Solar Panel Cost Guide in Terrell, TX (2023 Update)
- Terrell Solar Installation Cost: $14,496
- 25-Year Savings: $22,692
- Payback Period: 9.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Terrell
Find out what the average cost of solar panel installation is in Terrell.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Terrell, the typical cost of solar panels is 2.69 per watt. Using this figure, a typical 7.7-kW system would cost about $14,499 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of solar system you want, your solar contractor and more. Many homeowners find installing a solar panel system is a fruitful investment. The average homeowner in Terrell can save about $19,000 on their electricity bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Terrell
| Year | Return on Investment |
|---|---|
| 1 years | $-13,075 |
| 3 years | $-10,233 |
| 5 years | $-7,391 |
| 7 years | $-4,549 |
| 9 years | $-1,706 |
| 11 years | $1,136 |
| 13 years | $3,978 |
| 15 years | $6,820 |
| 17 years | $9,662 |
| 19 years | $12,504 |
| 21 years | $15,347 |
| 23 years | $18,189 |
| 25 years | $21,031 |
Top Solar Installers in Terrell
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Using a solar panel installer can make swapping over to solar power much easier. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Terrell
Factors that Affect Solar Panel Costs in Terrell
The cost of installing a solar system in Terrell can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. There are several different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Terrell, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you pick will play a role in your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $17,233 | 10.1 years |
| 8 kW | $2.74 | $15,365 | $23,279 | 9.9 years |
| 10 kW | $2.69 | $18,830 | $29,476 | 9.7 years |
| 12 kW | $2.64 | $22,144 | $35,823 | 9.6 years |
| 14 kW | $2.58 | $25,308 | $42,320 | 9.4 years |
| 16 kW | $2.53 | $28,320 | $48,969 | 9.2 years |
| 18 kW | $2.47 | $31,182 | $55,767 | 9.0 years |
| 20 kW | $2.42 | $33,894 | $62,717 | 8.8 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: When making the switch to solar, it's important to maintain an open line of communication with your solar company. See to it that you understand how the installation process will go and the completion timeline.
- Contract: Although reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Long-running companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
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 Terrell, TX Solar Cost FAQs
How much does it cost to install solar panels in Terrell?
This is a hard question to answer exactly, because the cost depends on a few different 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 extra solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Terrell?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Do solar panels increase your home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Terrell is currently $137,898, which means you could be looking at a value of about $5,654 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Terrell is a fruitful investment.
How long do solar panels last in Terrell?
Even 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 decide 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.