Solar Panel Cost Guide in Oak Point, TX (2023 Update)
- Oak Point Solar Installation Cost: $14,419
- 25-Year Savings: $18,474
- Payback Period: 11.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Oak Point
We go over average solar pricing in Oak Point.
The average cost of a solar panel system in Oak Point is 2.69 per watt. Since a 7.7-kW system is needed to cover the energy consumption of a typical home in Oak Point, the average price of going solar will be about $14,424 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of making the switch to solar can vary depending on a few factors, such as how many panels you need, your energy usage and what company you go with. But, after you've paid the initial cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $16,000 over 20 years on electricity bills.
Click the button below to get connected to a vetted solar company in Oak Point for a custom estimate.
Solar savings over time in Oak Point
| Year | Return on Investment |
|---|---|
| 1 years | $-14,310 |
| 3 years | $-14,091 |
| 5 years | $-13,871 |
| 7 years | $-13,652 |
| 9 years | $-13,433 |
| 11 years | $-13,213 |
| 13 years | $-12,994 |
| 15 years | $-12,775 |
| 17 years | $-12,556 |
| 19 years | $-12,336 |
| 21 years | $-12,117 |
| 23 years | $-11,898 |
| 25 years | $-11,678 |
Top Solar Installers in Oak Point
DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Hiring a solar company can make your switch to solar power much easier. Also, companies with a high reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you're looking for a solar installer in Oak Point, the EcoWatch team has organized 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 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 your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of solar panels in Oak Point, 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 usage, which you can determine by looking at past power bills. Your total cost can increase by around $2,690 for each additional kilowatt you need. The brand of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a solid route because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The final key cost factor you should keep in mind is the installer you choose. Given the massive popularity of sustainable energy solutions in Oak Point, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. The company's size sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally 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 system installation will affect the warranties and brands you have access to, 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:
- Solar Panel Brands: Different companies offer various brands and models of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
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 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 type of solar panels you want, what size system you need and how much energy you consume.
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 install 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.
Does Oak Point have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
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.