Solar Panel Cost Guide in Oak Point, TX (2023 Update)
- Oak Point Solar Installation Cost: $14,424
- 25-Year Savings: $18,469
- Payback Period: 11.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Oak Point
We break down average solar pricing in Oak Point.
The average cost of a solar system in Oak Point is 2.69 per watt. Using this figure, a typical 7.7-kW system would cost about $14,424 before the 30% federal solar tax credit is applied.
These figures are only averages, and your own solar costs will most likely differ based on factors unique to your home and what company you choose to go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in Oak Point can save about $16,000 on their energy bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Oak Point
| Year | Return on Investment |
|---|---|
| 1 years | $-13,108 |
| 3 years | $-10,477 |
| 5 years | $-7,845 |
| 7 years | $-5,214 |
| 9 years | $-2,582 |
| 11 years | $49 |
| 13 years | $2,681 |
| 15 years | $5,312 |
| 17 years | $7,944 |
| 19 years | $10,575 |
| 21 years | $13,207 |
| 23 years | $15,838 |
| 25 years | $18,469 |
Top Solar Installers in Oak Point
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Hiring an installer can make switching to solar power much easier. A solar installer can also help save you money over time by providing warranties, repairs and component replacements.
If you'd like to switch to solar energy but still aren't certain which solar installer to go with, here are our suggestions for providers nearby:
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 Oak Point
Factors that Affect Solar Panel Costs in Oak Point
The cost of installing a solar system in Oak Point can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,690. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Oak Point, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Oak Point to be too expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest. However, the interest on solar loans also increases your total costs, so it's crucial to take that into consideration as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you choose will affect your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. The company's size sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and bulk 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 promotion can bring their pricing lower 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 | $14,022 | 11.4 years |
| 8 kW | $2.74 | $15,365 | $18,998 | 11.2 years |
| 10 kW | $2.69 | $18,830 | $24,124 | 11.0 years |
| 12 kW | $2.64 | $22,144 | $29,401 | 10.7 years |
| 14 kW | $2.58 | $25,308 | $34,828 | 10.5 years |
| 16 kW | $2.53 | $28,320 | $40,406 | 10.3 years |
| 18 kW | $2.47 | $31,182 | $46,135 | 10.1 years |
| 20 kW | $2.42 | $33,894 | $52,014 | 9.9 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, 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:
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one mark of a good company.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
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 Oak Point, TX Solar Cost FAQs
How much does it cost to install solar panels in Oak Point?
The average cost of solar panels in Oak Point 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 like the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Oak Point?
You can't get solar panels for free in Oak Point. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How much can I save on energy bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Oak Point, that will require at least a 10-kW system. Not all homes will have roofs that 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.
How long do solar panels last in Oak Point?
On average, the lifespan of solar panels is 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 amount 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.