Solar Panel Cost Guide in Snyder, TX (2023 Update)
- Snyder Solar Installation Cost: $13,331
- 25-Year Savings: $25,792
- Payback Period: 8.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Snyder
Find out what the average cost of solar panels are in Snyder.
The average cost of a solar panel system in Snyder is 2.69 per watt. Using this figure, a typical 7.1-kW system would cost about $13,332 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy use, the type of solar system you want, your solar contractor and more. For many homeowners, the upfront cost of solar power is worth paying. On average homeowners in Snyder see about $21,000 in savings on energy bills over 20 years.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Snyder
| Year | Return on Investment |
|---|---|
| 1 years | $-11,559 |
| 3 years | $-8,015 |
| 5 years | $-4,470 |
| 7 years | $-926 |
| 9 years | $2,619 |
| 11 years | $6,163 |
| 13 years | $9,708 |
| 15 years | $13,252 |
| 17 years | $16,797 |
| 19 years | $20,341 |
| 21 years | $23,886 |
| 23 years | $27,430 |
| 25 years | $30,975 |
Top Solar Installers in Snyder
Although you can install solar panels on your own, it takes extra effort and know-how. Because of that, the majority of homeowners choose a solar panel installer. Companies can also provide access to a large variety of the best solar panels and help you pick which one will be best for you.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:
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 Snyder
Factors that Affect Solar Panel Costs in Snyder
There are several factors that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $2,690 per kilowatt in Snyder. There are a lot of different solar panel brands and the one you choose also changes the cost. Typically, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Snyder homeowners opt to finance their solar panel systems to make paying for solar more affordable. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you go with to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies operating in Snyder, and each can charge varying amounts for labor and equipment. The company's size can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down 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 | $2.80 | $11,750 | $21,405 | 8.9 years |
| 8 kW | $2.74 | $15,365 | $28,842 | 8.7 years |
| 10 kW | $2.69 | $18,830 | $36,429 | 8.5 years |
| 12 kW | $2.64 | $22,144 | $44,167 | 8.3 years |
| 14 kW | $2.58 | $25,308 | $52,055 | 8.2 years |
| 16 kW | $2.53 | $28,320 | $60,094 | 8.0 years |
| 18 kW | $2.47 | $31,182 | $68,284 | 7.8 years |
| 20 kW | $2.42 | $33,894 | $76,624 | 7.7 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Contract: Read the contract terms carefully to make sure you understand the overall cost, completion timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion 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 Snyder, TX Solar Cost FAQs
What is the average cost of installing solar panels in Snyder?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $13,450 for a 5-kW system and $26,900 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional 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 go with a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Snyder?
Most states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.