Solar Panel Cost Guide in Olivarez, TX (2024 Update)
- Olivarez Solar Installation Cost: $16,573
- 25-Year Savings: $17,670
- Payback Period: 13.3 Years
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Average Cost of Solar Panels in Olivarez
Let’s have a look at the average cost of solar in Olivarez.
The average cost of solar panels in Olivarez is 3 per watt.The average Olivarez homeowner needs a 7.1-kilowatt system, which would cost about $16,573 with the federal tax credit, or $23,699 before the 0 tax credit is applied.
These figures are just averages, and how much solar costs for you will vary based on the amount of energy your home requires and what company you choose to go with.But, once you've paid the initial cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $17,000 over 20 years on electricity bills.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Olivarez
| Year | Return on Investment |
|---|---|
| 1 years | $-15,330 |
| 3 years | $-12,846 |
| 5 years | $-10,362 |
| 7 years | $-7,878 |
| 9 years | $-5,394 |
| 11 years | $-2,910 |
| 13 years | $-426 |
| 15 years | $2,058 |
| 17 years | $4,542 |
| 19 years | $7,026 |
| 21 years | $9,511 |
| 23 years | $11,995 |
| 25 years | $14,479 |
Top Solar Installers in Olivarez
Installing solar panels on your own can be a difficult project, which is why using a solar installation company is a good option for many homeowners. Also, if you’d like to maximize your investment in solar power, opting for a solar company can help with that as well. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives, rebates and net metering programs.
If you're searching for a solar company in Olivarez, we've compiled a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
Even though the average cost of a solar system in Olivarez is $16,573, your final cost may be above or below the average. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,330.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Olivarez, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited 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
Most solar installers in Olivarez provide solar loans, which reduce your upfront costs of installing solar panels.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you choose to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies operating in Olivarez, and each can charge varying amounts for labor and equipment.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.46 | $14,545 | $11,665 | 13.9 years |
| 8 kW | $3.40 | $19,021 | $15,926 | 13.6 years |
| 10 kW | $3.33 | $23,310 | $20,374 | 13.3 years |
| 12 kW | $3.26 | $27,413 | $25,008 | 13.1 years |
| 14 kW | $3.20 | $31,329 | $29,829 | 12.8 years |
| 16 kW | $3.13 | $35,058 | $34,836 | 12.5 years |
| 18 kW | $3.06 | $38,601 | $40,030 | 12.3 years |
| 20 kW | $3.00 | $41,958 | $45,410 | 12.0 years |
How to Save on Solar Panels
There are many companies to choose from in Olivarez, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Different companies have different brands and models of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: When going solar, it’s important to maintain an open line of communication with your solar installer. See to it that you understand how the installation process will go and the completion timeline.
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can research your installer’s reputation is by reading reviews.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
How much does it cost to install solar panels in Olivarez?
The average cost of solar panels in Olivarez is about $16,650 for a 5-kW system and $33,300 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Olivarez?
Leasing solar panels can be an option if you can’t pay upfront or get 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?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Olivarez, 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 Olivarez?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.