Solar Panel Cost Guide in Potosi, TX (2023 Update)
- Potosi Solar Installation Cost: $13,633
- 25-Year Savings: $23,033
- Payback Period: 9.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Potosi
Here's how much it might cost to switch to solar power in Potosi.
The average cost of a solar panel system in Potosi is 2.69 per watt. The average Potosi homeowner needs a 7.2-kilowatt system, which would cost about $13,633 with the federal tax credit, or $19,495 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of equipment you choose, your solar contractor and more. Even with the high upfront cost, the average Potosi homeowner can save about $19,000 on their power bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a top solar panel company in your area for a custom quote.
Solar savings over time in Potosi
| Year | Return on Investment |
|---|---|
| 1 years | $-12,166 |
| 3 years | $-9,233 |
| 5 years | $-6,300 |
| 7 years | $-3,367 |
| 9 years | $-433 |
| 11 years | $2,500 |
| 13 years | $5,433 |
| 15 years | $8,367 |
| 17 years | $11,300 |
| 19 years | $14,233 |
| 21 years | $17,166 |
| 23 years | $20,100 |
| 25 years | $23,033 |
Top Solar Installers in Potosi
Although you can install solar panels by yourself, it takes extra energy and expertise. Because of that, most people choose to go with a solar panel installer. Some solar installers, particularly local ones, can help you better understand incentives in Potosi, optimizing your ROI.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
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 Potosi
Factors that Affect Solar Panel Costs in Potosi
Though the average cost of a solar system in Potosi is $13,633, your final cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,690. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your power bills. In addition, add-on products, like solar batteries, can bring your total well above the Potosi average.
Solar Financing Terms
Many homeowners find the average cost of solar in Potosi to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Potosi is the company you get to install your solar panel system. Similar to choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services at different price points. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that has the products, warranties and services you want and also fit into your budget.
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 | $18,631 | 9.7 years |
| 8 kW | $2.74 | $15,365 | $25,143 | 9.5 years |
| 10 kW | $2.69 | $18,830 | $31,805 | 9.3 years |
| 12 kW | $2.64 | $22,144 | $38,618 | 9.1 years |
| 14 kW | $2.58 | $25,308 | $45,582 | 8.9 years |
| 16 kW | $2.53 | $28,320 | $52,696 | 8.7 years |
| 18 kW | $2.47 | $31,182 | $59,961 | 8.6 years |
| 20 kW | $2.42 | $33,894 | $67,377 | 8.4 years |
How to Save on Solar Panels
There are a large number of companies available in Potosi, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before making your decision.
- Contract: It's important to read through your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Warranty: If you're concerned about the longevity of your solar panels, ensuring your installer 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
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 Potosi, TX Solar Cost FAQs
How much does it cost to install solar panels in Potosi?
The average cost of solar panels in Potosi is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as 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 Potosi?
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 financial benefits from going solar.
Does Potosi have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
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 how much sunlight your roof gets. You can 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 account for 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.