Solar Panel Cost Guide in Sherman, TX (2024 Update)

  • Sherman Solar Installation Cost: $18,109
  • 25-Year Savings: $27,124
  • Payback Period: 10.8 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Sherman

Let’s take a look at the average cost of solar in Sherman.

While the national average of solar panels is $2.66 per watt, solar panels in Sherman typically cost about 3.The average solar panel system size in Sherman is around 7.8 kilowatts, meaning a cost of about $18,109 for a solar installation, or $25,896 before the 0 federal solar tax credit is applied.

The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary based on a few factors, such as how many panels you need, your energy consumption and what solar installer you go with.Despite the significant initial cost, the average Sherman homeowner can save around $20,000 on their energy bills over 20 years, which is one of the benefits of solar.

Click the button below to get connected to a highly rated solar panel company in your area for a customized estimate.

Solar savings over time in Sherman

Year Return on Investment
1 years $-16,607
3 years $-13,603
5 years $-10,599
7 years $-7,595
9 years $-4,590
11 years $-1,586
13 years $1,418
15 years $4,422
17 years $7,426
19 years $10,431
21 years $13,435
23 years $16,439
25 years $19,443

Top Solar Installers in Sherman

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Hiring an installer can make your switch to solar power much easier. Companies can also provide access to various kinds of the best solar panels and help you choose which one will be right for you.

If you're searching for a solar installer in Sherman, we've compiled a list of our top suggestions here:

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

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 Sherman

Factors that Affect Solar Panel Costs in Sherman

There are several factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.

Solar Equipment

The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,330.The model of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.

Solar Financing Terms

Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Sherman homeowners opt to finance their solar panel systems to make paying for solar more affordable.Though solar loans make going solar more accessible for Sherman homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

The last major cost factor you should keep in mind is the installer you choose. Given the massive popularity of renewable energy solutions in Sherman, you’ll have many options to choose from, but each comes at different price points for labor and equipment.The company’s size can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have 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 discount can bring their pricing lower to compete with bigger names.

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 $17,700 11.3 years
8 kW $3.40 $19,021 $23,973 11.1 years
10 kW $3.33 $23,310 $30,433 10.8 years
12 kW $3.26 $27,413 $37,079 10.6 years
14 kW $3.20 $31,329 $43,911 10.4 years
16 kW $3.13 $35,058 $50,930 10.2 years
18 kW $3.06 $38,601 $58,135 10.0 years
20 kW $3.00 $41,958 $65,527 9.8 years

How to Save on Solar Panels

The solar installer you opt for will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, including:

  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can check your installer’s reputation is by reading reviews.
  • Warranty: If you care about the endurance of your solar panel system, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
  • Contract: Although reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
  • Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.

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

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 Sherman, TX Solar Cost FAQs

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

This is a hard question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $16,650 for a 5-kW system and $33,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.

Can you get solar panels for free in Sherman?

Solar panels aren’t free in Sherman, 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.

Can solar panels completely eradicate my energy bills?

Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,074.85 per year.

How often do you have to replace solar panels?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using 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.

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