Solar Panel Cost Guide in Saginaw, TX (2023 Update)
- Saginaw Solar Installation Cost: $14,407
- 25-Year Savings: $22,781
- Payback Period: 9.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Saginaw
Let's take a look at the average cost of solar in Saginaw.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Saginaw, the average cost of solar panels is 2.69 per watt. The average solar panel system size in Saginaw is around 7.7 kilowatts, meaning a cost of about $14,405 for a solar installation, or $20,599 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Saginaw 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. Many homeowners find installing a solar panel system is a rewarding investment. The average homeowner in Saginaw can save about $19,000 on their electricity bills over 20 years.
Click the button below to get connected to a reputable solar panel company in Saginaw for a personalized estimate.
Solar savings over time in Saginaw
| Year | Return on Investment |
|---|---|
| 1 years | $-14,283 |
| 3 years | $-14,035 |
| 5 years | $-13,787 |
| 7 years | $-13,539 |
| 9 years | $-13,291 |
| 11 years | $-13,043 |
| 13 years | $-12,795 |
| 15 years | $-12,547 |
| 17 years | $-12,299 |
| 19 years | $-12,051 |
| 21 years | $-11,804 |
| 23 years | $-11,556 |
| 25 years | $-11,308 |
Top Solar Installers in Saginaw
Although it's possible to install solar panels by yourself, it involves extra effort and handiness. That's one of the reasons almost all homeowners choose a solar panel installer. Solar installers offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
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 Saginaw:
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 Saginaw
Factors that Affect Solar Panel Costs in Saginaw
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in Saginaw: 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
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 energy your household uses, the larger your system will likely need to be. You can expect to spend about $2,690 per kilowatt in Saginaw. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Saginaw offer solar loans, which reduce the initial cost of installing solar panels. However, the interest on solar loans also adds to your overall costs, so it's vital to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can affect your pricing. Saginaw's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Saginaw have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $17,413 | 10.1 years |
| 8 kW | $2.74 | $15,365 | $23,519 | 9.9 years |
| 10 kW | $2.69 | $18,830 | $29,775 | 9.7 years |
| 12 kW | $2.64 | $22,144 | $36,182 | 9.5 years |
| 14 kW | $2.58 | $25,308 | $42,740 | 9.3 years |
| 16 kW | $2.53 | $28,320 | $49,448 | 9.1 years |
| 18 kW | $2.47 | $31,182 | $56,307 | 8.9 years |
| 20 kW | $2.42 | $33,894 | $63,317 | 8.7 years |
How to Save on Solar Panels
The solar installer you choose will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, including:
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Different companies will offer various brands and models of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Installation Process: When making the switch to solar energy, it's essential to keep an open line of communication with your solar company. Make sure you understand how the installation process works and the project 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 Saginaw, TX Solar Cost FAQs
What is the average cost of installing solar panels in Saginaw?
The average cost of solar panels in Saginaw is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Saginaw?
Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Can solar panels significantly reduce my energy bills?
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 $972.11 per year.
How often do you have to replace solar panels?
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 how much energy they produce will have decreased significantly after that point. You can replace them once you've had 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.