Solar Panel Cost Guide in Texarkana, TX (Mar 2023)
- Texarkana Solar Installation Cost: $14,895
- 25-Year Savings: $22,293
- Payback Period: 10.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Texarkana
Let's have a look at the average cost of solar in Texarkana.
The national average cost of solar panels is $2.66 per watt, but in Texarkana it's 2.69 per watt. The average solar panel system size in Texarkana is around 7.9 kilowatts, meaning a cost of about $14,895 for a solar installation, or $21,300 before the 30% federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Texarkana depending on a few factors, such as the brand of solar panels you choose and the solar contractor you hire. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is usually fruitful, with a net average savings of about $18,000 over 20 years on utility bills.
Click the button below to get connected to a highly rated solar company in Texarkana for a personalized quote.
Solar savings over time in Texarkana
| Year | Return on Investment |
|---|---|
| 1 years | $-13,407 |
| 3 years | $-10,432 |
| 5 years | $-7,457 |
| 7 years | $-4,482 |
| 9 years | $-1,507 |
| 11 years | $1,468 |
| 13 years | $4,443 |
| 15 years | $7,418 |
| 17 years | $10,393 |
| 19 years | $13,368 |
| 21 years | $16,343 |
| 23 years | $19,318 |
| 25 years | $22,293 |
Top Solar Installers in Texarkana
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Hiring a solar panel installer can make your swap to solar power much easier. Another great thing about using a reputable solar installer is that it'll provide warranties and free repairs, which help protect your investment.
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 (coming 2022)
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 Texarkana
Factors that Affect Solar Panel Costs in Texarkana
For many Texarkana homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Texarkana, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar 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 around $2,690. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are provided by most installers in Texarkana, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. When estimating your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar panel companies in Texarkana, and each can charge varying amounts for labor and equipment. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $16,451 | 10.4 years |
| 8 kW | $2.74 | $15,365 | $22,236 | 10.2 years |
| 10 kW | $2.69 | $18,830 | $28,172 | 10.0 years |
| 12 kW | $2.64 | $22,144 | $34,258 | 9.8 years |
| 14 kW | $2.58 | $25,308 | $40,495 | 9.6 years |
| 16 kW | $2.53 | $28,320 | $46,882 | 9.4 years |
| 18 kW | $2.47 | $31,182 | $53,420 | 9.2 years |
| 20 kW | $2.42 | $33,894 | $60,109 | 9.0 years |
How to Save on Solar Panels
There are a lot of companies available in Texarkana, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Before you sign a contract with a solar installer, make sure you read it through completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality 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 (coming 2022)
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 Texarkana, TX Solar Cost FAQs
How much does it cost to install solar panels in Texarkana?
This is a tough question to answer precisely, 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Are solar panels free in Texarkana?
You can't get solar panels for free in Texarkana. 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 prefer to own your solar panels, you can finance them with a solar loan.
Do solar panels increase your home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Texarkana is currently $130,476, which means you can expect a value of about $5,350 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Texarkana is a worthwhile investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.