Solar Panel Cost Guide in Olivarez, TX (2023 Update)
- Olivarez Solar Installation Cost: $13,387
- 25-Year Savings: $17,670
- Payback Period: 10.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Olivarez
We go over average solar pricing in Olivarez.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Olivarez, the typical cost of a solar system is 2.69 per watt. Since a 7.1-kW system is needed to cover the energy costs of a typical home in Olivarez, the average price of going solar will be about $13,388 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy use, the type of solar panels you want to get, your solar contractor and more. Many homeowners find going solar is a fruitful investment. The average homeowner in Olivarez can save about $17,000 on their power bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Olivarez
| Year | Return on Investment |
|---|---|
| 1 years | $-13,284 |
| 3 years | $-13,077 |
| 5 years | $-12,870 |
| 7 years | $-12,663 |
| 9 years | $-12,456 |
| 11 years | $-12,249 |
| 13 years | $-12,042 |
| 15 years | $-11,834 |
| 17 years | $-11,627 |
| 19 years | $-11,420 |
| 21 years | $-11,213 |
| 23 years | $-11,006 |
| 25 years | $-10,799 |
Top Solar Installers in Olivarez
Although you can install solar panels by yourself, it involves extra time and know-how. Because of that, most homeowners choose to go with a solar panel installer. The expertise that solar companies offer can be useful as well, especially if you aren't sure what kind of solar equipment you need.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:
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 Olivarez
Factors that Affect Solar Panel Costs in Olivarez
The cost of installing a solar system in Olivarez can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay about $2,690 per kilowatt in Olivarez. The brand and kind 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Olivarez have solar loans, which reduce your upfront costs of installing solar. Even though solar loans make switching to solar energy more accessible for Olivarez homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you hire to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Olivarez, and each can charge varying amounts for labor and equipment. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials 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 | $14,460 | 11.2 years |
| 8 kW | $2.74 | $15,365 | $19,582 | 11.0 years |
| 10 kW | $2.69 | $18,830 | $24,854 | 10.8 years |
| 12 kW | $2.64 | $22,144 | $30,277 | 10.6 years |
| 14 kW | $2.58 | $25,308 | $35,850 | 10.3 years |
| 16 kW | $2.53 | $28,320 | $41,574 | 10.1 years |
| 18 kW | $2.47 | $31,182 | $47,449 | 9.9 years |
| 20 kW | $2.42 | $33,894 | $53,474 | 9.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: Before you sign a contract with a solar installer, make sure you read it through completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
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 Olivarez, TX Solar Cost FAQs
What is the average cost of installing solar panels in Olivarez?
The average cost of solar panels in Olivarez 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.
Is it better to lease or buy solar panels in Olivarez?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How much can I save on power bills after installing solar panels?
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 $873.68 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.