Solar Panel Cost Guide in The Colony, TX (2023 Update)
- The Colony Solar Installation Cost: $14,419
- 25-Year Savings: $21,427
- Payback Period: 10.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in The Colony
Here's how much it might cost to install solar panels in The Colony.
The national average cost of solar panels is $2.66 per watt, but in The Colony it's 2.69 per watt. To cover the typical energy needs of the average home in The Colony, most homeowners require a 7.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $14,424, or $20,626 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of The Colony homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. For most homeowners, the upfront cost of solar is worth paying. On average homeowners in The Colony see about $18,000 in savings on energy bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in The Colony
| Year | Return on Investment |
|---|---|
| 1 years | $-14,300 |
| 3 years | $-14,061 |
| 5 years | $-13,822 |
| 7 years | $-13,583 |
| 9 years | $-13,344 |
| 11 years | $-13,105 |
| 13 years | $-12,866 |
| 15 years | $-12,627 |
| 17 years | $-12,388 |
| 19 years | $-12,149 |
| 21 years | $-11,910 |
| 23 years | $-11,671 |
| 25 years | $-11,432 |
Top Solar Installers in The Colony
When going solar, many homeowners prefer to use a solar installation company since installing a solar system yourself can be a time-consuming project. Solar warranties and repairs are usually included in the cost of installation when you sign a contract with a solar contractor too, which can save you more money after your upfront investment.
If you'd like to start using solar energy but still aren't certain which solar installer to go with, here are our recommendations for providers near you:
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 The Colony
Factors that Affect Solar Panel Costs in The Colony
Though the average cost of a solar system in The Colony is $14,424, your final cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,690. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like The Colony, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of 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 companies in The Colony have solar loans, which reduce the initial cost of installing a solar system. Although solar loans make adopting solar energy more accessible for The Colony homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installer you choose will affect your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $16,336 | 10.5 years |
| 8 kW | $2.74 | $15,365 | $22,083 | 10.3 years |
| 10 kW | $2.69 | $18,830 | $27,980 | 10.1 years |
| 12 kW | $2.64 | $22,144 | $34,028 | 9.9 years |
| 14 kW | $2.58 | $25,308 | $40,227 | 9.7 years |
| 16 kW | $2.53 | $28,320 | $46,576 | 9.5 years |
| 18 kW | $2.47 | $31,182 | $53,076 | 9.3 years |
| 20 kW | $2.42 | $33,894 | $59,726 | 9.1 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely provide high-quality solar panel installation and expertise.
- Installation Process: Make sure you're aligned with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Solar Panel Brands: Different companies carry different brands and types of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Contract: Before you sign a contract with a solar installer, make sure you read it through carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
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 The Colony, TX Solar Cost FAQs
How much does it cost to install solar panels in The Colony?
The average cost of solar panels in The Colony is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in The Colony?
Leasing solar panels can be an appealing choice, as it usually 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 option if you want to maximize your savings.
Can solar panels completely eradicate my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout The Colony, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
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 the amount of energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use 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.