Solar Panel Cost Guide in Plano, TX (Mar 2023)
- Plano Solar Installation Cost: $14,499
- 25-Year Savings: $23,502
- Payback Period: 9.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Plano
Find out how much it might cost to make the switch to solar in Plano.
The national average cost of solar panels is $2.66 per watt, but in Plano it's 2.69 per watt. Using this figure, a typical 7.7-kW system would cost about $14,499 before the 30% federal solar tax credit is applied.
Keep in mind 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 consumption, the type of solar panels you choose, your solar contractor and more. But, after you've paid the initial cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $19,000 over 20 years on energy bills.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Plano
| Year | Return on Investment |
|---|---|
| 1 years | $-12,979 |
| 3 years | $-9,939 |
| 5 years | $-6,899 |
| 7 years | $-3,859 |
| 9 years | $-819 |
| 11 years | $2,221 |
| 13 years | $5,261 |
| 15 years | $8,302 |
| 17 years | $11,342 |
| 19 years | $14,382 |
| 21 years | $17,422 |
| 23 years | $20,462 |
| 25 years | $23,502 |
Top Solar Installers in Plano
Although it's possible to install solar panels by yourself, it requires extra labor and know-how. For that reason, most people choose a solar panel installer. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you'd like to start using solar energy but still aren't certain 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 Plano
Factors that Affect Solar Panel Costs in Plano
Even though the average cost of a solar system in Plano is $14,499, 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 important things to consider.
Solar Equipment
When it comes to estimating the price of a solar system in Plano, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can gauge by looking at past power bills. Your total cost can increase by around $2,690 for each additional kilowatt you need. The kind of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about 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 into a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Plano, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. When considering your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can impact how much you pay. Plano's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Plano are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $17,878 | 9.9 years |
| 8 kW | $2.74 | $15,365 | $24,138 | 9.7 years |
| 10 kW | $2.69 | $18,830 | $30,549 | 9.5 years |
| 12 kW | $2.64 | $22,144 | $37,111 | 9.3 years |
| 14 kW | $2.58 | $25,308 | $43,824 | 9.2 years |
| 16 kW | $2.53 | $28,320 | $50,687 | 9.0 years |
| 18 kW | $2.47 | $31,182 | $57,700 | 8.8 years |
| 20 kW | $2.42 | $33,894 | $64,865 | 8.6 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Solar Panel Brands: The kind of solar panel you'd like plays a role in which company you should choose, since different companies provide different panels.
- Warranty: If you're concerned about the durability of your solar system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Plano, TX Solar Cost FAQs
What is the average cost of installing solar panels in Plano?
This is a tough question to answer exactly, because the cost depends on many factors. Generally 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact my property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Plano is currently $332,526, so you could be looking at a value of about $13,634 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Plano is a fruitful investment.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using 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.