Solar Panel Cost Guide in Selma, TX (Mar 2023)
- Selma Solar Installation Cost: $14,160
- 25-Year Savings: $23,550
- Payback Period: 9.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Selma
Here's how much it might cost to install solar panels in Selma.
The national average cost of solar panels is $2.66 per watt, but in Selma it's 2.69 per watt. The average Selma homeowner needs a 7.5-kilowatt system, which would cost about $14,160 with the federal tax credit, or $20,249 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Selma 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. For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $19,000 in savings on utility bills over 20 years.
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 Selma
| Year | Return on Investment |
|---|---|
| 1 years | $-12,652 |
| 3 years | $-9,635 |
| 5 years | $-6,618 |
| 7 years | $-3,601 |
| 9 years | $-585 |
| 11 years | $2,432 |
| 13 years | $5,449 |
| 15 years | $8,466 |
| 17 years | $11,483 |
| 19 years | $14,499 |
| 21 years | $17,516 |
| 23 years | $20,533 |
| 25 years | $23,550 |
Top Solar Installers in Selma
Although it's possible to install solar panels on your own, it requires extra time and knowledge. That's one of the reasons most homeowners choose a solar panel installer. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance over time.
If you'd like to go solar but still aren't sure which solar system company to go with, here are our suggestions for providers in Selma:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Selma
Factors that Affect Solar Panel Costs in Selma
Even though the average cost of a solar system in Selma is $14,160, your final cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,690. The brand and kind 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 extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Selma, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also increases your total costs, so it's vital to keep that in mind as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you hire to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Selma, and each can charge different amounts for labor and equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $18,353 | 9.8 years |
| 8 kW | $2.74 | $15,365 | $24,772 | 9.6 years |
| 10 kW | $2.69 | $18,830 | $31,341 | 9.4 years |
| 12 kW | $2.64 | $22,144 | $38,061 | 9.2 years |
| 14 kW | $2.58 | $25,308 | $44,932 | 9.0 years |
| 16 kW | $2.53 | $28,320 | $51,954 | 8.8 years |
| 18 kW | $2.47 | $31,182 | $59,126 | 8.6 years |
| 20 kW | $2.42 | $33,894 | $66,449 | 8.4 years |
How to Save on Solar Panels
The solar company you choose 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 a few important things you should consider, such as:
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: When going solar, it's essential to keep an open line of communication with your solar panel company. See to it that you understand how the installation process will go and the project timeline.
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Selma, TX Solar Cost FAQs
How much does it cost to install solar panels in Selma?
The average cost of solar panels in Selma 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 things such as the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Selma?
Solar panels aren't free in Selma, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Do solar panels increase the value of your home?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How often do you have to replace solar panels?
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 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.