Solar Panel Cost Guide in University Park, TX (Sep 2022)

  • University Park Solar Installation Cost: $14,480
  • 25-Year Savings: $22,707
  • Payback Period: 9.7 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in University Park

Let's have a look at the average cost of solar in University Park.

The national average cost of solar panels is $2.66 per watt, but in University Park it's $3 per watt. The average solar panel system size in University Park is around 7.7 kilowatts, meaning a cost of about $14,480 for a solar installation, or $10,715 after the 30% federal solar tax credit is applied.

Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy consumption, the type of solar panels you choose, your solar contractor and more. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $19,000 over 20 years on electricity bills.

To receive a free quote from a pre-vetted solar installer in University Park, you can click the button below.

Solar savings over time in University Park

Year Return on Investment
1 years $-12,993
3 years $-10,018
5 years $-7,043
7 years $-4,068
9 years $-1,093
11 years $1,882
13 years $4,857
15 years $7,832
17 years $10,807
19 years $13,782
21 years $16,757
23 years $19,732
25 years $22,707

Top Solar Installers in University Park

When switching to solar energy, many homeowners prefer to use a solar installer since installing a solar system yourself can be a time-consuming project. Another great thing about going with a reputable solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.

Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • 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 University Park

Factors that Affect Solar Panel Costs in University Park

For many University Park homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in University Park, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you'll pay, which we'll go over below.

Solar Equipment Size

One of the most important 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 spend around $2,690 per kilowatt in University Park. There are several different solar panel brands and the one you pick also changes the cost. Typically, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you're looking to get can affect your total cost. If you only 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 solar panels out of pocket can be difficult. Solar loans are provided by most installers in University Park, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.

Solar Panel Installation Company

The solar company you hire to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies in University Park, and each can charge different amounts for labor and equipment. Additionally, some companies in University Park have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 $17,257 10.1 years
8 kW $2.74 $15,365 $23,311 9.9 years
10 kW $2.69 $18,830 $29,515 9.7 years
12 kW $2.64 $22,144 $35,870 9.5 years
14 kW $2.58 $25,308 $42,375 9.3 years
16 kW $2.53 $28,320 $49,031 9.2 years
18 kW $2.47 $31,182 $55,838 9.0 years
20 kW $2.42 $33,894 $62,796 8.8 years

Solar Incentives in University Park

Name Renewable Energy Systems Property Tax Exemption
Incentive Amount 100%
Website Visit here
More Info Click here

Name Texas Gas Service - Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Warranty: If you're concerned about the durability of your solar panel system, checking your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
  • Solar Panel Brands: The type of solar panel you'd like to install plays a role in which installer you should go with, since different companies have different panels.
  • Installation Process: Make sure you're on the same page with the installer in regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

EcoWatch's University Park, TX Solar Cost FAQs

How much does it cost to install solar panels in University Park?

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 other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Is cost the most important thing to keep in mind when buying solar panels?

Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Do solar panels increase how much your home is worth?

Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."

What solar power system size is right for my home?

To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.

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