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
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Average Cost of Solar Panels in Sherman
Let’s take a look at the average cost of solar in Sherman.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Sherman, the average cost of a solar system is 3 per watt.Using this figure, a typical 7.8-kW system would cost about $18,109 before the 0 federal solar tax credit is applied.
The true cost of your system can go above or below the average in Sherman depending on a variety of factors, such as the model of solar panels you choose and the solar company you hire.Many homeowners find adopting solar power is a solid investment. The average homeowner in Sherman can save around $20,000 on their electricity bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
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
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Hiring a solar company can make swapping over to solar power much easier. Companies can also have access to various kinds of the best solar panels and help you choose which one will be right for you.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Sherman
Factors that Affect Solar Panel Costs in Sherman
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that affect your total cost in Sherman: 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 panel system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,330. There are several different solar panel brands and the one you pick also changes the cost. Usually, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Sherman provide solar loans, which reduce the initial cost of installing solar panels.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
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 Sherman is the company you choose to install your solar panel system. As with choosing a company to install new cabinets, for instance, there’s no shortage of solar installers that offer a range of services for different budgets.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that offers the products, warranties and services you’re looking for and also is within 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 | $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
Since the type of solar panels and the company you choose significantly affects your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one indication of a good company.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand what services your solar company will provide 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 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Sherman, TX Solar Cost FAQs
How much does it cost to install solar panels in Sherman?
The average cost of solar panels in Sherman is about $16,650 for a 5-kW system and $33,300 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Sherman?
You can’t get solar panels for free in Sherman. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Can solar panels significantly reduce my electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Sherman, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Sherman?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production 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.