credit of 30%.
These figures are only averages, and the cost of going solar for you may look different based on your energy needs and what company you want to go with. With average savings of about $17,000 on power bills over 20 years, many homeowners in Morgans Point Resort find going solar can pay off big.
To get a free estimate from a highly rated solar company in Morgans Point Resort, you can click the button below.
Solar savings over time in Morgans Point Resort
| Year | Return on Investment |
|---|---|
| 1 years | $-12,842 |
| 3 years | $-10,131 |
| 5 years | $-7,419 |
| 7 years | $-4,708 |
| 9 years | $-1,996 |
| 11 years | $715 |
| 13 years | $3,427 |
| 15 years | $6,138 |
| 17 years | $8,850 |
| 19 years | $11,561 |
| 21 years | $14,273 |
| 23 years | $16,984 |
| 25 years | $19,696 |
Top Solar Installers in Morgans Point Resort
Although it's possible to install solar panels on your own, it takes extra energy and knowledge. That's why most homeowners choose to go with a solar panel installer. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Morgans Point Resort
Factors that Affect Solar Panel Costs in Morgans Point Resort
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that determine your overall cost in Morgans Point Resort: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,690. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Morgans Point Resort have solar loans, which reduce the initial cost of installing a solar system. Although solar loans make going solar more accessible for Morgans Point Resort homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you go with to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies in Morgans Point Resort, and each can charge different amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to 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 | $2.80 | $11,750 | $15,222 | 10.9 years |
| 8 kW | $2.74 | $15,365 | $20,597 | 10.7 years |
| 10 kW | $2.69 | $18,830 | $26,123 | 10.5 years |
| 12 kW | $2.64 | $22,144 | $31,799 | 10.3 years |
| 14 kW | $2.58 | $25,308 | $37,627 | 10.1 years |
| 16 kW | $2.53 | $28,320 | $43,604 | 9.8 years |
| 18 kW | $2.47 | $31,182 | $49,733 | 9.6 years |
| 20 kW | $2.42 | $33,894 | $56,012 | 9.4 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
- Solar Panel Brands: The model of solar panel you need plays a role in which company you should choose, since different companies provide different panels.
- Contract: Read the contract terms thoroughly to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Warranty: If you care about the endurance of your solar energy system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Morgans Point Resort, TX Solar Cost FAQs
What is the average cost of installing solar panels in Morgans Point Resort?
The average cost of solar panels in Morgans Point Resort 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can solar panels significantly reduce my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Morgans Point Resort, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
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 requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.