Solar Panel Cost Guide in Prosper, TX (2024 Update)
- Prosper Solar Installation Cost: $17,939
- 25-Year Savings: $21,355
- Payback Period: 12.5 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Prosper
Let’s have a look at the average cost of solar in Prosper.
Although the national average of solar panels is $2.66 per watt, solar panels in Prosper generally cost about 3.The average solar panel system size in Prosper is around 7.7 kilowatts, meaning a cost of about $17,939 for a solar installation, or $25,653 before the 0 federal solar tax credit is applied.
The true price you pay can be higher or lower than the average in Prosper depending on a few factors, such as the kind of solar panels you choose and the solar installer you hire.But, after you've paid the upfront cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $18,000 over 20 years on utility bills.
To receive a free quote from a highly rated solar installation company in Prosper, you can click the button below.
Solar savings over time in Prosper
Year | Return on Investment |
---|---|
1 years | $-16,652 |
3 years | $-14,079 |
5 years | $-11,506 |
7 years | $-8,933 |
9 years | $-6,360 |
11 years | $-3,787 |
13 years | $-1,214 |
15 years | $1,359 |
17 years | $3,932 |
19 years | $6,505 |
21 years | $9,078 |
23 years | $11,651 |
25 years | $14,224 |
Top Solar Installers in Prosper
Trying to put up solar panels yourself can be a dangerous task, which is why using a solar installation company is a good option for many homeowners. Plus, if you’re unsure what type of solar panels and equipment you want, a solar expert can help you figure that out after a site survey and consultation.
If you're on the hunt for a solar company in Prosper, the EcoWatch team has compiled a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Prosper
Factors that Affect Solar Panel Costs in Prosper
The cost of installing a solar system in Prosper can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.The solar equipment you choose can increase or decrease your cost 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, higher efficiency could save you more over time on your power bills. In addition, add-on products, like solar batteries, can bump up your total well above the Prosper average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are available from most installers in Prosper, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of financing options, including the total 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Prosper is the company you hire to install your solar system. Similar to choosing a company to build a deck or pool, for instance, you’ll have no shortage of solar installers that offer a range of services for different budgets.Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
---|---|---|---|---|
6 kW | $3.46 | $14,545 | $13,402 | 13.0 years |
8 kW | $3.40 | $19,021 | $18,242 | 12.8 years |
10 kW | $3.33 | $23,310 | $23,269 | 12.5 years |
12 kW | $3.26 | $27,413 | $28,483 | 12.3 years |
14 kW | $3.20 | $31,329 | $33,882 | 12.0 years |
16 kW | $3.13 | $35,058 | $39,469 | 11.8 years |
18 kW | $3.06 | $38,601 | $45,241 | 11.5 years |
20 kW | $3.00 | $41,958 | $51,201 | 11.3 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 select the right company for you, here are some tips to keep in mind:
- Installation Process: When going solar, it’s crucial to keep an open line of communication with your solar company. See to it that you understand how the installation process will go and the project completion timeline.
- Warranty: If you’re worried about the durability of your solar panels, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Before signing a contract with a solar installer, make sure you read it through carefully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Prosper, TX Solar Cost FAQs
What is the average cost of installing solar panels in Prosper?
The average cost of solar panels in Prosper is about $16,650 for a 5-kW system and $33,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Prosper?
You can’t get solar panels for free in Prosper. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.
How long do solar panels last in Prosper?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.