Solar Panel Cost Guide in Waco, TX (Nov 2022)

  • Waco Solar Installation Cost: $14,292
  • 25-Year Savings: $17,079
  • Payback Period: 11.4 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Waco

Let's take a look at the average cost of solar panels in Waco.

The national average cost of solar panels is $2.66 per watt, but in Waco it's $3 per watt. To account for the typical energy needs of the average home in Waco, most homeowners require a 7.6-kilowatt system. Using the figure above, a solar installation costs about $14,292, or $10,576 after the federal solar tax credit of 30% is applied.

Remember 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 system you want to get, your solar contractor and more. Many homeowners find installing a solar system is a solid investment. The average homeowner in Waco can save around $16,000 on their electricity bills over 20 years.

To see your potential savings and connect with a local solar installer, click the button below.

Solar savings over time in Waco

Year Return on Investment
1 years $-13,037
3 years $-10,527
5 years $-8,018
7 years $-5,508
9 years $-2,998
11 years $-489
13 years $2,021
15 years $4,531
17 years $7,040
19 years $9,550
21 years $12,060
23 years $14,570
25 years $17,079

Top Solar Installers in Waco

When making the switch to solar, many homeowners opt to use a solar installer since putting up solar panels yourself can be a difficult project. Plus, if you're unsure what brand of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.

If you'd like to switch to solar energy but still aren't certain which solar installer to go with, here are our suggestions for providers in Waco:

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 Waco

Factors that Affect Solar Panel Costs in Waco

Although the average cost of solar panels in Waco is $14,292, your final cost may differ. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.

Solar Equipment

The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the key factors is the system size. 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. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Waco, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited 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

If paying for solar panels in cash is out of reach, solar loans are an affordable route because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. 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 getting a solar loan with a low APR could reduce your costs significantly.

Solar Panel Installation Company

The solar panel installation company you choose will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Companies that 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 $2.80 $11,750 $13,059 11.8 years
8 kW $2.74 $15,365 $17,713 11.6 years
10 kW $2.69 $18,830 $22,518 11.4 years
12 kW $2.64 $22,144 $27,473 11.2 years
14 kW $2.58 $25,308 $32,579 10.9 years
16 kW $2.53 $28,320 $37,836 10.7 years
18 kW $2.47 $31,182 $43,243 10.5 years
20 kW $2.42 $33,894 $48,801 10.2 years

How to Save on Solar Panels

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

  • Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
  • Contract: Look through the contract terms thoroughly to make sure you understand the overall cost, project completion timeline incentives and warranties.
  • Solar Panel Brands: Not all solar installers have 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.
  • Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely provide good-quality solar panel installation and expertise.

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 Waco, TX Solar Cost FAQs

What is the average cost of installing solar panels in Waco?

The average cost of solar panels in Waco is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.

Is cost the most important thing to think about when buying solar panels?

Cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.

Does Waco have a net metering program?

Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.

How many solar panels do I need to power my home?

The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.

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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