Solar Panel Cost Guide in Oak Trail Shores, TX (2023 Update)
- Oak Trail Shores Solar Installation Cost: $14,178
- 25-Year Savings: $16,675
- Payback Period: 11.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Oak Trail Shores
Find out what the average cost of installing solar panels is in Oak Trail Shores.
While the national average of solar panels is $2.66 per watt, solar panels in Oak Trail Shores generally cost about 2.69. The average Oak Trail Shores homeowner needs a 7.5-kilowatt system, which would cost about $14,179 with the federal tax credit, or $20,276 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of installing solar panels can vary based on a few factors, such as what size system you need, your energy consumption and what company you go with. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Oak Trail Shores can save about $16,000 on their power bills over 20 years.
Click the button below to get connected to a reputable solar panel company in your area for a custom quote.
Solar savings over time in Oak Trail Shores
| Year | Return on Investment |
|---|---|
| 1 years | $-14,075 |
| 3 years | $-13,869 |
| 5 years | $-13,664 |
| 7 years | $-13,458 |
| 9 years | $-13,252 |
| 11 years | $-13,047 |
| 13 years | $-12,841 |
| 15 years | $-12,635 |
| 17 years | $-12,430 |
| 19 years | $-12,224 |
| 21 years | $-12,018 |
| 23 years | $-11,813 |
| 25 years | $-11,607 |
Top Solar Installers in Oak Trail Shores
Many homeowners choose to hire a solar panel installer since trying to put up solar panels on your own can be challenging. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Trail Shores
Factors that Affect Solar Panel Costs in Oak Trail Shores
Although the average cost of a solar system in Oak Trail Shores is $14,179, your actual cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,690. The brand and kind of equipment you want for your solar system can raise or lower 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Oak Trail Shores, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also adds to your all-in costs, so it's vital to consider that as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installation company you choose will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $12,836 | 11.9 years |
| 8 kW | $2.74 | $15,365 | $17,416 | 11.7 years |
| 10 kW | $2.69 | $18,830 | $22,146 | 11.5 years |
| 12 kW | $2.64 | $22,144 | $27,028 | 11.3 years |
| 14 kW | $2.58 | $25,308 | $32,059 | 11.0 years |
| 16 kW | $2.53 | $28,320 | $37,242 | 10.8 years |
| 18 kW | $2.47 | $31,182 | $42,575 | 10.6 years |
| 20 kW | $2.42 | $33,894 | $48,059 | 10.3 years |
How to Save on Solar Panels
There are a large number of companies available in Oak Trail Shores, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: 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.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one sign of a quality company.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
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 Trail Shores, TX Solar Cost FAQs
What is the average cost of installing solar panels in Oak Trail Shores?
This is a difficult 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. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Oak Trail Shores?
Leasing solar panels can be an attractive choice, as it often 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 incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Can solar panels completely eradicate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $819.53 per year.
How long do solar panels last in Oak Trail Shores?
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 larger 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.