Solar Panel Cost Guide in The Colony, TX (Mar 2023)
- The Colony Solar Installation Cost: $14,424
- 25-Year Savings: $21,422
- Payback Period: 10.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in The Colony
Find out what the average cost of a solar system is in The Colony.
Although the national average of solar panels is $2.66 per watt, solar panels in The Colony typically cost around 2.69. To cover 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 about $14,424, or $20,626 before the federal solar tax credit of 30% is applied.
The actual price you pay can go higher or lower than the average in The Colony based on a few factors, such as the kind of solar panels you choose and the solar contractor you hire. Despite the high upfront cost, the average The Colony homeowner can save around $18,000 on their electricity bills over 20 years, which is one of the positives of solar.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in The Colony
| Year | Return on Investment |
|---|---|
| 1 years | $-12,990 |
| 3 years | $-10,122 |
| 5 years | $-7,255 |
| 7 years | $-4,387 |
| 9 years | $-1,519 |
| 11 years | $1,349 |
| 13 years | $4,216 |
| 15 years | $7,084 |
| 17 years | $9,952 |
| 19 years | $12,819 |
| 21 years | $15,687 |
| 23 years | $18,555 |
| 25 years | $21,422 |
Top Solar Installers in The Colony
Many homeowners opt for a solar panel installer since trying to install solar panels yourself can be a labor-intensive endeavor. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over time.
Working with a licensed solar company 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 The Colony
Factors that Affect Solar Panel Costs in The Colony
Even though the average cost of a solar system in The Colony is $14,424, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,690 per kilowatt in The Colony. There are many different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you're looking to install 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
Most solar installers in The Colony have solar loans, which reduce your upfront costs of installing solar panels. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the massive popularity of renewable energy solutions in The Colony, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. The size of the company sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 (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 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.