Solar Panel Cost Guide in Ovilla, TX (Mar 2023)
- Ovilla Solar Installation Cost: $14,443
- 25-Year Savings: $22,745
- Payback Period: 9.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Ovilla
Let's take a look at the average cost of solar in Ovilla.
While the national average of solar panels is $2.66 per watt, solar panels in Ovilla generally cost about 2.69. The average solar panel system size in Ovilla is around 7.7 kilowatts, meaning a cost of about $14,443 for a solar installation, or $20,653 before the 30% federal solar tax credit is applied.
These figures are only averages, and the cost of going solar for you will most likely vary based on your specific situation and what company you choose to go with. For many homeowners, the upfront cost of solar panels is worth paying. On average Ovilla homeowners see about $19,000 in savings on energy bills over 20 years.
Click the button below to get connected to a vetted solar installer in your area for a customized quote.
Solar savings over time in Ovilla
| Year | Return on Investment |
|---|---|
| 1 years | $-12,955 |
| 3 years | $-9,980 |
| 5 years | $-7,005 |
| 7 years | $-4,030 |
| 9 years | $-1,055 |
| 11 years | $1,920 |
| 13 years | $4,895 |
| 15 years | $7,870 |
| 17 years | $10,845 |
| 19 years | $13,820 |
| 21 years | $16,795 |
| 23 years | $19,770 |
| 25 years | $22,745 |
Top Solar Installers in Ovilla
When switching to solar energy, many homeowners choose to use a solar installer since putting up solar panels yourself can be a difficult project. Local solar installers can also help you optimize your return on investment by walking you through any local incentives you can benefit from and by providing warranties and repairs.
If you'd like to make the switch to solar but still aren't sure which solar company to go with, here are our recommendations 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 Ovilla
Factors that Affect Solar Panel Costs in Ovilla
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that will push your cost above or below the average in Ovilla: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar system in Ovilla, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can figure out by looking at past power bills. Your total cost can increase by about $2,690 for each additional kilowatt you need. There are several different solar panel brands and the one you pick also affects the cost. Generally, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Ovilla to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in paying more over time because of interest. 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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can affect the cost. Ovilla's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Ovilla have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $17,343 | 10.1 years |
| 8 kW | $2.74 | $15,365 | $23,426 | 9.9 years |
| 10 kW | $2.69 | $18,830 | $29,659 | 9.7 years |
| 12 kW | $2.64 | $22,144 | $36,042 | 9.5 years |
| 14 kW | $2.58 | $25,308 | $42,577 | 9.3 years |
| 16 kW | $2.53 | $28,320 | $49,262 | 9.1 years |
| 18 kW | $2.47 | $31,182 | $56,097 | 8.9 years |
| 20 kW | $2.42 | $33,894 | $63,083 | 8.7 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose significantly influences your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Solar Panel Brands: Different companies carry various brands and kinds of panels. If you prefer a specific brand, make sure the solar panel company 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 Ovilla, TX Solar Cost FAQs
How much does it cost to install solar panels in Ovilla?
This is a difficult question to answer precisely, because the cost depends on a variety of 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 other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Ovilla?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The drawback 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 way to go if you want to get the most savings.
How will having solar panels impact my home value?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.