Solar Panel Cost Guide in Red Oak, TX (2023 Update)
- Red Oak Solar Installation Cost: $14,405
- 25-Year Savings: $22,783
- Payback Period: 9.7 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Red Oak
Find out what the average cost of solar panel installation is in Red Oak.
In Red Oak, solar panels cost about 2.69 per watt on average. Using this figure, a typical 7.7-kW system would cost about $14,405 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Red Oak homeowner. The price 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. With typical savings of about $19,000 on power bills over 20 years, many homeowners in Red Oak find installing solar panels has a decent ROI.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Red Oak
| Year | Return on Investment |
|---|---|
| 1 years | $-12,917 |
| 3 years | $-9,942 |
| 5 years | $-6,967 |
| 7 years | $-3,992 |
| 9 years | $-1,017 |
| 11 years | $1,958 |
| 13 years | $4,933 |
| 15 years | $7,908 |
| 17 years | $10,883 |
| 19 years | $13,858 |
| 21 years | $16,833 |
| 23 years | $19,808 |
| 25 years | $22,783 |
Top Solar Installers in Red Oak
Trying to install solar panels yourself can be a difficult project, which is why hiring a solar installer is a good option for many homeowners. In addition, if you'd like to maximize your investment in solar, using 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 and net metering programs.
If you'd like to start using solar energy but still aren't certain which solar system company to go with, here are our recommendations for providers in Red Oak:
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 Red Oak
Factors that Affect Solar Panel Costs in Red Oak
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that determine your overall cost in Red Oak: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,690. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your energy bills. In addition, extra products, like solar batteries, can bring your total well above the Red Oak average.
Solar Financing Terms
Many homeowners find the average cost of solar in Red Oak to be too costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest. 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're only able to 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 finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can affect your pricing. Red Oak's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — 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 choose a company that offers 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 | $17,430 | 10.1 years |
| 8 kW | $2.74 | $15,365 | $23,541 | 9.9 years |
| 10 kW | $2.69 | $18,830 | $29,803 | 9.7 years |
| 12 kW | $2.64 | $22,144 | $36,215 | 9.5 years |
| 14 kW | $2.58 | $25,308 | $42,778 | 9.3 years |
| 16 kW | $2.53 | $28,320 | $49,492 | 9.1 years |
| 18 kW | $2.47 | $31,182 | $56,356 | 8.9 years |
| 20 kW | $2.42 | $33,894 | $63,371 | 8.7 years |
How to Save on Solar Panels
The solar installer you opt for will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Contract: It's important to read your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Warranty: If you're concerned about the longevity of your solar panels, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
- 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 the EcoWatch team.
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 Red Oak, TX Solar Cost FAQs
What is the average cost of installing solar panels in Red Oak?
This is a difficult question to answer exactly, because the cost depends on a few different 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 additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Red Oak?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to 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 switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How long do solar panels last in Red Oak?
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 higher level 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.