Solar Panel Cost Guide in Princeton, TX (2023 Update)
- Princeton Solar Installation Cost: $14,556
- 25-Year Savings: $27,197
- Payback Period: 8.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Princeton
Find out what the average cost of installing solar panels is in Princeton.
In Princeton, solar panels cost about 2.69 per watt on average. Using this figure, a typical 7.7-kW system would cost about $14,556 before the 30% federal solar tax credit is applied.
These figures are only estimates, and the cost of going solar for you may differ based on your energy needs and what company you choose to go with. With average savings of about $21,000 on energy bills over 20 years, many homeowners in Princeton find going solar can pay off big.
You can click the button below to get connected with a top solar company in Princeton for a quote for your home.
Solar savings over time in Princeton
| Year | Return on Investment |
|---|---|
| 1 years | $-12,886 |
| 3 years | $-9,545 |
| 5 years | $-6,205 |
| 7 years | $-2,865 |
| 9 years | $475 |
| 11 years | $3,815 |
| 13 years | $7,156 |
| 15 years | $10,496 |
| 17 years | $13,836 |
| 19 years | $17,176 |
| 21 years | $20,516 |
| 23 years | $23,856 |
| 25 years | $27,197 |
Top Solar Installers in Princeton
When switching to solar energy, many homeowners prefer to go with a solar company since handling can be a difficult project. The expertise that solar companies offer can be invaluable as well, particularly if you don't quite know what brand of solar equipment you need.
Working with a professional solar installer can help you make the most of your investment in solar. 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 Princeton
Factors that Affect Solar Panel Costs in Princeton
The cost of installing a solar system in Princeton can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most significant 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 power your household consumes, the larger your system will likely need to be. You can expect to spend around $2,690 per kilowatt in Princeton. The type of solar panels and equipment you get is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Further, solar equipment is more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Princeton to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The remaining key cost factor you should keep in mind is the installer you choose. Given the massive popularity of green energy solutions in Princeton, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, 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 | $2.80 | $11,750 | $20,641 | 9.1 years |
| 8 kW | $2.74 | $15,365 | $27,823 | 8.9 years |
| 10 kW | $2.69 | $18,830 | $35,155 | 8.7 years |
| 12 kW | $2.64 | $22,144 | $42,638 | 8.5 years |
| 14 kW | $2.58 | $25,308 | $50,271 | 8.4 years |
| 16 kW | $2.53 | $28,320 | $58,056 | 8.2 years |
| 18 kW | $2.47 | $31,182 | $65,990 | 8.0 years |
| 20 kW | $2.42 | $33,894 | $74,076 | 7.8 years |
How to Save on Solar Panels
There are a large number of companies available in Princeton, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Different companies offer different brands and types of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases offer quality solar panel installation and expertise.
- Installation Process: When going solar, it's crucial to keep an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project completion timeline.
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 Princeton, TX Solar Cost FAQs
What is the average cost of installing solar panels in Princeton?
The average cost of solar panels in Princeton is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Princeton?
Leasing solar panels can be an option if you can't afford to 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 property 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.
Is making the switch to solar worth it?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.