Solar Panel Cost Guide in Potosi, TX (2023 Update)
- Potosi Solar Installation Cost: $13,635
- 25-Year Savings: $23,031
- Payback Period: 9.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Potosi
Find out what the average cost of a solar system is in Potosi.
Although the national average of solar panels is $2.66 per watt, solar panels in Potosi typically cost about 2.69. 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 figures above are only estimates based on the average energy use of Potosi homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Even with the significant upfront cost, the average Potosi homeowner can save around $19,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Potosi
| Year | Return on Investment |
|---|---|
| 1 years | $-13,513 |
| 3 years | $-13,268 |
| 5 years | $-13,024 |
| 7 years | $-12,779 |
| 9 years | $-12,535 |
| 11 years | $-12,290 |
| 13 years | $-12,046 |
| 15 years | $-11,802 |
| 17 years | $-11,557 |
| 19 years | $-11,313 |
| 21 years | $-11,068 |
| 23 years | $-10,824 |
| 25 years | $-10,579 |
Top Solar Installers in Potosi
Installing solar panels by yourself can be a challenging task, which is why getting a solar installation company is a good option for many homeowners. Also, if you'd like to maximize your investment in solar, going with a solar installer can help with that as well. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some nearby:
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 quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels 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 Potosi. The brand and kind of equipment you want for your solar system can raise or lower 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 a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Potosi provide solar loans, which reduce the initial cost of installing a solar system. You'll have to consider the long-term cost of financing options, 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 principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Potosi is the company you get to install your PV system. Similar to choosing a company to install new cabinets, for example, you'll have no shortage of solar installers that offer a range of services for different budgets. The size of the company sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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
The solar company you opt for will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, such as:
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: The model of solar panel you want to get plays a part in which company you should go with, since different companies have access to different panels.
- Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
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
What is the average cost of installing solar panels in Potosi?
This is a tough question to answer precisely, 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. It will cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,012.71 per year.
How long do solar panels last in Potosi?
Even though 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 their energy production will have decreased significantly after that point. You can opt to replace them after having 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.