Solar Panel Cost Guide in Richmond, TX (Dec 2022)

  • Richmond Solar Installation Cost: $14,330
  • 25-Year Savings: $22,858
  • Payback Period: 9.6 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Richmond

Find out how much it might cost to go solar in Richmond.

The national average cost of solar panels is $2.66 per watt, but in Richmond it's $3 per watt. The average solar panel system size in Richmond is around 7.6 kilowatts, meaning a cost of about $14,330 for a solar installation, or $10,604 after the 30% federal solar tax credit is applied.

These figures are only averages, and your own solar costs may look different based on your energy needs and what company you want to go with. Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Richmond can save about $20,000 on their power bills over 20 years.

Click the button below to get connected to a highly rated solar company in Richmond for a personalized estimate.

Solar savings over time in Richmond

Year Return on Investment
1 years $-12,842
3 years $-9,867
5 years $-6,892
7 years $-3,917
9 years $-942
11 years $2,033
13 years $5,008
15 years $7,983
17 years $10,958
19 years $13,933
21 years $16,908
23 years $19,883
25 years $22,858

Top Solar Installers in Richmond

Many homeowners opt for a solar installer since trying to put up solar panels yourself can be hard. Companies can also provide access to quality options of the best solar panels and help you choose which one will be right for your home.

You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some in Richmond:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • 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 Richmond

Factors that Affect Solar Panel Costs in Richmond

For many Richmond homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Richmond, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.

Solar Equipment

When it comes to estimating the price of a solar panel system in Richmond, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can figure out by looking at past power bills. Your total cost can increase by around $2,690 for each additional kilowatt you need. The type of 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. On the other hand, higher efficiency could save you more in the long run on your energy bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Richmond average.

Solar Financing Terms

Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Richmond homeowners opt to finance their solar panel systems to make going solar more affordable. Though solar loans make going solar more accessible for Richmond homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Richmond is the company you get to install your PV system. As with choosing a company to renovate your kitchen, for instance, you'll have no shortage of solar installers that provide a range of services at different costs. The size of the company sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to more 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 promotion can bring their pricing down to compete with bigger 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 $17,564 10.0 years
8 kW $2.74 $15,365 $23,720 9.8 years
10 kW $2.69 $18,830 $30,027 9.6 years
12 kW $2.64 $22,144 $36,484 9.4 years
14 kW $2.58 $25,308 $43,092 9.2 years
16 kW $2.53 $28,320 $49,850 9.1 years
18 kW $2.47 $31,182 $56,759 8.9 years
20 kW $2.42 $33,894 $63,819 8.7 years

How to Save on Solar Panels

The solar installer you go with will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, such as:

  • Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a good company.
  • Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
  • Contract: Review the contract terms thoroughly to make sure you understand how much it will cost, project timeline incentives and warranties.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can look into your installer's reputation is by reading reviews.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

EcoWatch's Richmond, TX Solar Cost FAQs

What is the average cost of installing solar panels in Richmond?

This is a hard 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 more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.

What other factors should I consider aside from cost when buying solar panels?

Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.

Is going solar worth it?

Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.

How long do solar panels last in Richmond?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.

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