Solar Panel Cost Guide in Vernon, TX (2023 Update)
- Vernon Solar Installation Cost: $13,921
- 25-Year Savings: $27,964
- Payback Period: 8.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Vernon
Find out what the average cost of solar panels are in Vernon.
In Vernon, solar panels cost about 2.69 per watt on average. Using this figure, a typical 7.4-kW system would cost about $13,915 before the 30% federal solar tax credit is applied.
These figures are just averages, and how much solar costs for you may look different based on your specific situation and what company you want to go with. For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $22,000 in savings on energy bills over 20 years.
To receive a free estimate from a vetted solar installation company in Vernon, you can click the button below.
Solar savings over time in Vernon
| Year | Return on Investment |
|---|---|
| 1 years | $-12,500 |
| 3 years | $-9,657 |
| 5 years | $-6,815 |
| 7 years | $-3,973 |
| 9 years | $-1,131 |
| 11 years | $1,711 |
| 13 years | $4,553 |
| 15 years | $7,396 |
| 17 years | $10,238 |
| 19 years | $13,080 |
| 21 years | $15,922 |
| 23 years | $18,764 |
| 25 years | $21,606 |
Top Solar Installers in Vernon
Many homeowners opt for a solar installation company since trying to install solar panels on your own can be hard. Also, if you'd like to maximize your investment in solar energy, using a solar company can help with that too. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.
If you're searching for a solar company in Vernon, we've put together a list of our top suggestions here:
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 Vernon
Factors that Affect Solar Panel Costs in Vernon
The cost of installing a solar system in Vernon can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,690. There are several different solar panel brands and the one you choose also changes the cost. Generally, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Vernon offer solar loans, which reduce the initial cost of installing solar panels. You'll have to consider the long-term cost of loans, including the total 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 principal 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 final major cost factor you should consider is the installer you choose. Given the massive popularity of sustainable energy solutions in Vernon, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. Some companies only sell high-quality, high-efficiency and high-price products — 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 find a company that has the products, warranties and services you're looking for and also fits 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 | $2.80 | $11,750 | $22,244 | 8.6 years |
| 8 kW | $2.74 | $15,365 | $29,960 | 8.5 years |
| 10 kW | $2.69 | $18,830 | $37,826 | 8.3 years |
| 12 kW | $2.64 | $22,144 | $45,843 | 8.1 years |
| 14 kW | $2.58 | $25,308 | $54,011 | 8.0 years |
| 16 kW | $2.53 | $28,320 | $62,329 | 7.8 years |
| 18 kW | $2.47 | $31,182 | $70,798 | 7.6 years |
| 20 kW | $2.42 | $33,894 | $79,418 | 7.5 years |
How to Save on Solar Panels
There are many companies to choose from in Vernon, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- 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 installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: Although reading through a contract can be tedious, it's important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
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 Vernon, TX Solar Cost FAQs
How much does it cost to install solar panels in Vernon?
The average cost of solar panels in Vernon 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Vernon?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The downside 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is making the switch to solar worth it?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.