Solar Panel Cost Guide in Wake Village, TX (2024 Update)
- Wake Village Solar Installation Cost: $18,443
- 25-Year Savings: $22,290
- Payback Period: 12.4 Years
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Average Cost of Solar Panels in Wake Village
Find out what the average cost of solar panels are in Wake Village.
While the national average of solar panels is $2.66 per watt, solar panels in Wake Village generally cost around 3.Using this figure, a typical 7.9-kW system would cost about $18,443 before the 0 federal solar tax credit is applied.
These figures are only averages, and your own solar costs will differ based on the amount of energy your home requires and what company you choose to go with.Many homeowners find going solar is a fruitful investment. The average homeowner in Wake Village can save around $18,000 on their energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Wake Village for a quote for your home.
Solar savings over time in Wake Village
| Year | Return on Investment |
|---|---|
| 1 years | $-17,092 |
| 3 years | $-14,389 |
| 5 years | $-11,687 |
| 7 years | $-8,985 |
| 9 years | $-6,283 |
| 11 years | $-3,580 |
| 13 years | $-878 |
| 15 years | $1,824 |
| 17 years | $4,526 |
| 19 years | $7,229 |
| 21 years | $9,931 |
| 23 years | $12,633 |
| 25 years | $15,335 |
Top Solar Installers in Wake Village
Although it's possible to install solar panels yourself, it takes extra energy and handiness. That's one of the reasons almost all homeowners choose a solar panel installer. Plus, if you’d like to maximize your investment in solar energy, going with a solar company can help with that too. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives and net metering programs.
If you’d like to switch to solar energy but still aren’t sure which solar company to go with, here are our suggestions for providers nearby:
Best National Provider
SunPower
- 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
- 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
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that determine your overall cost in Wake Village: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production use 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 $3,330.There are many different solar panel brands and the one you pick also changes the cost. In general, the brands that offer higher efficiency tend to also cost more. Additionally, 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
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are available from most installers in Wake Village, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible.Even though solar loans make switching to solar energy more accessible for Wake Village homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you choose to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Wake Village, and each can charge different amounts for labor and equipment.The company’s size sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of 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 promotion can bring their pricing down to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.46 | $14,545 | $13,656 | 12.9 years |
| 8 kW | $3.40 | $19,021 | $18,580 | 12.6 years |
| 10 kW | $3.33 | $23,310 | $23,692 | 12.4 years |
| 12 kW | $3.26 | $27,413 | $28,989 | 12.2 years |
| 14 kW | $3.20 | $31,329 | $34,474 | 11.9 years |
| 16 kW | $3.13 | $35,058 | $40,144 | 11.7 years |
| 18 kW | $3.06 | $38,601 | $46,002 | 11.4 years |
| 20 kW | $3.00 | $41,958 | $52,045 | 11.2 years |
How to Save on Solar Panels
There are a lot of companies available in Wake Village, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
Best National Provider
SunPower
- 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
- 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?
The average cost of solar panels in Wake Village is about $16,650 for a 5-kW system and $33,300 for a 10-kW system before the ITC, but the actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How will solar panels impact the value of my home?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t opt for 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."
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 larger 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.