Solar Panel Cost Guide in Smithville, TX (2024 Update)
- Smithville Solar Installation Cost: $17,620
- 25-Year Savings: $25,701
- Payback Period: 11.0 Years
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Average Cost of Solar Panels in Smithville
We break down average solar pricing in Smithville.
Although the national average of solar panels is $2.66 per watt, solar panels in Smithville typically cost about 3.The average Smithville homeowner needs a 7.6-kilowatt system, which would cost about $17,620 with the federal tax credit, or $25,197 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of going solar can vary depending on multiple factors, such as what size system you need, your energy consumption and what company you go with.With average savings of about $20,000 on energy bills over 20 years, many homeowners in Smithville find investing in solar can pay off big.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Smithville
| Year | Return on Investment |
|---|---|
| 1 years | $-16,247 |
| 3 years | $-13,503 |
| 5 years | $-10,758 |
| 7 years | $-8,013 |
| 9 years | $-5,268 |
| 11 years | $-2,523 |
| 13 years | $221 |
| 15 years | $2,966 |
| 17 years | $5,711 |
| 19 years | $8,456 |
| 21 years | $11,201 |
| 23 years | $13,945 |
| 25 years | $16,690 |
Top Solar Installers in Smithville
Trying to install solar panels yourself can be a time-consuming project, which is why hiring a solar installer is a good option for many homeowners. 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.
If you're searching for a solar company in Smithville, the EcoWatch team has compiled a list of our top suggestions here:
Best National Provider
SunPower
- 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
- 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 Smithville
Factors that Affect Solar Panel Costs in Smithville
Though the average cost of a solar system in Smithville is $17,620, your actual cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The model of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment consists of more than just the solar panels themselves. You’ll also need to decide on 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
If paying for a solar system in cash is difficult, solar loans are a solid route because they lower your upfront costs and allow you to pay for your system over five to seven years on average.When estimating your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you hire to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies in Smithville, and each can charge varying amounts for labor and equipment.Additionally, some companies in Smithville are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $3.46 | $14,545 | $17,153 | 11.5 years |
| 8 kW | $3.40 | $19,021 | $23,243 | 11.3 years |
| 10 kW | $3.33 | $23,310 | $29,520 | 11.0 years |
| 12 kW | $3.26 | $27,413 | $35,984 | 10.8 years |
| 14 kW | $3.20 | $31,329 | $42,634 | 10.6 years |
| 16 kW | $3.13 | $35,058 | $49,470 | 10.4 years |
| 18 kW | $3.06 | $38,601 | $56,493 | 10.1 years |
| 20 kW | $3.00 | $41,958 | $63,702 | 9.9 years |
How to Save on Solar Panels
The solar installer you go with will be a major factor in determining not only your overall 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, such as:
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: Look through the contract terms carefully to make sure you understand the overall cost, project timeline incentives and warranties.
- Warranty: Warranties that provide coverage for 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 that kind of warranty is one sign of a quality company.
- Installation Process: When going solar, it’s crucial to maintain an open line of communication with your solar panel company. Confirm that you understand how the installation process works and the completion timeline.
Best National Provider
SunPower
- 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
- 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 Smithville, TX Solar Cost FAQs
What is the average cost of installing solar panels in Smithville?
This is a hard question to answer precisely, because the cost depends on a few different 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 cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Smithville?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How will having solar panels impact the value of my home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Smithville is currently $340,648, which means you can expect a value of about $13,967 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Smithville is a fruitful investment.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.