Solar Panel Cost Guide in Wake Village, TX (2023 Update)
- Wake Village Solar Installation Cost: $14,898
- 25-Year Savings: $22,290
- Payback Period: 10.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Wake Village
Find out how much it might cost to switch to solar power in Wake Village.
In Wake Village, solar panels cost about 2.69 per watt on average. The average solar panel system size in Wake Village is around 7.9 kilowatts, meaning a cost of about $14,895 for a solar installation, or $21,300 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of making the switch to solar can vary quite a bit depending on multiple factors, such as what size system you need, your energy usage and what solar installer you go with. With typical savings of about $18,000 on electricity bills over 20 years, many homeowners in Wake Village find installing solar panels has a decent ROI.
To get a free estimate from a top solar installation company in Wake Village, you can click the button below.
Solar savings over time in Wake Village
| Year | Return on Investment |
|---|---|
| 1 years | $-13,547 |
| 3 years | $-10,845 |
| 5 years | $-8,143 |
| 7 years | $-5,440 |
| 9 years | $-2,738 |
| 11 years | $-36 |
| 13 years | $2,666 |
| 15 years | $5,369 |
| 17 years | $8,071 |
| 19 years | $10,773 |
| 21 years | $13,475 |
| 23 years | $16,178 |
| 25 years | $18,880 |
Top Solar Installers in Wake Village
Trying to put up solar panels yourself can be a time-consuming undertaking, which is why using a solar installation company is a good option for many homeowners. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Wake Village
Factors that Affect Solar Panel Costs in Wake Village
The cost of installing a solar system in Wake Village can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. There are many different solar panel brands and the one you choose also changes the cost. Typically, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you want to install 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
If paying for solar panels out of pocket is out of reach, solar loans are an affordable option because they lower your upfront costs and allow you to pay for your system over five to seven years on average. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies in Wake Village, and each can charge different amounts for labor and equipment. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $16,451 | 10.4 years |
| 8 kW | $2.74 | $15,365 | $22,236 | 10.2 years |
| 10 kW | $2.69 | $18,830 | $28,172 | 10.0 years |
| 12 kW | $2.64 | $22,144 | $34,258 | 9.8 years |
| 14 kW | $2.58 | $25,308 | $40,495 | 9.6 years |
| 16 kW | $2.53 | $28,320 | $46,882 | 9.4 years |
| 18 kW | $2.47 | $31,182 | $53,420 | 9.2 years |
| 20 kW | $2.42 | $33,894 | $60,109 | 9.0 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and what the project timeline is.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
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 Wake Village, TX Solar Cost FAQs
How much does it cost to install solar panels in Wake Village?
This is a difficult question to answer precisely, because the cost depends on a few different 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Wake Village?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Is it worth going solar in Wake Village?
Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Wake Village?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.