Solar Panel Cost Guide in Morgan's Point Resort, TX (2023 Update)
- Morgan's Point Resort Solar Installation Cost: $14,197
- 25-Year Savings: $19,696
- Payback Period: 10.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Morgan's Point Resort
Find out what the average cost of a solar system is in Morgan's Point Resort.
The average cost of solar panels in Morgan's Point Resort is 2.69 per watt. The average Morgan's Point Resort homeowner needs a 7.5-kilowatt system, which would cost about $14,198 with the federal tax credit, or $20,303 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of installing solar panels can vary quite a bit depending on multiple factors, such as what size system you need, your energy usage and what solar installer you go with. Many homeowners find going solar is a sound investment. The average homeowner in Morgan's Point Resort can save around $17,000 on their energy bills over 20 years.
You can click the button below to get connected with a top solar installer in Morgan's Point Resort for a quote for your home.
Solar savings over time in Morgan's Point Resort
| Year | Return on Investment |
|---|---|
| 1 years | $-12,765 |
| 3 years | $-9,899 |
| 5 years | $-7,034 |
| 7 years | $-4,169 |
| 9 years | $-1,304 |
| 11 years | $1,562 |
| 13 years | $4,427 |
| 15 years | $7,292 |
| 17 years | $10,158 |
| 19 years | $13,023 |
| 21 years | $15,888 |
| 23 years | $18,754 |
| 25 years | $21,619 |
Top Solar Installers in Morgan's Point Resort
Although it's possible to install solar panels on your own, it requires extra effort and expertise. Because of that, most people choose to go with a solar panel installer. Plus, if you're not certain what type of solar panels and equipment you need, a solar expert can help you figure that out after a site survey and consultation.
If you're looking for a solar company in Morgan's Point Resort, the EcoWatch team has put together 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
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 Morgan's Point Resort
Factors that Affect Solar Panel Costs in Morgan's Point Resort
There are many factors that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend around $2,690 per kilowatt in Morgan's Point Resort. The brand and kind of equipment you get for your solar system can increase or decrease 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 a small roof 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. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are an affordable route because they cut back your upfront costs and allow you to pay for your system over five to seven years on average. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can influence how much you pay. Morgan's Point Resort's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Morgan's Point Resort know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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
The solar installer you opt for will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, including:
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases offer good-quality solar panel installation and expertise.
- Contract: Before signing a contract with a solar company, be sure to look it over completely 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 if there are any guarantees about energy production.
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 Morgan's Point Resort, TX Solar Cost FAQs
What is the average cost of installing solar panels in Morgan's Point Resort?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Morgan's Point Resort?
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 offer you credit toward your future energy bills.
How long do solar panels last in Morgan's Point Resort?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.