Solar Panel Cost Guide in The Colony, TX (2024 Update)
- The Colony Solar Installation Cost: $17,850
- 25-Year Savings: $21,427
- Payback Period: 12.4 Years
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Average Cost of Solar Panels in The Colony
We go over average solar pricing in The Colony.
The average cost of a solar system in The Colony is 3 per watt.To account for the typical energy usage of the average home in The Colony, most homeowners require a 7.7-kilowatt system. Using the figure above, a solar installation costs around $17,850, or $25,526 before the federal solar tax credit of 0 is applied.
These figures are only estimates, and the cost of going solar for you will vary based on your specific situation and what company you choose to go with.Many homeowners find going solar is a sound investment. The average homeowner in The Colony can save around $18,000 on their electricity bills over 20 years.
Click the button below to get connected to a top solar company in your area for a customized quote.
Solar savings over time in The Colony
| Year | Return on Investment |
|---|---|
| 1 years | $-16,564 |
| 3 years | $-13,991 |
| 5 years | $-11,418 |
| 7 years | $-8,845 |
| 9 years | $-6,272 |
| 11 years | $-3,698 |
| 13 years | $-1,125 |
| 15 years | $1,448 |
| 17 years | $4,021 |
| 19 years | $6,594 |
| 21 years | $9,167 |
| 23 years | $11,740 |
| 25 years | $14,313 |
Top Solar Installers in The Colony
When making the switch to solar, many homeowners opt to go with a solar installer since handling can be a time-consuming project. Local solar companies can also help you optimize your return on investment by assisting with any local incentives you can take advantage of and by offering warranties and repairs.
If you’d like to make the switch to solar but still aren’t certain which solar system company to go with, here are our suggestions for providers in The Colony:
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in The Colony
Factors that Affect Solar Panel Costs in The Colony
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that affect your total cost in The Colony: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
One of the most significant 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 energy your household consumes, the larger your system will likely need to be. You can expect to spend around $3,330 per kilowatt in The Colony.There are a lot of different solar panel brands and the one you pick also changes the cost. Typically, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you just 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 provided by most installers in The Colony, which can reduce, or in some cases completely eliminate, your upfront costs to make 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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the massive popularity of sustainable energy solutions in The Colony, you’ll have many options to choose from, but each comes at different price points for labor and equipment.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and decide on the company that has the products, warranties and services you want and also is within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.46 | $14,545 | $13,541 | 12.9 years |
| 8 kW | $3.40 | $19,021 | $18,427 | 12.7 years |
| 10 kW | $3.33 | $23,310 | $23,500 | 12.4 years |
| 12 kW | $3.26 | $27,413 | $28,760 | 12.2 years |
| 14 kW | $3.20 | $31,329 | $34,206 | 12.0 years |
| 16 kW | $3.13 | $35,058 | $39,838 | 11.7 years |
| 18 kW | $3.06 | $38,601 | $45,657 | 11.5 years |
| 20 kW | $3.00 | $41,958 | $51,662 | 11.2 years |
How to Save on Solar Panels
The solar panel company you opt for will be a major factor in determining 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 a few important things you should keep in mind, including:
- Warranty: If you’re worried about the longevity of your solar panels, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Before signing a contract with a solar company, make sure you read it through fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely offer high-quality solar panel installation and expertise.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's The Colony, TX Solar Cost FAQs
What is the average cost of installing solar panels in The Colony?
The average cost of solar panels in The Colony is about $16,650 for a 5-kW system and $33,300 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Can solar panels eliminate my electricity bills?
It is possible to erase 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 roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.