Solar Panel Cost Guide in Terrell Hills, TX (2023 Update)
- Terrell Hills Solar Installation Cost: $14,110
- 25-Year Savings: $23,291
- Payback Period: 9.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Terrell Hills
Find out what the average cost of a solar system is in Terrell Hills.
The average cost of a solar system in Terrell Hills is 2.69 per watt. The average Terrell Hills homeowner needs a 7.5-kilowatt system, which would cost about $14,104 with the federal tax credit, or $20,169 before the 30% tax credit is applied.
The true price you pay can go above or below the average in Terrell Hills based on several factors, such as the kind of solar panels you choose and the solar installer you hire. With average savings of about $19,000 on power bills over 20 years, many homeowners in Terrell Hills find investing in solar can be quite rewarding.
To receive a free estimate from a vetted solar company in Terrell Hills, you can click the button below.
Solar savings over time in Terrell Hills
| Year | Return on Investment |
|---|---|
| 1 years | $-13,985 |
| 3 years | $-13,736 |
| 5 years | $-13,487 |
| 7 years | $-13,237 |
| 9 years | $-12,988 |
| 11 years | $-12,739 |
| 13 years | $-12,489 |
| 15 years | $-12,240 |
| 17 years | $-11,991 |
| 19 years | $-11,741 |
| 21 years | $-11,492 |
| 23 years | $-11,242 |
| 25 years | $-10,993 |
Top Solar Installers in Terrell Hills
DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of an installer can make your swap to solar power much easier. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
There are a number of licensed solar professionals that can help you install your solar system. 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 Hills
Factors that Affect Solar Panel Costs in Terrell Hills
Though the average cost of a solar system in Terrell Hills is $14,104, your actual cost may differ. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,690. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Terrell Hills, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Terrell Hills have solar loans, which reduce the initial cost of installing solar panels. It's a good idea to add 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 off the loan.
Solar Panel Installation Company
The solar company you choose to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies in Terrell Hills, and each can charge varying amounts for labor and equipment. Additionally, some companies in Terrell Hills have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $2.80 | $11,750 | $18,197 | 9.8 years |
| 8 kW | $2.74 | $15,365 | $24,564 | 9.6 years |
| 10 kW | $2.69 | $18,830 | $31,082 | 9.4 years |
| 12 kW | $2.64 | $22,144 | $37,750 | 9.2 years |
| 14 kW | $2.58 | $25,308 | $44,569 | 9.1 years |
| 16 kW | $2.53 | $28,320 | $51,539 | 8.9 years |
| 18 kW | $2.47 | $31,182 | $58,659 | 8.7 years |
| 20 kW | $2.42 | $33,894 | $65,930 | 8.5 years |
How to Save on Solar Panels
The solar panel company you opt for will influence 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 consider, such as:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Contract: It's important to read through your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: Different companies carry various brands and kinds of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
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 Hills, TX Solar Cost FAQs
How much does it cost to install solar panels in Terrell Hills?
This is a tough question to answer exactly, because the cost depends on many 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. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Terrell Hills?
Leasing solar panels can be an option if you can't 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 property 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.
Does Terrell Hills have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
How long do solar panels last in Terrell Hills?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.